Former governor of the central bank of Nigeria, Godwin Emefiele, has been granted a N2billion bail by a federal high court sitting in Abuja on Monday
Emefiele was charged with eight counts, including unlawfully obtaining a housing estate consisting of 753 units
and allegedly stealing and seizing billions of naira from proxy accounts.
Furthermore, the embattled former CBN Governor had been granted bail in three other criminal cases
that were still pending against him, according to Justice Halilu Yusuf’s ruling,
and there was no proof that he had jumped bail.
The judge then granted Emefiele bail, but only if he could provide two sureties
who were the owners of Asokoro, Maitama,
or Wuse 2 property falling under the court’s purview and valued at at least ₦2 billion.
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He also told Godwin Emefiele to turn in his travel documents to the court
and that he would be remanded in custody if he didn’t complete the bail by Wednesday.
Emefiele’s attorney, Matthew Burkaa, filed the bail application, which was granted.
Furthermore Prosecutor Rotimi Oyedepo did not raise any objections,
but he did ask the court to impose special requirements that were different from what the other courts had previously granted.
Lagos Court Overturns Seizure Of Properties Belonging To Godwin Emefiele
Meanwhile the final forfeiture order against the Federal Government for the assets of Godwin Emefiele, has been overturned by the Court of Appeal, Lagos Division.
The appellate court overturned the judgment and mandated a retrial of the case at the lower court
in a two-to-one split decision delivered on April 9, 2025,
and further described in a certified true copy obtained by Punch newspaper
Recall that on November 1, 2024, the Federal High Court in Lagos ruled in favor of the Economic and Financial Crimes Commission’s request for Emefiele’s assets to be finally forfeited.
The forfeited assets included two fully detached duplexes located at No. 17B, Hakeem Odumosu Street, Lekki Phase 1, Lagos;
an undeveloped land measuring 1,919.592 square metres with survey plan No. DS/LS.340 at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos;
Also a bungalow at No. 65A Oyinkan Abayomi Drive, Ikoyi, Lagos and a four-bedroom duplex at No. 12A, Probyn Road, Ikoyi, Lagos.
You can read more of the ruling HERE