The suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, was granted bail in the sum of N20 million with one surety in like sum by the Federal High Court in Lagos State on Tuesday.
The bail was granted after Emefiele pleaded not guilty to two counts of illegal possession of firearms and ammunition.
Facing charges preferred against him by the Federal Ministry of Justice, Emefiele appeared before the vacation judge, Justice Nicholas Oweibo.
The charges relate to the alleged illegal possession of a single-barrelled shotgun (JOJEFF MAGNUM 8371) without a valid license.
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Additionally, he is accused of possessing 23 rounds of live ammunition (cartridges) without the required license.
According to the case, the offences were committed on June 15, 2023, at No. 3b Iru Close, Ikoyi area of Lagos.
During the court proceedings, Emefiele asserted his innocence to the charges, leading to the court granting him bail upon satisfying certain conditions.
The bail was set at N20 million, and the suspended CBN governor must provide one surety who can meet the same bail amount.