Capital Mirror News – Abuja
A High Court in Abuja has granted ₦2 billion bail to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, following his arraignment on fresh charges of alleged property fraud.
Presiding over the case, Justice Yusuf Halilu approved the bail after Emefiele pleaded not guilty to an eight-count charge involving the illegal acquisition of 753 housing units located in the Lokogoma area of Abuja.
According to court filings, the Economic and Financial Crimes Commission (EFCC) accused Emefiele of unlawfully using his position to control large assets through proxies and of violating public trust.
As part of the bail conditions, the court ordered that Emefiele must present two sureties who each own property worth at least ₦2 billion within highbrow areas of Abuja such as Asokoro, Maitama, or Wuse II. He is also required to deposit his travel documents with the court within 72 hours.
Justice Halilu noted that Emefiele had consistently met bail terms in previous matters and emphasized that bail is a constitutional right, not a privilege.
The court has adjourned the matter to July 11 for further hearing.
The charges are part of a broader probe into Emefiele’s tenure as CBN Governor, which has come under scrutiny for alleged abuse of office and mismanagement of public resources.
