A Federal High Court in Abuja on Monday granted ₦2 billion bail to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in connection with a fresh eight-count charge.
Emefiele is facing allegations that include the theft and illegal seizure of billions of naira from proxy accounts, as well as the unlawful acquisition of a 753-unit housing estate.
Delivering the ruling, Justice Halilu Yusuf noted that the former CBN chief had previously been granted bail in three other pending criminal cases and had not violated any of the bail conditions.
“There was no evidence that he had jumped bail,” the judge stated.
On that basis, the court agreed to grant bail but imposed strict conditions.
Emefiele is required to produce two sureties who must each own property located in Asokoro, Maitama, or Wuse 2, all within the court’s jurisdiction, with a minimum value of ₦2 billion.
In addition, the court ordered Emefiele to surrender all his travel documents, warning that failure to meet the bail conditions by Wednesday would result in him being remanded in custody.
The bail application was filed by Emefiele’s legal counsel, Matthew Burkaa, and subsequently granted by the court.
Although prosecuting counsel, Rotimi Oyedepo, did not oppose the bail request, he urged the court to “impose special requirements that were different from what the other courts had previously granted.”
