Former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, was on Friday arraigned before a High Court of the Federal Capital Territory (FCT) over allegations linked to the acquisition of 753 duplexes in Abuja.
The arraignment, brought by the Economic and Financial Crimes Commission (EFCC), is part of ongoing investigations into suspected large-scale fraud and abuse of office during Emefiele’s tenure at the apex bank.
The EFCC accused Emefiele of using proxies and shell companies to unlawfully acquire the properties, allegedly diverting funds meant for public use. The properties, located in highbrow areas of the capital city, are estimated to be worth billions of naira.
Following his plea of not guilty, Justice Hamza Muazu granted Emefiele bail in the sum of N2 billion with two sureties in like sum. The court ordered that the sureties must own landed properties within the FCT and must present original title documents to the registrar of the court.
The judge also directed Emefiele to deposit his international passport with the court and must not travel outside the country without permission.
The matter has been adjourned to a later date for trial to commence, as public scrutiny continues to mount over high-profile corruption cases in the country.
