Breaking: Emefiele granted bail after meeting the bail conditions

Former Central Bank of Nigeria Governor, Godwin Emefiele, has been granted release from custody after meeting the bail conditions set by the Court.

His departure from the Lagos High Court, Ikeja, came following proceedings where Justice Rahman Oshodi ruled on his bail application, admitting him to bail in the sum of N50 million with two sureties in like sum.

The culmination of this legal process saw Emefiele leave for his residence, having been escorted to court by operatives of the Economic and Financial Crimes Commission (EFCC).

The trial commenced promptly after the bail was granted, with the EFCC presenting its first prosecution witness, Monday Osazuwa, a staff member of the Central Bank of Nigeria (CBN).

Osazuwa’s testimony shed light on various occasions when Emefiele allegedly directed him to collect significant sums of money totaling $3 million in cash, distributed over multiple transactions.

Led by the prosecution counsel, Senior Advocate of Nigeria, Rotimi Oyedepo, Osazuwa narrated his professional journey, from serving as a dispatch rider at Zenith Bank to his tenure at the CBN and the errands he undertook for Emefiele during this period.

Osazuwa’s account detailed how Emefiele instructed him to liaise with a businessman to collect $1 million initially, followed by subsequent transactions totaling $850,000, $750,000, and $400,000 in cash, all conducted in tranches.

He also revealed his involvement with Dumies Oil and Gas Limited, a company associated with Emefiele, where he regularly collected cheques on behalf of the company. Throughout his testimony, Osazuwa emphasized the trust and faithfulness he exhibited in executing Emefiele’s instructions, underscoring his loyalty to the former CBN governor.

Cross-examination by the defense counsel, Abdulakeem Labi-Lawal, provided further insights into Osazuwa’s relationship with Emefiele and his knowledge of the second defendant, Henry Isioma Omoile, who allegedly resided in Emefiele’s house.

Osazuwa confirmed his long-standing association with Emefiele, dating back to 2002, although he couldn’t specify the exact duration of his interaction with Omoile.

He reiterated his role in collecting cheques for Dumies Oil and Gas, tracing the origins of this responsibility to his tenure at Zenith Bank during Emefiele’s tenure as Managing Director.

Despite a request for adjournment by the defense counsel, Justice Oshodi ruled against it, deeming it unjustified and ensuring the trial’s continuation.

The court adjourned proceedings to April 29, earmarking the date for further trial proceedings and considering applications for closed sessions to accommodate certain prosecution witnesses.