The suspended Central Bank of Nigeria Governor, Godwin Emefiele, was granted bail in the sum of N50 million by the Ikeja Special Offences Court on Friday.

He is facing charges of abuse of office and fraud totaling $4.5 billion and N2.8 billion.

Justice Rahman Oshodi ruled that Emefiele could be released on bail with two sureties who are gainfully employed and have three years of tax payment with the Lagos State Government.

The sureties must also provide proper identification and be registered in the Lagos State Bail Management System.

The judge also noted that he was satisfied with the N1 million bail conditions set for Emefiele’s co-defendant, Henry Isioma-Omoil, in a separate case before Justice Olufunke Sule-Hamzat at a Yaba High Court.

Oshodi specified that the bail documents must be transferred to the special offences court and registered in the Lagos State Bail Management System.

Recall that the Economic and Financial Crimes Commission, EFCC, had on April 8 arraigned Emefiele on a 23-count charge bordering on abuse of office, accepting gratifications, corrupt demand, receiving property fraudulently obtained, and conferring corrupt advantage, while his co-defendant was arraigned on a three-count charge bordering on acceptance of gift by agents.

The defendants, however, pleaded not guilty to the charge.