Justice Halilu Yusuf of the Federal Capital Territory High Court has granted bail of ₦2 billion to the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

The bail was issued following his arraignment on an eight-count charge, including allegations of unlawfully acquiring a 753-unit housing estate, stealing, and controlling billions of naira through proxy accounts.

The judge noted that Emefiele had previously received bail in three other pending criminal cases and that there was no indication he had violated those bail conditions.

To secure his release, Emefiele must present two sureties who own properties worth ₦2 billion in Asokoro, Maitama, or Wuse 2 within the court’s jurisdiction.

Additionally, Justice Yusuf ordered him to submit his travel documents to the court and stipulated that he must finalize the bail process by Wednesday; otherwise, he would remain in custody. The decision came after his lawyer, Matthew Burkaa, applied for bail—a request that was not opposed by prosecuting counsel Rotimi Oyedepo, who instead suggested additional conditions different from those set by the other courts.

This ruling is part of ongoing legal proceedings surrounding Emefiele, as authorities continue to investigate financial irregularities linked to his tenure. The case highlights judicial considerations in high-profile financial misconduct trials, including ensuring compliance with bail conditions while maintaining due legal process.

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