Former Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, appeared before an Abuja High Court on Monday, where he pleaded not guilty to fresh charges involving fraud, forgery, and the alleged unlawful acquisition of property comprising 753 duplexes in the nation’s capital.
The Economic and Financial Crimes Commission (EFCC) filed an eight-count charge against the embattled former CBN chief. Following Emefiele’s not-guilty plea, lead prosecuting counsel, Rotimi Oyedepo (SAN), urged the court to proceed with an accelerated hearing and requested that the defendant be remanded in a correctional facility.
In response, defense counsel Mathew Burkaa (SAN) informed the court that a bail application had already been filed on June 13, adding that the absence of a counter-affidavit from the prosecution implied no opposition to bail.
Justice Yusuf Halilu, presiding over the case, ruled in favor of bail, emphasizing the constitutional principle that an accused is presumed innocent until proven guilty. He referenced previous instances where Emefiele had been granted bail in other ongoing legal matters and had not violated the terms.
Under the bail conditions, Emefiele is required to provide two sureties, each owning real estate valued at no less than ₦2 billion within the court’s jurisdiction. The court also ordered that his travel documents, already in custody from a related case before Justice Hamza Muazu, be attached. The sureties must sign a legal commitment to ensure the defendant’s presence throughout the trial and risk imprisonment or forfeiture of property if Emefiele absconds.
Justice Halilu granted the defense a deadline until Wednesday to meet the bail terms, after which the defendant would be remanded at Kuje Correctional Centre if the conditions remain unmet.
The court has scheduled July 11 for the commencement of trial proceedings.
It is noteworthy that the disputed property had previously been subjected to a forfeiture ruling by another FCT High Court, which held that the estate was acquired through proceeds of crime. Emefiele is currently challenging that forfeiture order.
