A Federal Capital Territory High Court in Abuja has granted ₦2 billion bail to the former Governor of the Central Bank of Nigeria, Godwin Emefiele, in connection with charges of unlawful property acquisition and financial misconduct.
Justice Halilu Yusuf issued the bail ruling on Monday after Emefiele was arraigned on an eight-count charge. Among the allegations are the unlawful acquisition of a 753-unit housing estate, and control of large sums of money in proxy accounts.
The court noted that Emefiele had already been granted bail in three separate criminal cases and that there was no record of him violating any of those bail conditions.
As part of the conditions, Emefiele is required to produce two sureties who each own property worth at least ₦2 billion in Asokoro, Maitama, or Wuse 2—all within the court’s jurisdiction. He must also submit his travel documents and perfect the bail terms by Wednesday, or he will be remanded in custody.
The bail application, filed by Emefiele’s lawyer, Matthew Burkaa, was not opposed by prosecution counsel Rotimi Oyedepo, who, however, requested the court to impose additional stringent conditions beyond those set in previous cases.
Emefiele is facing mounting legal challenges following his ouster from the CBN and has been the subject of multiple corruption-related investigations.
