Emefiele was arraigned on Monday before Yusuf Halilu, judge of the federal capital territory (FCT) high court on an eight-count charge. He pleaded “not guilty” to all charges.

The EFCC accused Emefiele of conspiring with Eric Ocheme, who is currently at large, to acquire the property located at Plot 109, Cadastral zone C09, Lokogoma district, Abuja.

According to the charge sheet marked CR/350/25 and dated May 30, 2025, the estate covers a total area of 150,462.86 square metres.

The anti-graft agency alleged that the acquisition was carried out using proxy accounts and was in “breach of public trust”.

The EFCC said it had earlier recovered the estate from an unnamed former senior government official and secured a forfeiture order from the FCT high court in Apo.

Emefiele later filed a motion challenging the forfeiture, but the court dismissed his application.

Halilu granted Emefiele bail in the sum of N2 billion, with two sureties in like sum.

The sureties must own property worth N2 billion in either Aso Drive, Maitama, or Wuse 2 within the jurisdiction of the court.

The court directed that Emefiele must submit his travel documents and meet the bail conditions on or before Wednesday next week, or risk being remanded in custody.

Emefiele, who already faces three other criminal charges in separate cases, was represented by his lawyer, Matthew Burkaa. The EFCC was represented by Rotimi Oyedepo.