Ex-CBN Governor, Emefiele Regains Freedom

Godwin Emefiele, former governor of the Central Bank of Nigeria, has been released from the Kuje Correctional Center after fulfilling his bond requirements.

The development was confirmed the development on Saturday, December 23, by Adamu Duza, the spokesperson for the Kuje Correctional Centre, Federal Capital Territory.

He said: “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 2pm yesterday (Friday).”

Emefiele, who is being tried for alleged procurement fraud, was granted N300 million in bail by the Federal Capital Territory High Court in Abuja.

Justice Hamza Muazu granted the bail with two sureties in like sum.

According to the judge, the sureties had to possess titles and certificates of occupancy for homes located in Abuja’s Maitama District.

In addition, he mandated that Emefiele stay inside the Abuja Municipal Area Council and that he turn in all of his travel documents to the court registrar.

The judge, however, ordered that Emefiele should remain in Kuje Correctional Centre till he meets the bail conditions.

The Economic and Financial Crimes Commission objected to Emefiele’s bail application, but Justice Muazu rejected their argument that the ex-CBN governor was a flight risk who might breach bail, endanger the nation’s security, or jeopardize an investigation if released on bond.

After granting the bail application, Justice Muazu adjourned till November 28 for the commencement of  trial.

Emefiele stood trial on six counts bordering on procurement fraud to the tune of N1.2bn.