Justice Halilu Yusuf of the Federal Capital Territory High Court on Monday granted bail at N2 billion to the embattled former Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele.
Justice Yusuf granted the bail after Mr Emefiele was arraigned on an eight-count charge in which he was accused of among others, unlawfully acquiring a housing estate comprising 753 units, allegedly stealing and taking control of billions of Naira in proxy accounts.
In the ruling, Justice Yusuf noted that Mr Emefiele had been granted bail in three other criminal cases pending against him and that there was no evidence that he had jumped bail.
He then proceeded to admit him to bail on the condition that he must produce two sureties, who must own property worth N2 billion in either Asokoro, Maitama or Wuse 2 within the jurisdiction of the court.
Justice Yusuf ordered Mr Emefiele to submit his travel documents to the court and directed that he must perfect the bail by Wednesday, failing which he would be remanded in custody.
The ruling was on the bail application moved by his lawyer, Mr Matthew Burkaa, which was not objected to by prosecuting lawyer, Mr Rotimi Oyedepo, who urged the court to impose additional conditions different from the ones earlier given by the other courts.
In May, the Ministry of Housing and Urban Development announced plans to sell the 753-unit housing estate confiscated from the embattled former CBN Governor.
The Ministry announced at that time that it will offer the units for sale both to the public and for special government needs.
“For the public sale component, we will adopt a transparent and competitive process. This will include nationwide advertisement and the use of the Renewed Hope Portal, where interested Nigerians can submit their Expressions of Interest,” the ministry’s spokesman, Salisu Haiba said quoting the Minister of Housing and Urban Development, Mr Ahmed Dangiwa.