In a significant turn of events, the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been released from the Kuje Correctional Centre after successfully meeting the stringent conditions for his bail.
This development was confirmed on Friday, December 22, 2023, by the spokesperson for the Kuje Correctional Centre, Adamu Duza. Duza stated, “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).”
Emefiele’s release stems from a bail grant by the Federal Capital Territory High Court Abuja, where he faced charges of alleged procurement fraud amounting to N1.2 billion. Justice Hamza Muazu, presiding over the case, had set bail at N300 million, requiring two sureties in like sum.
The sureties were mandated to possess certificates of occupancy and titles of properties within the Maitama District of Abuja.
In addition to the financial commitment, Emefiele was directed to deposit all his travel documents with the court registrar and remain within the confines of the Abuja Municipal Area Council. However, despite the bail, Justice Muazu ordered Emefiele to remain in the Kuje Correctional Centre until he fulfilled all conditions, including securing the necessary sureties and submitting required documents.
The charges against Emefiele include six counts of procurement fraud, and the bail decision came after the court dismissed objections raised by the Economic and Financial Crimes Commission (EFCC).
The EFCC had expressed concerns about Emefiele being a potential flight risk or interfering with the ongoing investigation if released.
This development follows an extensive four-month investigation by the Special Investigator probing the CBN, Jim Obazee.
In a report submitted to President Bola Tinubu on December 9, 2023, Obazee revealed alleged financial infractions involving Emefiele. The report highlighted various irregularities, including fraudulent cash withdrawals, misconduct in the redesign of the naira, and the purported holding of 543.4 million pounds in the United Kingdom during Emefiele’s tenure from June 2014 to June 2023.
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