Justice Halilu Yusuf of the Federal Capital Territory High Court on Monday granted bail in the sum of ₦2 billion to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. The bail followed Emefiele’s arraignment on an eight-count charge bordering on corruption, including unlawful acquisition of a 753-unit housing estate and the alleged diversion of billions of naira through proxy accounts.
In his ruling, Justice Yusuf acknowledged that Emefiele had been previously granted bail in three separate criminal cases and noted that there was no record of him violating any of those bail conditions. Consequently, the court approved his release under strict terms.
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Emefiele was ordered to produce two sureties who each must own property valued at ₦2 billion within Asokoro, Maitama, or Wuse 2—areas within the court’s jurisdiction in Abuja. He is also required to submit his travel documents to the court.
The ruling followed a bail application by Emefiele’s lawyer, Matthew Burkaa, which was not opposed by prosecuting counsel Rotimi Oyedepo. However, the prosecution urged the court to impose additional safeguards beyond those already granted in previous cases. Justice Yusuf ruled that Emefiele must meet the conditions by Wednesday or risk being remanded in custody.
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