A Federal High Court in Abuja has ordered the remand of Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), to Kuje Correctional facility pending ruling on his bail application.

The Economic and Financial Crimes Commission (EFCC) had arraigned the former bank chief on a six-count amended charge.

Emefiele was arraigned before Justice Hamza Muazu.

Mathew Burkaa, SAN, his counsel, had moved the application for his bail but Rotimi Oyedepo, the EFCC counsel, opposed on behalf of the Federal Government.

After listening arguments, Justice Muazu said he needed a little time to study the exhibits supplied by Emefiele to support his request for bail.

He thereafter adjourned the case till November 22, 2023.

Emefiele’s travail began after President Bola Tinubu suspended him on June 9, 2023, and ordered a probe of the apex bank under his watch.

Tinubu later appointed a Special Investigator to probe CBN.

Amid this probe, the apex bank released its audited financial statement, which showed that it was owing JP Morgan and Goldman Sachs a combined sum of $7.5 billion as of the financial year ended December 2022.

After months in custody of the secret police, he was transferred to the EFCC, which arraigned him in court and he was granted bail.