Former Nigerian central bank governor, Godwin Emefiele, has been granted bail in a procurement fraud case that has kept him in detention since June. This development comes after a prolonged period of trial stagnation.
Emefiele made his first court appearance since August when Judge Olukayode Adeniyi ordered his unconditional release or presentation in court. He is facing a serious 20-count fraud charge.
The judge emphasized the need to put an end to detention without trial, and as a result, Emefiele was granted bail with the condition of surrendering his passport to the court. His lawyers are responsible for ensuring his presence in court for another hearing scheduled for November 15, and notably, no monetary bail bond was required for his release.
Emefiele's trial had hit a roadblock in August when security agencies failed to bring him to court to enter a plea, causing significant delays. This case has garnered substantial attention due to his former role as central bank governor and the gravity of the allegations against him. The legal and financial communities in Nigeria are closely watching the developments in this high-profile case.
Furthermore, it's essential to note that Emefiele was suspended by President Bola Tinubu on June 9 and subsequently arrested the following day. He later resigned in August, clearing the path for the appointment of the new central bank governor, Olayemi Cardoso, in September.