A Federal High Court sitting in Abuja has granted former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, bail in the sum of ₦2 billion in the ongoing case of money laundering leveled against him.
Delivering the ruling on Monday, Justice Yusuf Halilu ordered Emefiele to produce two sureties who must own properties located in Asokoro, Maitama or Wuse, with each property valued at not less than ₦2 billion. Additionally, the judge directed that the former CBN chief must deposit his international passport with the court registrar.
The judge noted that Emefiele had previously been granted bail in three other pending criminal matters and had not breached any of those bail terms. He warned, however, that the defendant would be remanded in custody if he failed to meet the new bail conditions by Wednesday.
Emefiele's legal counsel, Matthew Burkaa (SAN), had filed the bail application, which was not opposed by the prosecution counsel, Rotimi Oyedepo (SAN). However, Oyedepo requested that the bail come with special conditions, separate from those in Emefiele’s other cases.
The embattled former CBN Governor is facing an eight-count charge, including allegations of embezzlement, misappropriation of public funds, and the illegal acquisition of a housing estate comprising 753 units through proxy accounts.
The development marks another chapter in the high-profile legal saga surrounding one of Nigeria’s most controversial financial figures.
