Court Grants Godwin Emefiele N300m Bail

Abuja, Nigeria– Justice Hamza Muazu of the Federal Capital Territory High Court has granted bail to the immediate past Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

During the bail hearing, Justice Muazu set the bail amount at N300 million (Three Hundred Million Naira) and required two sureties to stand as guarantors, each providing certificates of occupancy and titles of properties within the Maitama District.

The bail conditions also included surrendering his travel documents and a commitment not to interfere with the ongoing investigation.

Emefiele, who served as the Governor of the Central Bank from June 2014 to May 2023, was taken into prison last week in connection with allegations related to financial impropriety during his tenure. The charges against him include allegations of misappropriation of funds and abuse of office.

He is expected to remain in Kuje Correctional Centre pending when he meets the bail conditions.

However, Emefiele was absent in court during the hearing of his bail application. His lawyer, Mr Mathew Burkaa, however, said it was normal, as he is already at the Kuje Correctional Centre.