Justice Halilu Yusuf of the Federal Capital Territory (FCT) High Court on Monday granted bail to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in the sum of ₦2 billion.
Emefiele, who was arraigned on an eight-count charge bordering on financial crimes and illegal property acquisition, is accused of unlawfully acquiring a 753-unit housing estate, as well as allegedly stealing and controlling billions of naira through proxy accounts during his tenure as CBN boss.
In his ruling, Justice Yusuf observed that Emefiele had been previously granted bail in three other ongoing criminal cases and noted there was no record of him violating any bail terms. Based on this, the judge admitted Emefiele to bail with strict conditions attached.
As part of the bail conditions, Emefiele is required to provide two sureties who each must own property valued at ₦2 billion within Asokoro, Maitama, or Wuse 2 — highbrow districts within the court’s jurisdiction in Abuja.
Additionally, the court ordered the former CBN governor to deposit his travel documents and perfect the bail conditions by Wednesday, June 18, 2025, or risk being remanded in custody.
The bail application was moved by Emefiele’s lead counsel, Matthew Burkaa (SAN), and notably faced no opposition from the prosecution, led by Rotimi Oyedepo (SAN), who however urged the court to impose stricter conditions than those previously granted by other courts.
Godwin Emefiele’s legal troubles have continued to mount since his removal from office in mid-2023, with multiple corruption and financial misconduct charges filed against him by the Federal Government.
