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Nigeria's Ex-Central Bank Head Released After Five Months in Jail

A high court has granted bail to former central bank governor Godwin Emefiele, who had been in detention since June 2023 on procurement fraud charges. This decision came after he appeared in court for the first time since August, with the judge ordering his unconditional release or a court appearance.

Emefiele is facing a 20-count fraud charge.

The court granted him bail on the condition that he surrender his passport and appear in court on November 15, 2023 for another hearing. No bail was required.

Emefiele was suspended by President Bola Tinubu on June 9, 2023 and arrested a day later. He subsequently resigned in August, leading to Tinubu appointing new Central Bank governor Yemi Cardoso in September, 2023.

InFocus

Stephen Jaffe/IMF

Former Nigeria’s Central Bank Governor Godwin Emefiele (file photo).

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