A High Court of the Federal Capital Territory (FCT), Abuja, on Monday granted bail in the sum of ₦2 billion to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, following his arraignment on fresh corruption charges.
Presiding judge, Justice Halilu Yusuf, ruled in favour of Emefiele’s bail application after he was docked on an eight-count charge bordering on conspiracy, criminal breach of trust, forgery, and procurement fraud.
The charges include allegations of unlawful acquisition of a 753-unit housing estate in Abuja and control of billions of naira through proxy accounts.
Justice Yusuf observed that Emefiele had previously been granted bail in three other ongoing criminal matters and had not violated the conditions of those bails. The judge therefore granted bail on the condition that the defendant must produce two sureties who each own property valued at ₦2 billion within the highbrow areas of Asokoro, Maitama, or Wuse 2 in Abuja.
The court also ordered Emefiele to surrender all his travel documents and directed that the bail conditions must be met by Wednesday, or he would be remanded in custody.
The bail application was moved by Emefiele’s lead counsel, Matthew Burkaa (SAN), and was not opposed by the prosecution, led by Rotimi Oyedepo (SAN), who however requested that stricter conditions be attached to the bail.
Emefiele’s legal troubles have continued to mount, with the Economic and Financial Crimes Commission (EFCC) recently filing new charges relating to the alleged unlawful acquisition of 753 housing units in Abuja.
More details to follow…
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