EFCC Arraigns Ex-CBN Governor Emefiele for Illegal Acquisition of 753 Housing Units
Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has been arraigned by the Economic and Financial Crimes Commission (EFCC) over the alleged illegal acquisition of a 753-unit housing estate in Abuja.
Emefiele was brought before Justice Yusuf Halilu of the Federal Capital Territory (FCT) High Court on Monday, facing an eight-count charge related to the property located at Plot 109, Cadastral Zone C09, Lokogoma District. He pleaded not guilty to all charges.
According to the charge sheet marked CR/350/25 and dated May 30, 2025, the estate in question spans 150,462.86 square metres. The EFCC alleged that Emefiele conspired with one Eric Ocheme, who is currently at large, to acquire the estate through proxy accounts, describing the act as being in “breach of public trust”.
The commission further revealed that it had previously recovered the estate from “an unnamed former senior government official” and secured a forfeiture order from the FCT High Court in Apo. Emefiele’s motion challenging the forfeiture was later dismissed by the court.
Justice Halilu granted Emefiele bail in the sum of N2 billion, with two sureties in like sum. The court specified that the sureties must own properties worth N2 billion within Aso Drive, Maitama, or Wuse 2 in Abuja.
The court also ordered Emefiele to submit his travel documents and meet the bail terms on or before Wednesday next week or risk being remanded in custody.
