A High Court of the Federal Capital Territory (FCT) on Monday granted ₦2 billion bail to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, following his arraignment on an eight-count charge bordering on corruption, including alleged theft and acquisition of 753 housing units through proxies.
Justice Yusuf Halilu ruled that Emefiele must present two sureties who own properties worth at least ₦2 billion in Asokoro, Maitama, or Wuse II, all within Abuja’s jurisdiction. The judge also ordered Emefiele to submit his travel documents and perfect the bail by Wednesday, or risk being remanded in custody.
The judge noted that Emefiele had previously been granted bail in three other criminal matters and had not violated any bail terms, making him eligible for this latest bail.
Emefiele’s legal team, led by Matthew Burkaa (SAN), filed the application, which was not opposed by prosecuting counsel Rotimi Oyedepo (SAN). However, Oyedepo urged the court to include stricter bail conditions than those previously set.
The charges against Emefiele include corruption, abuse of office, and financial misconduct, with investigators alleging the illegal transfer and control of billions of naira via proxy accounts.
