A Federal High Court in Abuja has granted bail to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele in the case of money laundering.

Justice Yusuf Halilu on Monday ordered Emefiele to produce two sureties with properties in Asokoro, Maitama and Wuse valued at at least N2 billion.

The judge further directed Emefiele to deposit his international passport to the court’s registrar.

The judge further ordered that Emefiele be remanded in custody if he failed to complete the bail conditions by Wednesday.

Ruling on the bail application by Emefiele’s counsel Matthew Burkaa (SAN), Justice Halilu stated that Emefiele had been granted bail in three other criminal cases that were still pending against him and that there was no evidence that he had jumped bail.

For his part, the prosecution counsel, Rotimi Oyedepo (SAN) did not raise any objections, but requested the court to impose special terms that are distinct from those from the other courts.

The eight-count charge against Emefiele included allegedly stealing and seizing billions of naira from proxy accounts, as well as illegally obtaining a housing estate with 753 units.