Emefiele Remanded in EFCC Custody over Alleged $4.5bn, N2.8bn Fraud

By Iyojo Ameh

Justice Rahman Oshodi of the Lagos State Special Offences Court in Ikeja has remanded the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in the custody of the Economic and Financial Crimes Commission (EFCC).

Emefiele faces a fresh 26-count charge, including allegations of abuse of office, to which he pleaded not guilty.

During the court proceedings, Emefiele’s co-defendant, Herry Omoile, also pleaded not guilty to the same charges.

However, Omoile was remanded in the custody of the Nigerian Correctional Services.

Emefiele’s defense lawyer, Abdulakeem Ladi-Lawal, requested bail for his client on self-recognition or under liberal terms, suggesting that the same bail conditions granted by Justice Hamzat Muazu of the Federal Capital Territory (FCT) High Court in Abuja should be applied.

He further proposed that Emefiele be released to his lawyers until bail conditions are finalized.

In response, the EFCC’s counsel, Rotimi Oyedepo (SAN), did not oppose the bail application but urged the judge to set conditions that would ensure the defendants’ presence for trial.

Emefiele’s fate remains uncertain as the court adjourns the hearing until Thursday, pending a decision on his bail application.