The formerly embattled Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has been released from Kuje prison, as confirmed by Umar Abubakar, the spokesman for the Nigerian Correctional Service (NCoS), on Saturday.

According to Abubakar, Emefiele regained his freedom on Friday after successfully meeting the conditions for his bail. The release follows a month after Justice Hamza Muazu, on November 22, 2023, granted Emefiele a N300 million bail, stipulating that his sureties must possess landed properties in the Maitama District of Abuja.

Justice Muazu had initially ordered Emefiele's remand in prison until the fulfilment of his bail conditions. The legal proceedings stemmed from Emefiele's arraignment in court by the Economic and Financial Crimes Commission (EFCC) and the Nigerian Federal Government, who accused him of involvement in an N1.2 billion procurement fraud.

Notably, news of Emefiele's release coincides with revelations of financial impropriety attributed to him, as outlined in the interim report of Jim Obazee, the special investigator conducting a probe into the Central Bank of Nigeria.