Emefiele Gets ₦2bn Bail Over Abuja Property Case

Godwin Emefiele received ₦2bn bail from the court over a case of illegal assets and forgery centered on a large Abuja estate.

Former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, was granted bail on Monday, June 16, 2025. The bail amount was set at ₦2 billion.

This came after he was brought before a court over a large housing estate in Abuja linked to him.

Emefiele appeared before Justice Yusuf Halilu at the High Court of the Federal Capital Territory in Maitama. He is facing eight charges related to owning and controlling property suspected to be from illegal activities.

The property in question is a large estate located at Plot 109, Cadastral Zone C09 in Lokogoma, Abuja. It contains 753 housing units, including duplexes and other types of apartments.

Another person, Eric Ocheme, was also named in the case, but he is currently not in custody.

According to the Economic and Financial Crimes Commission (EFCC), Emefiele controlled several bank accounts holding large amounts of money through proxies at Zenith Bank. The commission also accused him of forging a legal document in January 2021. The document, titled “Irrevocable Power of Attorney Between MG Properties Limited and H and Y Business Global Limited,” was allegedly made to appear as if it had been signed by H and Y Business Global Limited.

These alleged actions are said to violate Sections 319, 362, and 364 of the Penal Code.

When the charges were read in court, Emefiele pleaded not guilty.

The EFCC prosecutor asked the court to set a date for the trial. Meanwhile, Emefiele’s lawyer, Matthew Burkaa (SAN), filed for bail. The prosecution did not object to the bail request.

Justice Halilu approved bail with strict conditions. Emefiele must provide two sureties who live in Abuja and own landed properties in high-profile areas such as Maitama, Asokoro, or Wuse 2. The judge added that the bail terms must be met between Monday and Wednesday. If not, Emefiele would be sent to a correctional facility.

The trial is set to begin on July 11, 2025.

The estate tied to the charges is considered one of the biggest single real estate recoveries by the EFCC. The entire property measures around 150,500 square metres. It was officially taken over by the government after a court ruling on December 2, 2024, by Justice Jude Onwuegbuzie.

On May 20, 2025, the EFCC handed over the estate to the Minister of Housing and Urban Development, Ahmed Dangiwa. The handover took place as part of ongoing efforts to recover public assets linked to alleged misconduct during Emefiele’s time as CBN governor.

The EFCC described the handover as “a significant step in returning stolen assets for public benefit.”
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