Former Central Bank of Nigeria (CBN) governor Emefiele has been freed from Kuje prison after meeting the requirements for bail

The ex-Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has been discharged from the Kuje Custodial Centre in Abuja. His release occurred on Friday afternoon after his legal representatives successfully fulfilled the bail requirements. Adamu Duza, the spokesperson for the Kuje Correctional Centre, confirmed the news, stating that Emefiele met his bail conditions and was released after 2 pm on Friday.

Mr. Emefiele was granted bail of N300 million by the Federal Capital Territory High Court in Abuja for alleged procurement fraud. Justice Hamza Muazu, who presided over the case, specified two sureties of equal value and mandated them to possess property certificates within the Maitama District of Abuja.

Furthermore, Emefiele was instructed to surrender all his travel documents to the court registrar and remain within the Abuja Municipal Area Council.

Although granted bail, Justice Muazu ordered Emefiele to stay in the Kuje Correctional Centre until he fulfilled all bail conditions, including securing the necessary sureties and providing required documents. The charges against him involve six counts of procurement fraud totaling N1.2 billion.

Despite objections from the Economic and Financial Crimes Commission (EFCC) regarding flight risk and potential interference with the investigation, the judge granted bail.

Emefiele’s release coincides with revelations of alleged abuse of office during his tenure. The report by Jim Obazee, a special investigator appointed by President Bola Ahmed Tinubu, highlights Emefiele’s purported use of proxies to acquire Union Bank and his alleged compromise of the process leading to the acquisition of Polaris and Keystone banks.





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