Emefiele arraigned over 753 Abuja duplexes, granted N2bn bail

A High Court of the Federal Capital Territory (FCT) on Monday granted bail in the sum of ₦2 billion to Godwin Emefiele, a former Governor of the Central Bank of Nigeria (CBN),

Justice Halilu Yusuf, while delivering the ruling, granted the bail following Emefiele’s arraignment on an eight-count charge. He is accused of, among other offences, “unlawfully acquiring a housing estate comprising 753 units” and “stealing and taking control of billions of naira in proxy accounts.”

Justice Yusuf noted that “Emefiele had been granted bail in three other criminal cases pending against him” and that “there was no evidence that he had jumped bail.”

The judge then admitted the former CBN governor to bail, stipulating that he must produce two sureties who must “own property worth ₦2 billion in either Asokoro, Maitama, or Wuse 2 within the jurisdiction of the court.”

Justice Yusuf further ordered Emefiele to “submit his travel documents to the court” and directed that the bail “must be perfected by next Wednesday,” failing which “he would be remanded in custody.”

The ruling followed a bail application filed by Emefiele’s counsel, Matthew Burkaa (SAN).

The application was not opposed by the prosecuting counsel, Rotimi Oyedepo (SAN), who however urged the court to “impose additional conditions different from those earlier given by other courts.”

Details shortly…