From Godwin Tsa, Abuja
A High Court of the Federal Capital Territory (FCT) has granted a ₦2 billion bail to a former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, who was docked on an eight-count charge bordering on alleged theft and unlawfully acquiring a housing estate comprising 753 units.
The said property, located at Plot 109, Cadastral Zone C09, Lokogoma District, Federal Capital Territory (FCT), Abuja, measures 150,462.86 sqm and comprises 753 housing units.
Already, a High Court of the FCT had last year ordered the forfeiture of the said property to the federal government over claims that the estate forms proceeds of crime.
However, Emefiele had approached the court to challenge the forfeiture order of the court.
While the matter is currently pending at the Court of Appeal, the anti-graft agency, on Thursday, May 30, filed a fresh charge against Emefiele and one Eric Ocheme, said to be at large.
The charge number CR/358/2025 borders on allegedly having control of property reasonably suspected to be unlawfully obtained. The offence is punishable under Section 319 of the Penal Code Law.
Besides the housing estate, the two defendants are also charged with unlawfully keeping in their possession billions of naira in proxy accounts in Zenith Bank.
In count one of the charge, Emefiele and Ocheme are accused of knowingly having within their control the housing estate suspected to be unlawfully obtained contrary to the law.
In count two, they were alleged to knowingly have in their possession the sum of N167 million domiciled in Kelvito Integrated Services’ account No: 1016232915, and in count three, they were alleged to have held the sum of N1.23 billion in the same account. According to the anti-graft agency, the said sums were reasonably suspected to have been unlawfully obtained.
In another count, they were also alleged to have in their control another sum of N2.9 billion domiciled in Kelvito Integrated Services’ account No: 1016232915 with Zenith Bank Plc.
Following his plea of not guilty to the charges, the prosecution counsel, Mr Rotimi Oyedepo, SAN, urged the court for an accelerated hearing of the matter in line with the EFCC’s Establishment Act to avoid unnecessary delays.
Oyedepo consequently requested to be given a date for commencement of trial while praying that Emefiele be remanded in custody of the correctional centre.
However, counsel to Emefiele, Mr Mathew Burkaa, SAN, informed the court of a pending bail application that was filed for the bail of the defendant on Thursday, June 13, which the prosecution did not file a counter affidavit.
Burkaa therefore urged the court to presume that the prosecution was not opposed to the grant of the bail application.
He drew the court’s attention to the fact that the defendant is already being tried by the prosecution in three other matters and this is the fourth, adding that Emefiele was granted bail in the three matters.
In his ruling, Justice Yusuf Halilu, who held that bail is constitutional and that a defendant is presumed innocent until proven otherwise, noted that Emefiele had been granted bail in three other criminal cases pending against him and that there was no evidence that he had jumped bail.
The judge, who observed that the highest offence in the land is treasonable felony, noted that the court had on several occasions admitted defendants to bail.
“I have seen the charge filed against the defendant. Although the defendant did not file a counter, he however raised some concerns in some parts of the affidavit in support of the application, and those issues are hereby struck out,” the judge held.
He then proceeded to admit the ex-CBN governor to bail on the condition that he must produce two sureties, who must own property worth N2 billion in either Asokoro, Maitama, or Wuse 2 within the jurisdiction of the court.
Justice Yusuf ordered Emefiele to submit his travel documents to the court and directed that he must perfect the bail by Wednesday, June 18, failing which he would be remanded in custody.
In admitting Emefiele to bail, the judge also recognised that Emefiele did not jump the bail granted by Justice Maryanne Anenih and Justice Hamza Muazu.
As part of conditions attached to the new bail, Justice Halilu ordered that the defendant’s travel documents, already before Justice Muazu, be attached, and provide two sureties who must own landed property within the jurisdiction of the court worth N2 billion.
The sureties, in addition, must sign an undertaking to always ensure Emefiele is in court during the trial and will be jailed if the defendant jumps bail or forfeit the property.
Responding, Burkaa prayed the court to release the defendant to the defence team for at least seven days to enable the defendant to perfect his bail.
Oyedepo, however, objected, stating that it would amount to variation of the bail. He claimed that the conditions of the bail are not something the defendant would find difficult to meet.
The judge, however, ordered that Emefiele has until Wednesday, June 18, to perfect the bail or be remanded in the Kuje Correctional Centre, Abuja.
Meanwhile, the court fixed Friday, July 11, for commencement of trial.