Court grants ₦2 Billion bail to Ex-CBN Gov Emefiele in fresh criminal case

A High Court of the Federal Capital Territory (FCT) on Monday granted bail to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, in the sum of ₦2 billion.

This followed his arraignment on an eight-count charge bordering on alleged unlawful acquisition of a housing estate with 753 units, alongside accusations of stealing and control of billions of naira through proxy accounts.

Presiding over the matter, Justice Halilu Yusuf ruled in favour of the bail application moved by Emefiele’s lawyer, Matthew Burkaa (SAN). The judge observed that the embattled former apex bank chief had been previously granted bail in three other criminal cases without any record of him jumping bail.

In granting the fresh bail, the court mandated Emefiele to produce two sureties who must each own property valued at ₦2 billion within Asokoro, Maitama, or Wuse 2 areas of Abuja. The judge also directed that the accused surrender all his travel documents to the court.

Justice Yusuf further instructed that the bail conditions must be perfected on or before next Wednesday, or Emefiele would be remanded in custody pending compliance.

Prosecution counsel, Rotimi Oyedepo (SAN), did not oppose the bail application but urged the court to attach additional restrictions different from those granted by other courts where the former CBN boss is facing related charges.