A Federal Capital Territory High Court on Monday granted bail to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in the sum of ₦2 billion.
Justice Yusuf Halilu, who presided over the case, ruled in favour of the bail application filed by Emefiele’s legal team. The former CBN boss was recently arraigned on an eight-count charge bordering on criminal breach of trust, conspiracy, and corruption-related offences.
The court noted that Emefiele had previously been granted bail in three other ongoing cases and had not breached any bail terms. Justice Halilu highlighted this as a significant factor in his decision to approve bail in the current matter.
Under the new bail conditions, Emefiele is required to present two sureties, each of whom must own property valued at no less than ₦2 billion within the Abuja districts of Asokoro, Maitama, or Wuse 2. Additionally, the court ordered Emefiele to deposit his travel documents and meet all bail requirements by next Wednesday or face possible remand.
The former apex bank chief faces allegations including the illegal acquisition of a 753-unit housing estate, financial misconduct involving billions of naira, and operating proxy accounts for suspicious transactions.
While the prosecution, led by Senior Advocate of Nigeria Rotimi Oyedepo, did not oppose the bail request, it urged the court to consider imposing stricter conditions than those previously granted by other courts.
Emefiele’s counsel, Matthew Burkaa (SAN), welcomed the ruling, describing it as a reaffirmation of his client’s right to bail pending trial.
