• Home
  • News
    • Education
    • Foreign News
    • Health
    • Technology
  • Top Stories
  • Politics
  • Business
  • Entertainment
    • Cartoon
    • Celebrity Gist
    • Sports
  • Interview
  • Opinion
  • Videos
  • Blog
Saturday, August 2, 2025
  • Login
  • Home
  • News
    • Education
    • Foreign News
    • Health
    • Technology
  • Top Stories
  • Politics
  • Business
  • Entertainment
    • Cartoon
    • Celebrity Gist
    • Sports
  • Interview
  • Opinion
  • Videos
  • Blog
No Result
View All Result
  • Home
  • News
    • Education
    • Foreign News
    • Health
    • Technology
  • Top Stories
  • Politics
  • Business
  • Entertainment
    • Cartoon
    • Celebrity Gist
    • Sports
  • Interview
  • Opinion
  • Videos
  • Blog
No Result
View All Result
No Result
View All Result

Court Grants Emefiele N2 Billion Bail in Housing Estate Fraud Case

ONUAH YVONNE by ONUAH YVONNE
June 16, 2025
in Top Stories
0
Federal Govt Reduces Charges Against Former CBN Governor Emefiele to Six Counts

A Federal Capital Territory High Court on Monday granted former Central Bank of Nigeria (CBN) Governor Godwin Emefiele bail in the sum of N2 billion over charges of illegally acquiring a 753-unit housing estate in Abuja.

Justice Yusuf Halilu, who presided over the arraignment, set the massive bail amount with equally stringent conditions that highlight the severity of the allegations against the former apex bank chief.

The court ordered that Emefiele must produce two sureties who will each stand surety for the full N2 billion amount, effectively requiring a total surety commitment of N4 billion.

“The sureties are required to own property valued at N2 billion in either Aso Drive, Maitama, or Wuse 2, within the jurisdiction of the court,” Justice Halilu specified during the bail ruling.

The bail conditions reflect the court’s assessment of both the gravity of the charges and the potential flight risk posed by the defendant, given his previous high-profile status and alleged access to substantial resources.

Beyond the financial requirements, Justice Halilu imposed additional restrictions on Emefiele’s movement and activities while on bail.

“Emefiele was also ordered to surrender his travel documents and meet the bail conditions by Wednesday next week, or face remand,” the judge declared, giving the former CBN governor a tight deadline to secure his freedom.

The N2 billion bail amount represents one of the highest ever set for a former government official in Nigeria’s anti-corruption prosecutions, underscoring the magnitude of the alleged offense.

The Economic and Financial Crimes Commission (EFCC) had arraigned Emefiele on eight counts related to the alleged conspiracy to acquire the massive property located at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja, through fraudulent means.

The property in question spans 150,462.86 square metres and was allegedly acquired through proxy accounts in violation of public trust, according to the charge sheet marked CR/350/25.

The prosecution, led by seasoned EFCC counsel Rotimi Oyedepo, had detailed how Emefiele allegedly conspired with one Eric Ocheme, currently at large, to acquire the prime real estate through questionable transactions.

The court heard that the estate had a complex ownership history, having been previously recovered from another unnamed senior government official through a forfeiture order.

“The estate had previously been recovered from an unnamed former senior government official, with a forfeiture order obtained from the FCT High Court in Apo,” the EFCC revealed in court documents.

The prosecution further disclosed that Emefiele had unsuccessfully attempted to challenge the forfeiture process before his current arraignment.

“Emefiele had challenged the forfeiture through a motion but the court dismissed his application,” the anti-graft agency stated.

Despite pleading not guilty to all eight charges, Emefiele now faces the daunting task of meeting the court’s bail conditions within the stipulated timeframe.

The requirement for sureties to own N2 billion worth of property in Abuja’s most exclusive neighborhoods—Aso Drive, Maitama, and Wuse 2—significantly narrows the pool of potential guarantors.

Legal experts note that properties in these prime locations command premium prices, making the bail conditions particularly challenging to fulfill even for wealthy individuals.

The Wednesday deadline adds pressure on Emefiele’s legal team, led by Matthew Burkaa, to quickly identify and verify suitable sureties who meet the court’s stringent requirements.

Should Emefiele fail to meet the bail conditions by the specified date, he will be remanded in custody pending the continuation of his trial.

This case adds to the former CBN governor’s mounting legal challenges, as he is already facing three separate criminal charges in different courts across the country.

The N2 billion bail amount sends a strong signal about the judiciary’s approach to high-profile corruption cases and reflects the court’s determination to ensure that defendants with significant resources cannot easily evade trial.

The case has been adjourned pending Emefiele’s compliance with the bail conditions, with the court expecting confirmation of his ability to meet the requirements by Wednesday next week.

Legal observers are closely watching whether Emefiele can secure the massive bail amount, as it will determine whether he remains free during what is expected to be a lengthy legal battle over the alleged fraudulent acquisition of one of Abuja’s largest residential developments.

Tags: courtEFCCgodwin emefiele
ONUAH YVONNE

ONUAH YVONNE

Next Post
DAVOS 2025 And Nigeria’s Audacious Push For Growth

APC Vice Chairman Dismisses Claims of Rift Between Tinubu and Shettima

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Niger Governor Orders Shutdown of Badeggi FM Over Alleged Incitement Against Government
Top Stories

Amnesty International Condemns Gov Bago’s Radio Station Shutdown as “Open Attack on Media Freedom”

by ONUAH YVONNE
August 2, 2025

Amnesty International has strongly condemned Niger State Governor Mohammed Umaru Bago's decision to shut down Badeggi 90.1 FM Radio in...

Read more
FG Resolves Passport Production Crisis in U.S. Missions

NIS Warns Nigerians: Comply with US Visa Terms to Avoid Travel Restrictions

August 2, 2025
SERAP Set To Sue INEC Over Failure To Allow Nigerians Complete Voter Registration

Nigerian Governors Lack Accountability, Waste Resources – SERAP

August 2, 2025
BREAKING: NBC Revokes Silverbird, AIT, Raypower, Rhythm FM, Others’ Licences

Information Minister: Only NBC Can Suspend Radio Station Licenses

August 2, 2025
Niger Governor Orders Shutdown of Badeggi FM Over Alleged Incitement Against Government

Niger Governor Orders Shutdown of Badeggi FM Over Alleged Incitement Against Government

August 2, 2025
FG Files 24 Fresh Charges Against Kyari, Uncovers Mega Assets

IHRC Calls on Tinubu to Grant Presidential Pardon to Suspended DCP Abba Kyari

August 2, 2025
I Will Hand Over Federal Universities To State Govts – Atiku

Atiku Praises ADC Youth Appointments

August 1, 2025
Nurses Union Contradicts Health Minister, Insists Strike Continues Nationwide

Nurses Union Contradicts Health Minister, Insists Strike Continues Nationwide

August 1, 2025
NSP Reveals 2,000 Physiotherapists Have Fled Nigeria for Opportunities Abroad

Health Minister Announces End to Nurses’ Strike

August 1, 2025
VP Shettima @ 58: A Boss, Mentor And Quintessential Leader

North-East APC Youth Warn Against VP Shettima’s Replacement, Cite Risk to Party Unity

August 1, 2025
Update: Atiku Storms Out Of PDP Presidential Primary Venue

Atiku’s Aide Debunks 2027 Presidential Bid Reports as “Mischievous” Use of Old Video

August 1, 2025
Army Chief Appeals for Special Funding to Address Housing Crisis for 13,000 New Recruits

Army Chief Appeals for Special Funding to Address Housing Crisis for 13,000 New Recruits

August 1, 2025
ADC Crisis Escalates as Former Deputy Chairman Declares Self National Leader

ADC Crisis Escalates as Former Deputy Chairman Declares Self National Leader

July 31, 2025
Akpabio, Yahaya Bello Named as Witnesses Against Suspended Senator in Defamation Case

Senate President’s Aide Says Apology Could End Akpoti-Uduaghan’s Suspension

July 31, 2025
Opposition party leaders, Peter obi and Atiku Abubakar

Opposition Coalition Spokesman Refutes Claims of Peter Obi’s Exit

July 31, 2025

Categories

  • Blog
  • Business
  • Cartoon
  • Celebrity Gist
  • Education
  • Entertainment
  • Foreign News
  • Health
  • Interview
  • Opinion
  • Politics
  • Special Features
  • Sports
  • Technology
  • Top Stories
  • Videos

Tags

#EndBadGovernance protest 2023 election 2027 general elections Abuja apc atiku abubakar buhari cbn court EDO STATE EFCC election fct federal government FRAUD Governor Siminalayi Fubara inec INSECURITY KANO STATE kidnapping kogi state labour party lagos lagos state modern national assembly news nigeria nlc NNAMDI KANU NYESOME WIKE nyesom wike ONDO STATE PDP PETER OBI politics PRESIDENT BOLA AHMED TINUBU president bola tinubu PRESIDENT TINUBU PROTEST QUICKTELL NEWS rivers state soledad supreme court tinubu
  • Home
  • Privacy Policy
  • About us
  • Contact us

© 2024 QuickTell News

No Result
View All Result
  • Home
  • News
    • Education
    • Foreign News
    • Health
    • Technology
  • Top Stories
  • Politics
  • Business
  • Entertainment
    • Cartoon
    • Celebrity Gist
    • Sports
  • Interview
  • Opinion
  • Videos
  • Blog

© 2024 QuickTell News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In