A Federal High Court in Abuja presided over by Justice Yusuf Halilu, on Monday granted bail to the former Governor of the Central Bank of Nigeria, CBN, Godwin Ifeanyi Emefiele, who was arraigned before the court by the Economic and Financial Crimes Commission, EFCC.
According to a press statement issued by the EFCC’s spokesman, Dele Oyewale, Justice Halilu granted bail to the defendant, stating that bail is a constitutional right and that the court found no evidence that the defendant had ever jumped bail.
“The matter was subsequently adjourned to July 11, 2025, for commencement of trial”, the statement disclosed.
The Commission has raised an eight-count charge bordering on criminal breach of trust, conspiracy, forgery, and unlawful possession of property suspected to be proceeds of crime to the tune of ₦7,831,002,396 (Seven Billion, Eight Hundred and Thirty-One Million, Two Thousand, Three Hundred and Ninety-Six Naira) against the ex-CBN governor.
Emefiele is facing trial for allegedly using his privileged position to unlawfully acquire properties and control large sums of money suspected to be proceeds of unlawful activity.
Emefiele pleaded not guilty to all the charges when they were read to him.
Meanwhile, Defence counsel, Mathew Burka, SAN, informed the court of a pending bail application filed on June 13, 2025. He argued that Emefiele had never defaulted on any previous bail terms granted by other courts, adding that he had consistently presented himself to authorities and was not a flight risk.
The statement read in part: “The bail was however, granted in the following conditions:
“Two sureties with verifiable landed properties situated in Maitama, Asokoro, Wuse II, or Life Camp, Abuja, each valued at not less than ₦2 billion.
“The sureties must submit undertakings to ensure the defendant’s attendance in court, failing which the properties will be forfeited to the Federal Government, and the sureties remanded. Emefiele must also deposit his travel documents with the court.
“After a short ruling, the defence counsel’s plea for interim bail to enable the defendant to perfect his bail conditions was declined. Justice Halilu however held that the defendant must meet the conditions by Wednesday, June 18, 2025, or be remanded in a Correctional Centre.
“In this court, I do not do handovers. The defendant has from today to Wednesday to perfect his bail or be remanded in prison, the judge said”.
