Court Grants N2 Billion Bail to Godwin Emefiele Over Alleged Illegal Acquisition of 753 Duplexes

Justice Halilu Yusuf of the Federal Capital Territory High Court on Monday granted bail in the sum of N2 billion to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, in connection with fresh charges relating to the alleged illegal acquisition of a housing estate comprising 753 duplexes in Abuja.

Emefiele was arraigned on an eight-count charge bordering on corruption, criminal breach of trust, and abuse of office. The charges allege that he illicitly acquired the estate and managed billions of naira through proxy accounts during his tenure as CBN Governor.

In his ruling, Justice Yusuf observed that the defendant had previously been granted bail in three separate criminal matters and had not violated the terms of those bails. Citing this, the judge held that there was no justification for denying him bail in the present matter.

The court, however, imposed strict conditions for Emefiele’s release. He must provide two sureties, each of whom must own landed property valued at no less than ?2 billion, situated within Asokoro, Maitama, or Wuse 2 — all high-value districts within the FCT.

The case was adjourned for further proceedings.