Abuja
Court Grants Emefiele ₦2 Billion Bail in Alleged Multi-Billion Naira Fraud Case
ABUJA — A Federal High Court sitting in Abuja on Monday granted ₦2 billion bail to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in an ongoing criminal case involving alleged financial misconduct.
Justice Halilu Yusuf, in his ruling, said the bail was granted in consideration of Emefiele’s prior bail in three other ongoing cases and the absence of any record showing he had previously jumped bail. As part of the conditions, Emefiele must submit his travel documents to the court and meet the bail requirements by Wednesday or risk being remanded in custody.
Emefiele is facing an eight-count charge, which includes allegations of stealing billions of naira through proxy accounts and the unlawful acquisition of a 753-unit housing estate.
The bail application was filed by Emefiele’s lawyer, Matthew Burkaa, and was granted without objection from prosecuting counsel, Rotimi Oyedepo. However, Oyedepo requested that the court impose stricter bail conditions than those previously set by other courts.
In compliance, Justice Yusuf ordered that Emefiele produce two sureties, each of whom must own property located in Asokoro, Maitama, or Wuse 2—high-value districts within Abuja. The properties must fall under the court’s jurisdiction and have a combined value of no less than ₦2 billion.
The case continues as Emefiele seeks to fulfill the bail conditions ahead of the Wednesday deadline.
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