Justice Halilu Yusuf of the Federal Capital Territory High Court on Monday granted bail of ₦2 billion to Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN).
The bail was granted following Emefiele’s arraignment on an eight-count charge, including allegations of unlawfully acquiring a 753-unit housing estate and misappropriating billions of naira through proxy accounts.
In his ruling, Justice Yusuf noted that Emefiele had been granted bail in three other pending criminal cases, with no evidence suggesting he had violated bail conditions in those instances.
The court admitted Emefiele to bail on the condition that he provides two sureties, each owning property worth ₦2 billion within Asokoro, Maitama, or Wuse 2 in the court’s jurisdiction.
Additionally, Emefiele was ordered to submit his travel documents and perfect the bail terms by Wednesday, failing which he would be remanded in custody.
The ruling followed an application by Emefiele’s counsel, Matthew Burkaa, which the prosecuting lawyer, Rotimi Oyedepo, did not oppose but requested the court to impose supplementary conditions to those previously set by other courts.