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Emefiele Meets Bail Condition, Regains Freedom

Embattled former Governor of the Central Bank of Nigeria, Godwin Emefiele, has regained his freedom after meeting his bail condition. Daily Trust gathered from sources…

Embattled former Governor of the Central Bank of Nigeria, Godwin Emefiele, has regained his freedom after meeting his bail condition.

Daily Trust gathered from sources privy to the development that Emefiele was released from the Kuje Correctional Centre on Friday afternoon after meeting the conditions set by the Federal Capital Territory High Court.

His release came amid revelations of his performance in office, in which case the report by Jim Obazee, the special investigator appointed on July 30 by President Bola Tinubu to probe the CBN under Emefiele, showed an alleged abuse of office.

Daily Trust Saturday reported that the former CBN governor allegedly used proxies to purchase Union Bank, while he was accused of compromising the process that led to the acquisition of Polaris and Keystone banks.

How Emefiele used proxies to ‘buy’ Union, Keystone, Polaris banks

CBN investigator uncovers 593 foreign accounts ‘opened’ by Emefiele

Meanwhile, prior to Obazee’s report, Emefiele was arraigned by the Federal Government before the FCT High Court, Abuja on a six-count charge, bordering on procurement fraud to the tune of N1.6bn. He had pleaded not guilty to the charges.

Justice Hamza Muazu had granted his bail request in the sum of N300m and two sureties in like sum, both of whom must have Certificates of Occupancy on properties in Maitama district of the FCT.

The former governor was also asked to submit his passport to the court and he must not leave the FCT.

One of the counts read, “That you, Godwin Ifeanyi Emefiele, male, adult, sometime in 2018 within the jurisdiction of this Honourable Court did use your position as Governor of the Central Bank of Nigeria to confer a corrupt advantage on Sa’adatu Ramallan Yaro, a staff of the Central Bank of Nigeria by awarding a contract for the supply of 37 Toyota Hilux Vehicles at the cost of N854,700,000 only to April1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro is a director and thereby committed an offence.”

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