On Monday, a High Court of the Federal Capital Territory (FCT) granted ex-Central Bank of Nigeria (CBN) Governor, Godwin Emefiele bail in the amount of N2 billion.
This decision followed Emefiele’s arraignment on an eight-count charge that outlines various serious allegations.
Justice Yusuf Halilu, who presided over the case, emphasized that Emefiele had previously been granted bail in three other ongoing criminal cases, noting the absence of any evidence indicating that he had violated the terms of those bail arrangements.
This historical context likely played a role in the court’s decision to grant bail once again.
Emefiele faces multiple charges, including the unlawful acquisition of a 753-unit housing estate, allegations of theft, and the illicit control of billions of naira through proxy accounts.
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The complexity of these charges underscores the gravity of the legal challenges he currently faces.
The conditions set by Justice Halilu for Emefiele’s bail, include for him to provide two sureties, each of whom must possess property valued at N2 billion located within the FCT, specifically in prestigious areas such as Asokoro, Maitama, or Wuse 2.
Furthermore, Emefiele is required to surrender his travel documents to the court to prevent any risk of flight while he awaits further proceedings.
To finalize the bail agreement, Emefiele must meet these conditions by next Wednesday, failure to do so will result in his remand in custody until the completion of the legal processes.
This ruling came as a result of a bail application submitted by Emefiele’s legal counsel, Matthew Burkaa (SAN).
Interestingly, the prosecuting attorney, Rotimi Oyedepo (SAN), did not oppose the bail request but urged the court to impose additional conditions that diverge from those already established by other courts in previous cases related to Emefiele.
