Godwin Emefiele, former Governor of the Central Bank of Nigeria, has been released from the Kuje Correctional Centre after fulfilling his bail conditions. Emefiele was reportedly released on Friday, December 22, 2023.
Adamu Duza, the spokesperson for the Kuje Correctional Centre, confirmed the development on Saturday, stating, “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).”
The Federal Capital Territory High Court Abuja had granted Emefiele a N300 million bail in connection with alleged procurement fraud. Justice Hamza Muazu, who presided over the case, granted the bail with two sureties in like sum. The sureties were required to have certificates of occupancy and titles of properties within the Maitama District of Abuja. Emefiele was also ordered to deposit all his travel documents with the court’s registrar and remain within the Abuja Municipal Area Council.
Despite the bail grant, Emefiele had been held in Kuje Correctional Centre until he met the specified bail conditions. The judge rejected the objections raised by the Economic and Financial Crimes Commission (EFCC) to Emefiele’s bail application, disagreeing with the agency’s claims that he posed a flight risk or could jeopardize the investigation or threaten national security if granted bail. The trial was adjourned until November 28.
Meanwhile, after more than four months of investigation, the Special Investigator probing the CBN, Jim Obazee, alleged that Emefiele and others embezzled billions of naira and committed other financial offenses. Obazee’s report, submitted to President Bola Tinubu on December 9, 2023, claimed that Emefiele engaged “in fraudulent cash withdrawal of $6.23 million” and committed fraud in the redesign of the naira while allegedly keeping 543.4 million pounds in the United Kingdom.