A Federal High Court sitting in Abuja has approved bail in the sum of ₦2 billion for former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, who is facing an eight-count criminal charge related to financial misconduct and unlawful acquisition of property.
The charges, as filed by federal prosecutors, accuse Emefiele of orchestrating financial misappropriation through the diversion of public funds via proxy accounts and illicitly acquiring a luxury residential estate comprising 753 units.
Justice Halilu Yusuf, who presided over the proceedings, acknowledged that Emefiele had been granted bail in three prior criminal cases and noted the absence of any evidence that the former apex bank chief had violated prior bail terms. Consequently, the judge ruled in favour of granting bail, attaching stringent conditions.
According to the court order, Emefiele must provide two sureties who possess real estate valued at a minimum of ₦2 billion located within Abuja’s highbrow districts—specifically Asokoro, Maitama, or Wuse 2. These properties must also be under the jurisdiction of the court.
Justice Yusuf further directed Emefiele to surrender his international passport and all travel documents to the court. Failure to meet these bail conditions by Wednesday will result in his remand.
Emefiele’s counsel, Matthew Burkaa, filed the bail application, which was unopposed by prosecuting attorney Rotimi Oyedepo. However, Oyedepo requested that the bail terms differ from those previously issued by other courts.
 Governor,...){kind=link}