₦2bn Bail: Court Grants Emefiele Conditional Release Over 753 Abuja Duplexes

Justice Yusuf Halilu of the Federal Capital Territory High Court on Monday granted bail in the sum of ₦2 billion to the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, over fresh allegations bordering on corruption and illegal acquisition of property.

Emefiele was arraigned on an eight-count charge relating to the unlawful acquisition of a housing estate comprising 753 residential units in Abuja, and the alleged diversion and control of billions of naira through proxy accounts during his tenure as CBN Governor.

Delivering the ruling on the bail application filed by Emefiele’s lawyer, Matthew Burkaa (SAN), Justice Halilu acknowledged that the defendant had previously been granted bail in three separate criminal cases and had not breached the terms of any.

The judge therefore admitted him to bail on the following conditions: Emefiele must provide two sureties who each own property worth at least ₦2 billion within Asokoro, Maitama, or Wuse 2 — all upscale districts within the court’s jurisdiction. He must submit all travel documents to the court. The bail must be perfected by Wednesday, June 19, or he will be remanded in custody.

Prosecution counsel, Rotimi Oyedepo (SAN), did not oppose the bail application but urged the court to attach stricter conditions than those imposed in previous cases involving the defendant.

This latest case adds to a growing list of corruption-related charges facing Emefiele since his suspension and subsequent arrest in 2023. The Economic and Financial Crimes Commission (EFCC) has continued investigations into several transactions, procurement processes, and alleged abuse of office under his leadership at the apex bank.

The court adjourned the matter while awaiting the fulfillment of the bail conditions.