A Federal High Court in Abuja has granted former Central Bank Governor Godwin Emefiele bail set at ₦2 billion, with stringent surety conditions, in the ongoing prosecution over alleged financial crimes and illicit property acquisition.
Justice Halilu Yusuf, presiding over the eight‑count charge, noted that Mr. Emefiele “had previously been granted bail in three other criminal cases that remain pending” and that “there is no evidence before this court that the defendant has ever jumped bail.” He therefore ruled that Emefiele could be released if he produced two sureties each owning property in Asokoro, Maitama, or Wuse 2—areas within the court’s jurisdiction—with a combined minimum value of ₦2 billion.
The charges allege that Emefiele “stole and seized billions of naira from proxy accounts” and “illegally obtained a housing estate comprising 753 duplexes” in Abuja. As part of the bail terms, Justice Yusuf ordered that Emefiele surrender all travel documents and warned that failure to meet the conditions by Wednesday would result in his remand.
Mr. Emefiele’s counsel, Matthew Burkaa, filed the bail application on his client’s behalf, highlighting the governor’s long-standing public service record and lack of flight risk. The EFCC prosecutor, Rotimi Oyedepo, raised no formal objection to the bail but urged the court to impose “special requirements” beyond those granted in the other matters—without specifying the additional conditions.
The bail decision represents a key development in one of Nigeria’s highest‑profile anti‑graft cases, as the court prepares to hear substantive arguments on the alleged misappropriation of public funds and the disputed Abuja property in the weeks ahead.
The article was originally published on Politics Nigeria.
