Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN), has been granted bail of N2 billion after pleading not guilty to charges of illegally acquiring a 753-unit housing estate in Abuja. He appeared before Justice Yusuf Halilu of the Federal Capital Territory (FCT) High Court on Monday, June 16.
The Economic and Financial Crimes Commission (EFCC) alleges that Emefiele conspired with someone named Eric Ocheme (who is currently at large) to take over the massive property located in the Lokogoma District of Abuja. The EFCC claims the estate, which covers a huge area, was acquired using hidden accounts and went against public trust.
Interestingly, the EFCC revealed that this very estate had previously been seized from another former government official, and a court order was already in place to take it back. Emefiele had tried to fight this order in court, but his request was denied.
For his bail, Justice Halilu ordered Emefiele to provide two people as sureties, each promising N2 billion. These sureties must own properties also worth N2 billion in specific high-end areas of Abuja. Emefiele was also told to give up his travel documents. He has until next Wednesday to meet these bail conditions, or he will be sent to jail until his trial.
It's important to note that Emefiele is already facing three other separate criminal charges in different legal cases. He was represented by his lawyer, Matthew Burkaa, while the EFCC's lawyer was Rotimi Oyedepo.
