ABUJA: The Economic and Financial Crimes Commission (EFCC) has arraigned the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, before the High Court of the Federal Capital Territory (FCT), sitting in Maitama, Abuja.
Emefiele is facing an eight-count charge related to the ownership of 573 duplexes and apartments at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja, which authorities suspect were illegally acquired.
Emefiele was charged alongside Eric Ocheme, who is currently at large, under case number FCT/HC/CR/358/2025.
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According to the EFCC:
- Emefiele allegedly forged a document in January 2021 titled “Irrevocable Power of Attorney Between MG Properties Limited and H and Y Business Global Limited”.
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The document was purportedly used to falsely claim authority over real estate transactions.
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He is also accused of keeping billions of naira in proxy accounts at Zenith Bank.
These alleged offences contravene Sections 319, 362, and 364 of the Penal Code.
When the charges were read in court, Emefiele pleaded not guilty.
His counsel, Matthew Burkaa (SAN), moved a bail application, which was not opposed by EFCC prosecutor, Rotimi Oyedepo (SAN).
Justice Yusuf Halilu granted Emefiele ₦2 billion bail, with the following conditions:
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Two sureties, residents of Abuja.
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Sureties must own landed properties in Maitama, Asokoro, or Wuse 2.
The court warned that if Emefiele fails to meet the bail terms by Wednesday, he will be remanded in a correctional facility. The matter has been adjourned to July 11, 2025, for the commencement of trial, during which the EFCC is expected to present witnesses.
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