Godwin Emefiele, former Governor of the Central Bank of Nigeria, has been freed from the Kuje Correctional Centre upon fulfilling the requirements for his bail.
According to information received, He regained his freedom on Friday, December 22, 2023.
Adamu Duza, the spokesperson for the Kuje Correctional Centre in the Federal Capital Territory (FCT), verified the development to Punch correspondent on Saturday.
“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),” he said
facing charges of alleged procurement fraud, was granted bail of N300 million by the Federal Capital Territory High Court in Abuja.
Justice Hamza Muazu, presiding over the case, stipulated that the bail required two sureties posting an equal sum.
The judge specified that the sureties must possess certificates of occupancy and titles to properties situated within the Maitama District of Abuja.
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He was instructed to surrender all his travel documents to the court registrar and was mandated to stay within the Abuja Municipal Area Council.
Despite the judge’s directive, He was to remain in Kuje Correctional Centre until he fulfilled the conditions for bail.
Justice Muazu dismissed the Economic and Financial Crimes Commission’s objection to Emefiele’s bail application, rejecting the notion that the former CBN governor posed a flight risk or could compromise the investigation’s integrity or national security if granted bail.
Following the approval of the bail application, Justice Muazu set the trial’s commencement for November 28. Emefiele faced charges related to procurement fraud amounting to N1.2bn.
After an extensive four-month investigation, Jim Obazee, the Special Investigator probing the CBN, revealed that Emefiele and others had embezzled billions of naira and committed various financial offenses.
Obazee’s report, submitted to Bola Tinubu on December 9, 2023, disclosed fraudulent cash withdrawals of $6.23 million by Emefiele, along with alleged misconduct in the redesign of the naira.
Moreover, it was claimed that Emefiele maintained 543.4 million pounds in the United Kingdom.