Former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been released from the Kuje Correctional Centre in Abuja after meeting his bail conditions.
The bail conditions which was set by the Federal Capital Territory High Court in Maitama amounted to N300 million and required two sureties with landed property in Maitama District, FCT.
The development was confirmed on Saturday by Adamu Duza, spokesperson for the correctional facility, stating that Emefiele was released on Friday, December 22.
Emefiele’s release warrant, signed by vacation judge Justice Othman Musa on December 22, confirmed that the former CBN governor had met the bail conditions.
Justice Mu’auz of the FCT high court decision, had initially ordered Emefiele to remain in Kuje Correctional Centre until meeting the bail conditions.
Emefiele, who served as CBN chief from 2014 to 2023, was arrested in June by the Department of State Services (DSS), the day after he was suspended as CBN governor by President Bola Tinubu.
The judge argued that Emefiele did not pose a flight risk or a threat to the investigation. The trial is scheduled for November 28, despite objections from the Economic and Financial Crimes Commission.
Emefiele faces six counts related to procurement fraud amounting to N1.2 billion. A report by Special Investigator Jim Obazee alleged embezzlement and financial offenses, including fraudulent cash withdrawals of $6.23 million, irregularities in the naira redesign, and the retention of 543.4 million pounds in the UK during Emefiele’s tenure from June 2014 to June 2023.
