Court grants bail to ex-Nigerian central bank chief facing fraud charges: Analysis

Former Nigerian central bank Governor Godwin Emefiele has been released on bail by a court. Emefiele, who was suspended from his position in June and subsequently arrested, is facing six charges of fraud and corruption. He pleaded not guilty to the charges. The court, presided over by Justice Hamza Muazu, granted Emefiele bail on the condition that he pay a 300 million naira bond and provide two sureties with properties in the Maitama district of Abuja, Nigeria’s capital. The judge also ordered Emefiele to surrender his travel documents and remain in Abuja during the ongoing trial. Emefiele, who formerly held a high level of power in Nigeria and even ran for president in the last election, oversaw a controversial system of multiple exchange rates aimed at artificially strengthening the country’s currency. However, his relationship with the government soured after the departure of President Muhammadu Buhari, leading to his resignation in August and the appointment of a new central bank governor, Olayemi Cardoso. Emefiele is now facing charges of “conferring corrupt advantage,” which were reduced from a previous indictment of 20 charges. He has not made any public statements regarding the case.
Source: https://www.aljazeera.com/news/2023/11/22/court-grants-bail-to-ex-nigerian-central-bank-chief-facing-fraud-charges