Former Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, was on Monday arraigned before an Abuja High Court sitting in Maitama over an eight-count charge of alleged corruption involving over N7.8 billion.
The Economic and Financial Crimes Commission (EFCC) accused the embattled former apex bank chief of criminal breach of trust, conspiracy, forgery, and unlawful possession of assets suspected to be proceeds of crime — including 753 housing units.
Emefiele was said to have abused his position as CBN governor to unlawfully acquire multiple properties and exert control over large sums suspected to be from illicit transactions.
He pleaded not guilty to all charges during his appearance before Justice Yusuf Halilu.
Following his plea, prosecuting counsel, Rotimi Oyedepo (SAN), urged the court to commence trial immediately, citing Section 19 of the EFCC Act.
However, defence counsel, Mathew Burka (SAN), drew the court’s attention to a bail application filed on June 13, stressing that his client had consistently complied with all bail conditions granted by other courts in previous matters.
In his ruling, Justice Halilu admitted the defendant to bail with two sureties who must file undertakings to ensure Emefiele’s attendance in court. The judge warned that failure to comply would lead to forfeiture of the sureties’ properties to the Federal Government and their immediate remand.
The court also directed Emefiele to surrender his travel documents, and gave him until Wednesday, June 18, to perfect his bail conditions or be remanded in a correctional facility.
The matter was adjourned to July 11 for commencement of trial.
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