Confirmed: Emefiele Regains Freedom After Meeting N300m Bail Condition

Emefiele leave prison After Meeting N300m Bail Condition
Godwin Emefiele
The former Governor of the Central Bank of Nigeria, Godwin Emefiele has been released from prison following satisfaction of his bail conditions.

Recall that a Federal court recently set free Godwin Emefiele with a condition of N300 million and sureties in the like sum.

The former CBN Governor has previously vowed to remain in prison rather than paying the N300 million bail terms but the abrupt change in his decision is still unknown.

Prof. Soludo who has been remanded in the Kuje correctional facility, was released yesterday, Friday, December 22, 2023.

Although Emefiele's bail application was strictly objected to by the counsel to the Economic and Financial Crimes Commission (EFCC) Justice Muazu, who presided over the case, disagreed that Emefiele posed a flight risk or could jeopardize the investigation, and he granted the bail.

Emefiele faced six counts related to procurement fraud amounting to N1.2bn. The Special Investigator, Jim Obazee, who probed the Central Bank, reported that Emefiele and others embezzled billions and committed financial offenses. The report, submitted to President Bola Tinubu on December 9, 2023, alleged fraudulent cash withdrawals of $6.23 million, fraud in the redesign of the naira, and the retention of 543.4 million pounds in the United Kingdom during Emefiele’s tenure from June 2014 to June 2023.

Even though the news of Emefiele's release was speculated through the night, the spokesperson for the Kuje Correctional Centre, FCT, Adamu Duza, confirmed the news on Saturday, stating that Emefiele had met his bail conditions and had no reason to stay in the facility.

Category: World-News
Tag: Emefiele leave prison After Meeting N300m Bail Condition
Written by Author (author)
Published 12/23/2023 1:10:02 PM

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