The suspended Governor of the Central Bank of Nigeria (CBN) Mr. Godwin Emefiele has been released on bail by a Federal High Court sitting in Lagos.
Emefiele had been in the custody of the Department of State Services for over a month since he was suspended by President Bola Ahmed Tinubu and arrested by the security agency.
The bail followed a two-count charge of illegal possession of firearm brought against him by the Department of State Services, DSS.
Emefiele was brought to court in a white Hillux pick-up van, with the number plates covered.
He pleaded not guilty to the two-count charge bordering on alleged illegal possession of firearms preferred against him.
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.
His lawyer, Mr. Joseph Daudu, SAN, had applied for his bail after his client pleaded not guilty to the two-count charge. He argued that the offence for which Emefiele was charged is bailable.
In his ruling, the presiding judge, Nicholas Oweibo said that the charges levelled against Emefiele are bailable.
Mr. Godwin Emefiele was then granted bail on the sum of N20 million and a surety in like sum.
