The embattled former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has been remanded in the custody of the Economic and Financial Crimes Commission (EFCC).
Mr Emefiele was arraigned at the Lagos State High Court, Ikeja, on Monday, before Justice Rahman Oshodi, for alleged abuse of office and irregular allocation of $4.5 billion and N2.8 billion respectively.
His co-defendant, Henry Omoile, was remanded in Ikoyi Correctional Centre.
They are both being held pending the determination of their bail application and commencement of trial on 11 April.
The ex-bank governor was arraigned alongside Mr Omoile. They both pleaded not guilty to the 26-count charge levelled against them.
Bail
During the proceedings, Mr Emefiele’s lawyer, A. Labi-Lawal, had in his two bail applications urged the court to grant his client bail on self-recognisance and liberal terms pending the determination of the case.
Mr Labi-Lawal, in his 31 affidavits, said that the first defendant (Emefiele) had complied with the bail application, which was granted to him by a court in Abuja in a separate but related trial.
He said the charges were bailable offences and not a capital offence.
“Though the first defendant was granted administrative bail by the prosecuting authority, he is seeking bail based on self-recognisance and he is ready to attend the court.
“The court should also take into consideration the status of the first defendant as he is a former CBN governor of the country,” he said.
Mr Labi-Lawal further said that his client had religiously presented himself before Justice Muazu in Abuja to answer the allegations before him.
According to him, the first defendant was not a flight risk.
The EFCC lawyer, Rotimi Oyedepo, did not oppose the bail application moved by the defendant’s lawyer.
Mr Oyedepo, however, urged the court to exercise its discretion judiciously in granting bail to the defendants.
The court adjourned the case till 11 April to rule on the bail application and the commencement of the trial.
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