BREAKING: Emefiele Meets N300M Bail Condition, Regains Freedom

A former Governor of the Central Bank of Nigeria, Godwin Emefiele has been released from the Kuje Correctional Centre after meeting up with his bail condition..

Emefiele was released on Friday, December 22 2023.

The spokesperson for the Kuje Correctional Centre, FCT, Adamu Duza, confirmed the development to our correspondent on Saturday.
“I can confirm to you that he (Emefiele) has met his bail conditions, hence he has no reason to remain in our facility.

“He met his bail condition and was released past 2pm yesterday (Friday),” he said.

The Federal Capital Territory High Court Abuja, had granted N300m bail to Emefiele, who is being prosecuted for alleged procurement fraud.

Justice Hamza Muazu granted the bail with two sureties in like sum.

The judge said the sureties must have certificates of occupancy and titles of properties within the Maitama District of Abuja.

He also ordered Emefiele to deposit all his travel documents with the registrar of the court, adding that he must remain within the Abuja Municipal Area Council.

The judge, however, ordered that Emefiele should remain in Kuje Correctional Centre till he meets the bail conditions.

While rejecting the objection by the Economic and Financial Crimes Commission to Emefiele’s bail application, Justice Muazu disagreed with the anti-graft agency that the ex-CBN governor was a flight risk and could jump bail, jeopardise investigation or threaten the security of the country if granted bail.

After granting the bail application, Justice Muazu adjourned till November 28 for the commencement of trial.

Emefiele stood trial on six counts bordering on procurement fraud to the tune of N1.2bn.

Meanwhile, after more than four months of investigation, the Special Investigator probing the CBN, Jim Obazee, said Emefiele and others embezzled billions of naira and committed other gross financial offences.

Obazee’s report which was submitted to President Bola Tinubu on December 9 2023, indicated that Emefiele who was in office from June 2014 to June 2023, engaged “in fraudulent cash withdrawal of $6.23 million”, and perpetrated fraud in the redesign of the naira, while he allegedly kept 543.4 million pounds in the United Kingdom.