On Monday, Justice Halilu Yusuf of the Federal Capital Territory High Court granted bail in the sum 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, which includes allegations of unlawfully acquiring a housing estate consisting of 753 residential units, as well as claims of misappropriating and controlling substantial sums of money through proxy accounts.
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In delivering his decision, Justice Yusuf observed that Emefiele had previously been granted bail in three separate criminal cases and noted there was no indication that he had violated the terms of those bail conditions.
He subsequently approved bail under the condition that Emefiele must provide two sureties. Each surety is required to possess property valued at ₦2 billion located within Asokoro, Maitama, or Wuse 2, areas falling under the court’s jurisdiction.
Justice Yusuf further ordered Emefiele to hand over his travel documents to the court. He emphasized that the bail must be fully perfected by Wednesday, warning that failure to meet this deadline would result in Emefiele being taken into custody.
The judge’s decision followed a bail application submitted by Emefiele’s counsel, Matthew Burkaa. The application was not contested by prosecuting counsel, Rotimi Oyedepo, who instead asked the court to include additional bail conditions, distinct from those previously imposed by other courts.
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