Godwin Emefiele, the suspended governor of the Central Bank of Nigeria (CBN), has been granted bail in the sum of N20million by a federal high court in Lagos.
Nicholas Oweibo, the presiding judge, in a ruling on Tuesday, said the charges against Emefiele are bailable.
The bail was granted with one surety in like sum.
Earlier, Emefiele pleaded not guilty to the two-count charge bordering on alleged illegal possession of firearms.
The federal government had accused Emefiele of having in his possession, 123 rounds of live ammunition (cartridges) without a licence.
After Emefiele took his plea, his counsels, led by Joseph Daodu, a senior advocate of Nigeria, informed the court of a bail application.
Daodu prayed that the court should grant bail to his client on self recognisance or on other liberal terms, pending the hearing and determination of the trial.
“There is no counter affidavit from the federal government, this is an unopposed application. He is a renowned banker and can only stay at his house. He can’t travel anywhere,” Daodu said.
But Nkiru Nebo-Jones, a deputy director of prosecution at the office of the attorney-general of the federation (AGF), opposed the bail application, saying she has not seen a copy of the document.
Daodu said the office of the AGF was served the document of the bail application, adding that the proof of service endorsed by the AGF’s office was in the court’s file.