Former governor of the Central Bank of Nigeria, Godwin Emefiele has been unable to meet the N300 million bail, and would therefore remain in prison.
Gatekeepers News reports that despite attempts by his legal team, the former CBN governor has not been released.
Emefiele was accused of using his position to confer a corrupt advantage on a staff member of the CBN, Sa’adatu Yaro by awarding a contract for the procurement of 43 vehicles worth N1.2 billion between 2018 and 2020.
His extraordinarily strict bail requirements has proven to be a significant barrier to his release.
Meanwhile, Emefiele’s supporters contend that the bail sum is excessive and could be an attempt to weaken his financial standing.
Nevertheless, others opposed to him contended that the charges are severe enough to warrant punitive legal measures.
The severity of the charges against the Emefiele is demonstrated by the court’s decision to uphold the high bond requirement.
Legal experts anticipate that his legal team will intensify their efforts to secure a more reasonable bail amount, citing the potential negative consequences of his prolonged incarceration on the nation’s economic well-being.
Meanwhile, Emefiele has yet to meet his bail conditions as he was brought to court and taken away by armed personnel of the Nigerian Correctional Service.
Federal Capital Territory High Court on Tuesday, adjourned the continuation of the trial till January 18, 2024.
