The Lagos High Court in Ikeja has granted bail to former Central Bank governor, Godwin Emefiele. Justice Rahman Oshodi approved bail in the amount of N50 million, requiring two sureties to stand in equal sum. These sureties must be employed and have a record of three years' tax payments to the Lagos State Government. Additionally, they must provide proper identification and be registered in the Lagos State Bail Management System.

Justice Oshodi expressed satisfaction with the bail conditions previously set for Emefiele's co-defendant, Henry Isioma-Omoil, by Justice Olufunke Sule-Hamzat of the Lagos High Court in Yaba. Isioma-Omoil is facing separate charges. The court stipulated that the bail documents should be transferred to the special offences court and registered in the Lagos State Bail Management System.

Last week, the Economic & Financial Crimes Commission (EFCC) charged Emefiele with 26 counts related to alleged abuse of office and irregular allocations of $4.5 billion and N2.8 billion, respectively.