Court grants Emefiele ₦2bn bail over fresh charges
Justice Halilu Yusuf of the Federal Capital Territory High Court has granted former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, bail in the sum of ₦2 billion.
The ruling came on Monday after Emefiele was arraigned on an eight-count charge bordering on alleged fraud, criminal breach of trust, and acquisition of a 753-unit housing estate through proxies, among other financial offences.
While delivering the ruling, Justice Yusuf acknowledged that Emefiele had previously been granted bail in three separate criminal cases and had not violated any of the bail conditions. He ruled that the prosecution failed to present any evidence suggesting that Emefiele posed a flight risk.
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The bail terms include the provision of two sureties who must each own property valued at ₦2 billion within Abuja’s highbrow areas of Asokoro, Maitama, or Wuse 2. In addition, Emefiele is required to surrender his travel documents and must meet the bail conditions on or before Wednesday. Failure to do so will result in his remand in custody.
The former apex bank chief has been facing a series of legal battles since his suspension in 2023, with allegations ranging from abuse of office to financial misconduct.
