The suspended Governor of the Central Bank of Nigeria, Godwin Emefiele, received bail in the sum of N20 million with one surety of the same amount from the Federal High Court in Lagos State on Tuesday.

He pleaded not guilty to two counts related to the alleged illegal possession of firearms and ammunition.

The charges were brought against him by the Federal Ministry of Justice before Justice Nicholas Oweibo, the vacation judge.

The allegations against Emefiele include possessing a single-barrelled shotgun (JOJEFF MAGNUM 8371) without a license and being in possession of 23 rounds of live ammunition (cartridges) without a license.

The incidents are said to have occurred on June 15, 2023, at No. 3b Iru Close, Ikoyi area of Lagos.