Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN), was released from the Kuje Correctional Center after meeting his bail conditions. Emefiele's release was verified on Friday, December 22, 2023, after his bail requirements were met.
Adamu Duza, the spokesperson for the Kuje Correctional Centre in the Federal Capital Territory, confirmed the development to our correspondent by saying, “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 2 pm yesterday (Friday).”
Emefiele was offered N300 million in bail by the Federal Capital Territory High Court in Abuja due to accusations of procurement fraud. The bail was granted by Justice Hamza Muazu, who also stipulated that two sureties in equal measure and that they hold titles and certificates of occupancy for properties located in the Maitama District of Abuja be held by the sureties.
Emefiele was also told to stay inside the Abuja Municipal Area Council and to deposit all of his travel documents with the court registrar.
Even though Emefiele was granted bail, Judge Muazu mandated that he remain in Kuje Correctional Center until he complied with the bail requirements, which included supplying the requisite paperwork and sureties.
Emefiele is accused with six charges of procurement fraud totaling N1.2 billion. However, bail was granted when the judge overruled the Economic and Financial Crimes Commission's (EFCC) concerns about Emefiele's probable flight risk or involvement with the inquiry if released.
Jim Obazee, the Special Investigator probing the CBN, revealed suspected financial irregularities involving Emefiele after four months of research. Obazee's report, which was delivered to President Bola Tinubu on December 9, 2023, detailed a number of financial anomalies, including illicit cash withdrawals, naira redesign fraud, and the alleged possession of 543.4 million pounds in the United Kingdom.
