JUST IN: Court Grants Emefiele ₦2 Billion Bail Over Alleged Acquisition of 753 Abuja Housing Units

A High Court of the Federal Capital Territory (FCT) on Monday granted bail in the sum of ₦2 billion to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. The decision was delivered by Justice Halilu Yusuf following Emefiele’s arraignment on an eight-count charge bordering on the alleged unlawful acquisition of a 753-unit housing estate, theft, and control of billions of naira through proxy accounts.

In his ruling, Justice Yusuf acknowledged that Emefiele had previously been granted bail in three separate criminal matters and noted that the prosecution had presented no evidence of bail violations. The court therefore granted bail on the condition that Emefiele must provide two sureties, each of whom must own property valued at ₦2 billion within Asokoro, Maitama, or Wuse 2—locations within the court’s jurisdiction.

Additionally, Emefiele was ordered to submit his travel documents to the court. He must also meet the bail requirements by next Wednesday or risk being remanded in custody.

The bail application was filed by Emefiele’s counsel, Matthew Burkaa (SAN), and was not opposed by the prosecution, led by Rotimi Oyedepo (SAN), who nonetheless requested that the court include conditions that differ from those in Emefiele’s other bail rulings.

Emefiele’s latest charges are tied to investigations by the Economic and Financial Crimes Commission (EFCC) regarding the alleged acquisition of the Abuja housing estate and related financial misconduct.

More to follow……