Emefiele fulfils bail conditions, freed from Kuje prison


Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), has been released from the Kuje Correctional Centre in Abuja after meeting his bail conditions.

Adamu Duza, spokesperson for the centre, confirmed the development on Saturday.

Duza said Emefiele was released on Friday, December 22.

The federal government has been prosecuting Emefiele for alleged procurement fraud.

In November, the federal government reduced the 20-count criminal charge preferred against Emefiele to one.

Emefiele was charged alongside Sa'adatu Yaro, a female employee of CBN, and her company, April 1616 Investment.

The former apex bank boss was accused of using his position to confer a corrupt advantage on Yaro by awarding a contract for the procurement of 43 vehicles worth N1.2 billion between 2018 and 2020.

They include 37 Toyota Hilux vehicles at the cost of N854.7 million, one Toyota Avalon at the cost of N99.9 million, one Toyota Landcruiser V8 at the cost of N73.8 million, two Toyota Hilux Shell Specification vehicles at the cost of N44,200,000.

He was also alleged to have awarded Yaro a contract for the procurement of two Toyota Landcruiser VXR V8 worth N138 million.

Emefiele pleaded "not guilty" to the amended charge.

He was thereafter remanded at the Kuje correctional facility pending ruling on his bail application.


On November 22, a federal capital territory high court granted Emefiele bail in the sum of N300 million.

The judge had also ruled that the former CBN governor must produce two sureties in like sum who would have certificates of occupancy and titles of properties within the Maitama district in Abuja.

Emefiele was first arrested by the Department of State Services (DSS) in June after being handed a suspension by President Bola Tinubu.

On July 25, he was arraigned on a two-count charge bordering on "illegal possession" of firearms at a federal high court in Ikoyi and was granted bail in the sum of N20 million.

This week, a probe panel set up by the federal government accused Emefiele of opening several foreign bank accounts and other financial infractions, during his spell as CBN governor.

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