Former CBN Governor Godwin Emefiele Released From Kuje

Godwin Emefiele, the former Governor of the Central Bank of Nigeria, has regained his freedom from the Kuje Correctional Centre after fulfilling the stipulated requirements for his bail. The release occurred on Friday, December 22, 2023.

Adamu Duza, spokesperson for the Kuje Correctional Centre in the Federal Capital Territory (FCT), confirmed the news to a correspondent from Punch on Saturday. Duza stated, “I can confirm to you that he (Emefiele) has met his bail conditions, hence, he has no reason to remain in our facility. He met his bail condition and was released past 2 pm yesterday (Friday).”

Recall that Emefiele faced charges of alleged procurement fraud and was granted bail of N300 million by the Federal Capital Territory High Court in Abuja. The conditions set by Justice Hamza Muazu included two sureties posting an equal sum, possessing certificates of occupancy and titles to properties within the Maitama District of Abuja.

Despite being granted bail, Emefiele had been in Kuje Correctional Centre until meeting the specified conditions. Justice Muazu had dismissed objections from the Economic and Financial Crimes Commission (EFCC), asserting that Emefiele did not pose a flight risk and could not compromise the investigation’s integrity or national security.

In addition to surrendering all travel documents to the court registrar, Emefiele was required to stay within the Abuja Municipal Area Council. The trial’s commencement was set for November 28, and the charges against Emefiele were related to procurement fraud amounting to N1.2 billion.

The investigation, led by Special Investigator Jim Obazee, revealed alleged embezzlement of billions of naira and financial offenses. Obazee’s report, submitted on December 9, 2023, disclosed fraudulent cash withdrawals of $6.23 million by Emefiele and alleged misconduct in the redesign of the naira. It was also claimed that Emefiele maintained 543.4 million pounds in the United Kingdom.

The news of Emefiele release came as GWG.ng reported that in the midst of the renewed Naira scarcity, the spotlight was once again turned to the name of Godwin Emefiele, the former CBN Governor, after a prominent newspaper in its story described the new development as the return of the Emefiele era.

GWG.ng reports that the news headline was immediately attacked on twitter with netizens calling out The Punch for sidetracking the present managers of the CBN and linking the naira scarcity to Emefiele who was incarcerated in Kuje Prison.

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