Former Central Bank of Nigeria Governor, Godwin Emefiele, has been released from the Kuje Correctional Centre after satisfying his bail conditions. Emefiele, facing prosecution for alleged procurement fraud, secured a N300 million bail from the Federal Capital Territory High Court Abuja. The release was confirmed by the spokesperson for the Kuje Correctional Centre, Adamu Duza, who stated that Emefiele met his bail conditions and left the facility on Friday.
The court granted bail with two sureties requiring certificates of occupancy and property titles within the Maitama District of Abuja. Emefiele was also instructed to deposit all travel documents with the court registrar and stay within the Abuja Municipal Area Council. Despite objections from the Economic and Financial Crimes Commission (EFCC), the judge rejected claims that Emefiele posed a flight risk, emphasizing the need for a fair trial.
Emefiele is facing trial on six counts related to procurement fraud amounting to N1.2 billion. A report by the Special Investigator, Jim Obazee, submitted to President Bola Tinubu, alleges Emefiele’s involvement in fraudulent cash withdrawals, financial irregularities in the naira redesign, and holding £543.4 million in the UK. The investigation spanned over four months and raised concerns about embezzlement and financial offenses during Emefiele’s tenure from June 2014 to June 2023.
