The Economic and Financial Crimes Commission on Monday, June 16, arraigned the former Governor of the Central Bank of Nigeria, Godwin Emefiele, before the High Court of the Federal Capital Territory sitting in Maitama, on an eight-count charge bordering on unlawful property acquisition and forgery.
According to Channels, Emefiele was accused of illegally taking control of 753 housing units—including duplexes and apartments—located at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja.
The EFCC also alleged that the former apex bank chief held billions of naira in proxy accounts domiciled in Zenith Bank.
He was arraigned alongside one Eric Ocheme, said to be currently at large, in a case marked FCT/HC/CR/358/2025.
According to the anti-graft agency, one of the charges involves the alleged forgery of a document titled “Irrevocable Power of Attorney Between MG Properties Limited and H and Y Business Global Limited”, which was purportedly created to mislead stakeholders into believing it was legally issued by H and Y Business Global Limited.
The charges, as stated by the EFCC, contravene Sections 319, 362, and 364 of the Penal Code.
Emefiele pleaded not guilty to all the charges when read to him in open court.
Following his plea, EFCC’s lead counsel, Rotimi Oyedepo (SAN), requested a trial date to allow the prosecution to present its evidence and witnesses.
Emefiele’s legal representative, Matthew Burkaa (SAN), moved a bail application on behalf of his client. Notably, the EFCC did not oppose the request.
Ruling on the bail application, Justice Yusuf Halilu granted Emefiele bail in the sum of ₦2 billion with two sureties. The sureties must reside in Abuja and possess landed property in either Maitama, Asokoro, or Wuse 2.
Justice Halilu warned, “The defendant must meet the bail conditions between now and Wednesday, failing which he will be remanded in a correctional facility.”
The matter has been adjourned until July 11, 2025, for the commencement of trial.
