EFCC arraigns Emefiele for unlawful possession of 753 housing units

Nkereuwem Effiong

The Economic and Financial Crimes Commission, EFCC, arraigned a former Governor of Central Bank of Nigeria, CBN, Godwin Ifeanyi Emefiele. This occurred on Monday, June 16, 2025. He was brought before Justice Yusuf Halilu of the Federal Capital Territory, FCT, High Court, Maitama, Abuja. He faced eight counts involving a criminal breach of trust, conspiracy, and forgery. Additionally, there was unlawful possession of property suspected to be proceeds of crime. The amount involved was ₦7,831,002,396 (Seven Billion, Eight Hundred and Thirty-One Million, Two Thousand, Three Hundred and Ninety-Six Naira).

Emefiele is facing trial. He allegedly used his privileged position to unlawfully acquire properties. He also controlled large sums of money suspected to be proceeds of unlawful activity.

Count one reads: “That you, GODWIN IFEANYI EMEFIELE and ERIC OCHEME (at large), sometime in August 2021, in Abuja. This is within the jurisdiction of this Honourable Court. You knowingly had under your control a property located at Plot 109, Cadastral Zone C09, Lokogoma District, FCT, Abuja. It measures 150,462. It covers 86 square meters with appurtenances. The property is reasonably suspected to have been unlawfully obtained. You thereby committed an offence contrary to and punishable under Section 319 (A) of the Penal Code Law, Cap. 89 Laws of the Federation, 1990.”

Count four reads: “That you GODWIN IFEANYI EMEFIELE and ERIC OCHEME (at large) committed an offense. This occurred between January and December 2021 in Abuja. This period is within the jurisdiction of this Honourable Court. You knowingly controlled the total sum of ₦2,945,331,050. This is Two Billion, Nine Hundred and Forty-Five Million, Three Hundred and Thirty-One Thousand, Fifty Naira. This sum was domiciled in Kelvito Integrated Services’ account No: 1016232915 with Zenith Bank Plc. The sum is reasonably suspected to have been unlawfully obtained.”

A statement was made available to our correspondent on Monday. It was provided by Head, Media and Publicity, EFCC, Dele Oyewale. Emefiele pleaded not guilty to all the charges read to him.

Given his plea, Prosecution counsel, Rotimi Oyedepo, SAN, urged the court to proceed to trial. He cited Section 19 of the EFCC Act. He called for an accelerated hearing and asked the court to remand the defendant in a Correctional Centre pending trial.

“My Lord, the prosecution is urging this Honourable Court for an accelerated hearing. This request is due to the plea of the defendant. We are also asking that the defendant be remanded pending trial,” he submitted.

Meanwhile, Defence counsel, Mathew Burka, SAN, informed the court of a pending bail application filed on June 13, 2025. He argued that Emefiele had never defaulted on any previous bail terms granted by other courts. He added that Emefiele had consistently presented himself to authorities. Emefiele is not a flight risk.

Although Oyedepo acknowledged receipt of the bail application, he noted that it was served on him only that morning.

Justice Halilu, in his ruling, granted bail to the defendant.  He stated that bail is a constitutional right. The court found no evidence that the defendant had ever jumped bail.

The bail was, however, granted under specific conditions. Two sureties must have verifiable landed properties situated in Maitama, Asokoro, Wuse II, or Life Camp, Abuja. Each property should be valued at not less than ₦2 billion.

The sureties must submit undertakings to ensure the defendant’s attendance in court. If they fail, the properties will be forfeited to the Federal Government, and the sureties will be remanded. Emefiele must also deposit his travel documents with the court.

The ruling was short. The defence counsel’s plea for interim bail was declined. The bail was needed to enable the defendant to perfect his bail conditions. Justice Halilu, however, held that the defendant must meet the conditions by Wednesday, June 18, 2025. Otherwise, he will be remanded in a Correctional Centre.

“In this court, I do not do handovers. The defendant has from today to Wednesday to perfect his bail or be remanded in prison,” the judge said.

The matter was later adjourned to July 11, 2025, for commencement of trial.