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High Court Grants N300m Bail To Former CBN Governor Emefiele Amid Fresh Criminal Trial
High Court Grants N300m Bail To Former CBN Governor Emefiele Amid Fresh Criminal Trial
In a dramatic turn of events, the Federal Capital Territory (FCT) High Court in Maitama has granted former Central Bank of Nigeria (CBN) Governor Godwin Emefiele a bail of N300 million in connection with a fresh criminal trial. Emefiele stands accused of allegedly overseeing the printing of new Naira notes without adhering to due process.....KINDLY READ THE FULL STORY HERE▶
Emefiele, who previously pleaded not guilty to the four-count charge leveled against him by the Economic and Financial Crimes Commission (EFCC), secured bail with stringent conditions. Alongside the substantial financial bail, he is required to produce two sureties, each possessing titled property within the Maitama area of the FCT.
Further stipulations dictate that Emefiele must surrender his travel documents to the court and seek permission before leaving the country. These conditions mirror those set forth in a previous bail granted to him by Justice Hamza Muazu, another judge overseeing a separate criminal case against Emefiele.
Justice Anenih, presiding over the current trial, emphasized the importance of adhering to the conditions set by Justice Muazu, indicating that Emefiele’s compliance with the terms of his previous bail would suffice.
The trial is scheduled to commence on May 28, marking a critical juncture in the legal proceedings against the former CBN governor. As Emefiele navigates this latest legal battle, the outcome remains uncertain, with the eyes of the nation fixed on the unfolding saga.
During an interview on Channels Television’s ‘Politics Today’, former minister Rotimi Amaechi dismissed recent comments made by FCT Minister Nyesom Wike regarding his selection as a running mate, stating that he does not respond to subordinates and noting that Wike never employed him.....KINDLY READ THE FULL STORY HERE▶
Additional context regarding the political exchange includes:
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Wike’s Remarks: During a media briefing, Wike alleged that Amaechi’s selection was financially motivated rather than strategic, questioning his electoral viability and political influence post-2011.
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Amaechi’s Response: Maintaining that he is currently focused on mourning, Amaechi indicated that he intends to respond more forcefully once his campaign activities officially begin.
During an interview on TVC News, former Lagos State Peoples Democratic Party (PDP) chairman Deji Doherty disputed claims that Chief Olabode George is a founding father of the party, asserting instead that George was introduced into the party’s leadership by former President Olusegun Obasanjo around 1999.....KINDLY READ THE FULL STORY HERE▶
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Criticism of Leadership: Doherty argued that Obasanjo’s decision to entrust the management of the Lagos State PDP chapter to George was a mistake and that the affairs of the state branch were poorly handled.
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Internal Party Crises: Displaying reconciliation documents during the broadcast, he noted that past efforts by respected party elders to resolve internal party disputes have failed to secure long-term peace.
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Call for Youth Empowerment: Doherty emphasized that the ongoing leadership struggles should pave the way for a younger generation to take charge of the nation’s political future, regardless of party affiliation.
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Parallel (Black) Market Rates: According to Bureau De Change (BDC) sources in Lagos for Tuesday, August 4, 2026, the parallel market traded the US Dollar at a buying rate of ₦1,410 and a selling rate of ₦1,425.....KINDLY READ THE FULL STORY HERE▶
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Official CBN Rates: Central Bank of Nigeria figures recorded rates ranging from a low of ₦1,361 to a high of ₦1,364.
Key Advisory Notes
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Regulatory Stance: The CBN does not officially recognize the parallel market and advises individuals engaging in foreign exchange transactions to utilize authorized banking channels.
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Price Variance: Actual market transaction rates may differ across various dealers and locations due to continuous market fluctuations.
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