ALLEGED PROPERTY FRAUD: ABUJA COURT ADMITS EMEFIELE TO N2BN BAIL.

Justice Yusuf Halilu of an FCT High Court has granted former CBN Governor, Godwin Emefiele, bail in the sum of N2 billion, over an eight-count charge of property fraud linked to 753 housing units in Abuja, valued at billions of naira. 

The bail conditions require Emefiele, who pleaded not guilty to all charges, to provide two sureties who are residents of Abuja and owners of landed property valued at N2 billion in specific areas.

The court also ordered that the sureties must undertake to produce Emefiele in court throughout his trial, and they will face jail terms if he jumps bail. 

Emefiele has until June 18 to meet the bail conditions, while the hearing has been adjourned to July 11 for continuation of the case.

The Economic and Financial Crimes Commission (EFCC) had alleged that the former CBN governor and his co-defendant, Ocheme, unlawfully obtained the property and billions of naira in proxy accounts in Zenith Bank. 

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