Court grants Emefiele N2bn bail over alleged illegal acquisition of Abuja estate

Justice Halilu Yusuf of the Federal Capital Territory High Court in Abuja on Monday granted Godwin Emefiele, former Governor of the Central Bank of Nigeria, bail in the sum of N2 billion.

Justice Yusuf granted the bail after Emefiele was arraigned on an eight-count charge in which he is accused of among others, unlawfully acquiring a housing estate comprising 753 units, allegedly stealing and taking control of billions of naira in proxy accounts.

In the ruling, Justice Yusuf noted that Emefiele had been granted bail in three other criminal cases pending against him and that there was no evidence that he had jumped bail.

He then proceeded to admit him to bail on the condition that he must produce two sureties, who must own property worth N2 billion in either Asokoro, Maitama or Wuse 2 within the jurisdiction of the court.

He also said that Emefiele must submit his travel documents to the court, adding that he has until Wednesday, June 18, to meet the bail conditions or risk being remanded in custody.

Emefiele is accused of money laundering involving N7.7 billion and illegal possession of a property in Lokogoma, Abuja.

The court noted that Emefiele had been granted bail in three other pending cases and had not jumped bail.