Justice Halilu Yusuf of the Federal Capital Territory High Court on Monday granted bail in the sum of N2 billion to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele
The bail followed Emefiele’s arraignment on an eight-count charge, which includes allegations of unlawfully acquiring a 753-unit housing estate, stealing, and managing billions of naira through proxy accounts.
In his ruling, Justice Yusuf noted that Emefiele had previously been granted bail in three other ongoing criminal cases and had not violated any of those conditions. He therefore granted bail on the condition that Emefiele provides two sureties who must each own property worth ₦2 billion within Asokoro, Maitama, or Wuse 2 in Abuja.
The court also ordered Emefiele to deposit his travel documents and ruled that the bail must be perfected by Wednesday, or he would be remanded in custody.
The decision came after a bail application was filed by Emefiele’s counsel, Matthew Burkaa. The prosecution, led by Rotimi Oyedepo, did not oppose the application but requested that the court impose additional conditions beyond those in earlier bail rulings.
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