Justice Halilu Yusuf of the Federal Capital Territory High Court on Monday granted ₦2 billion bail to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, following his arraignment on an eight-count charge. The charges include unlawful acquisition of a 753-unit housing estate, alleged theft, and control of billions of naira through proxy accounts.
In his ruling, Justice Yusuf acknowledged that Emefiele had previously been granted bail in three other criminal cases and had not violated any of those terms. He therefore granted bail under the condition that Emefiele must produce two sureties who each own property valued at ₦2 billion in Asokoro, Maitama, or Wuse 2, within the court’s jurisdiction.
The court also ordered Emefiele to surrender his travel documents and directed that the bail conditions must be met by Wednesday or he would be remanded in custody.
The bail application was filed by Emefiele’s lawyer, Matthew Burkaa, and was not opposed by prosecution counsel Rotimi Oyedepo, who, however, requested the court to impose stricter bail terms than those set by previous courts.
