Justice Yusuf granted the bail after Emefiele was arraigned on an eight-count charge in which he is accused of among others, unlawfully acquiring a housing estate comprising 753 units, allegedly stealing and taking control of billions of naira in proxy accounts.
In the ruling, Justice Yusuf noted that Emefiele had been granted bail in three other criminal cases pending against him and that there was no evidence that he had jumped bail.
He then proceeded to admit him to bail on the condition that he must produce two sureties, who must own property worth ₦ 2 billion in either Asokoro, Maitama or Wuse 2 within the jurisdiction of the court.
Justice Yusuf ordered Emefiele to submit his travel documents to the court and directed that he must perfect the bail by Wednesday, failing which he would be remanded in custody.
The ruling was on the bail application moved by his lawyer, Matthew Burkaa, which was not objected to by prosecuting lawyer, Rotimi Oyedepo, who urged the court to impose additional conditions different from the ones earlier given by the other courts.