By our reporter 16-6-2025
Former Central Bank of Nigeria governor Godwin Emefiele has been granted a N2billion bail by a High Court sitting in Abuja where he is standing trial for illegal acquisition of 753 housing units in the Federal Capital Territory (FCT).
The embattled banking chief was arraigned on an eight-count charge of unlawfully acquiring a housing estate comprising 753 units, allegedly stealing and taking control of billions of naira in proxy accounts. The property is stated to be located at Plot 109, Cadastral Zone C09, Lokogoma District, FCT, Abuja.
The case was brought against him by the Economic and Financial Crimes Commission.
Presiding judge Justice Halilu Yusuf, noted that Emefiele was not a flight risk having been granted bail by two judges of the same High Court of the FCT in separate criminal cases and that there was no evidence that he jumped bail.
The judge said, “In the absence of any evidence of bad conduct as it relates to the bail earlier granted to the defendant, I am mindful to grant the bail sought.”
Justice Yusuf proceeded to grant bail to Emefiele on the condition that his travel document, earlier deposited in respect of charge FCT/CR/577/2023, is attached as part of the conditions for the bail.
The judge ordered him to produce two sureties, who must be residents of Abuja and own landed proper within the jurisdiction of the court, particularly in Asokoro, Maitama, Wuse 2 and Life Camp.
He said the property, cumulatively, must be of a value of billion. The judge ordered Emefiele to perfect the bail by Wednesday, failing which he would be remanded in prison.
The sureties, the judge said, shall also undertake to produce the defendant in court all through the duration of the trial.
Justice Yusuf added that in the event that the defendant jumps bail, the sureties shall be put in prison and the said property shall be forfeited to the Federal Government.
He adjourned till July 11 for the commencement of the trial.