Emefiele Regains Freedom After Meeting Bail Conditions

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

VOP News gathered that Emefiele was released on Friday, December 22, 2023.

The spokesperson for the Kuje Correctional Centre, FCT, Adamu Duza, confirmed the development to journalists today.

You will recall that the Federal Capital Territory High Court in Abuja granted N300 million in bail to Emefiele, who is being prosecuted for alleged procurement fraud.

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

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 Center until he meets the bail conditions.

While rejecting the objection by the Economic and Financial Crimes Commission (EFCC 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, jeopardize an investigation, or threaten the security of the country if granted bail.

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

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

This is coming just as the Special Investigator probing the CBN, Jim Obazee, said Emefiele and others embezzled billions of naira and committed other gross financial offenses.

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 withdrawals 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.