Emefiele granted bail for N20 million 

On Tuesday, 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.

He was granted bail after pleading not guilty to the two counts bordering on the alleged illegal possession of firearms and ammunition.

Emefiele is facing two counts of illegal possession of firearms and ammunition preferred against him by the Federal Ministry of Justice before the vacation judge, Justice Nicholas Oweibo.

The Ministry of Justice is prosecuting him on charges of possessing a single-barrelled shotgun (JOJEFF MAGNUM 8371) without a license.

He is also accused of illegally being in possession of 23 rounds of live ammunition (cartridges) without a license.

The defendant committed the offenses on June 15, 2023, at No. 3b Iru Close, Ikoyi area of Lagos.