An Abuja High Court has granted former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, bail set at ₦2 billion, following his arraignment by the Economic and Financial Crimes Commission (EFCC) on multiple corruption-related charges.
Justice Yusuf Halilu of the Federal Capital Territory High Court delivered the ruling on Monday, June 3, 2025, stipulating stringent bail conditions. Emefiele must provide two sureties, each owning property worth at least ₦2 billion located in Aso Drive, Maitama, or Wuse 2, Abuja. He is also required to submit all travel documents to the court.
The EFCC charged Emefiele in relation to the alleged illegal acquisition of a 753-unit housing estate in Abuja, accusing him of acting in breach of public trust. The commission further alleged he collaborated with a fugitive accomplice, Eric Ocheme, and unlawfully retained billions of naira in proxy accounts at Zenith Bank.
Emefiele pleaded not guilty to all eight-count charges, which include criminal conspiracy, abuse of office, and money laundering.
Justice Halilu, noting that Emefiele had previously complied with bail terms in three separate cases, granted the bail on similar grounds. However, should Emefiele fail to meet the court’s conditions, he will be remanded in a Nigerian correctional facility pending trial.
The court adjourned the matter to July 11, 2025, for the commencement of trial proceedings.
