Justice Halilu Yusuf of the Federal Capital Territory (FCT) High Court on Monday granted bail in the sum of ₦2 billion to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
Emefiele was arraigned on an eight-count charge bordering on alleged unlawful acquisition of a 753-unit housing estate, as well as the alleged theft and control of billions of naira through proxy accounts.
In his ruling, Justice Yusuf noted that Emefiele had previously been granted bail in three separate criminal cases and that there was no record of him violating any of those bail conditions.
The judge granted bail on the condition that Emefiele must produce two sureties who each own property worth at least ₦2 billion, located in Asokoro, Maitama, or Wuse II — all within the court’s jurisdiction.
Additionally, Emefiele was ordered to deposit his travel documents with the court. He must fulfill the bail conditions by Wednesday or risk being remanded in custody.
The bail application was moved by Emefiele’s counsel, Matthew Burkaa, and was not opposed by the prosecution. However, prosecuting counsel Rotimi Oyedepo urged the court to impose additional conditions beyond those previously granted by other courts.
