Court grants ₦2bn bail to Emefiele over alleged ₦753 Abuja duplex scam

A Federal Capital Territory High Court sitting in Abuja has granted bail to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, in the sum of ₦2 billion.

Justice Halilu Yusuf issued the ruling on Monday after Emefiele was arraigned on an eight-count charge involving the alleged illegal acquisition of a 753-unit housing estate and the unlawful control of billions of naira through proxy bank accounts.

While delivering his decision, Justice Yusuf highlighted that Emefiele had already been granted bail in three other ongoing criminal cases and had not violated any of the previous bail conditions. On this basis, the court agreed to release him under stringent terms.

As part of the bail requirements, Emefiele is to provide two sureties, each of whom must own property valued at ₦2 billion located in either Asokoro, Maitama, or Wuse 2 — all within Abuja’s jurisdiction.

The court also ordered him to surrender all travel documents and instructed that the bail conditions must be fully met by Wednesday. Failure to do so would result in Emefiele being remanded in custody.

The bail application, argued by Emefiele’s counsel, Matthew Burkaa (SAN), was not opposed by the prosecution led by Rotimi Oyedepo (SAN), although Oyedepo requested that the court add further bail conditions distinct from those imposed in the other cases.

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