By Pascal Ibe
Introduction
Power is transient, and Nigerian politicians and public office holders are often reminded that political office is temporary, fleeting, and must be used with humility for the public good.
Former high-ranking officials frequently discover that vulnerability replaces authority once they step down from office.
The afterlife of the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, aligns with this, as he has continued to face multiple cases of corruption and money laundering after being sacked in 2023 by President Bola Tinubu.
Emefiele became infamous after he introduced the controversial 2022 naira redesign policy, which triggered an acute cash shortage and plunged millions of Nigerians into deep economic hardship.
Claim
Isaac Fayose, a younger brother of Ayo Fayose, a former governor of Ekiti State, has claimed that Emefiele is “still in Kuje prison.”
In a viral video currently trending since 6 September, Fayose said the former CBN chief was powerful and arrogant four years ago, but today, he is still in Kuje prison.
“By this time four years ago, in 2022, just before the 2023 election, former CBN Governor Godwin Emefiele was very powerful and arrogant during the late President Buhari’s administration. He even bought many cars for his presidential ambition. Today, he is still in Kuje Correctional Centre. So, for the arrogant ones around us, tomorrow is bigger. Remember, Emefiele did the same; a day will come when the system will ask you to return what you stole,” Fayose said in the video.
Many people posted on Facebook, Instagram and the X platform here, here and here.
Verification
A review of credible reports from reputable news organisations in Nigeria showed that Emefiele has been granted a series of bails between 2023 and 2025.
He first regained his freedom from the custody of the Economic and Financial Crimes Commission (EFCC) after almost five months in detention in November 2023.
Then, a Federal Capital Territory (FCT) High Court sitting in Maitama, Abuja, on 17 November 2023 ordered the remand of the former CBN chief in Kuje Correctional Facility pending a ruling on his bail application.
Justice Hamza Muazu gave the order following Emefiele’s arraignment and his plea of not guilty to a six-count amended charge brought against him by the EFCC.
However, on 22 November of that year, the court granted him bail in the sum of N300m and two sureties in like sum.
Justice Muazu said the sureties must have Certificates of Occupancy and titles of property within the Maitama District.
He met the bail conditions and was released on 22 December 2023.
However, on 8 April 2024, he was again remanded in the custody of the EFCC after he was arraigned on fresh charges.
Emefiele was released from EFCC custody on 12 April after meeting his bail conditions, after the Lagos State High Court granted him N50 million.
In May 2025, Emefiele was accused of colluding with Eric Ocheme in the unlawful acquisition of a housing estate comprising 753 units.
He was also accused of embezzling and controlling billions of naira through proxy accounts.
Emefiele was arraigned on eight counts in the case. But in June of that year, the Federal Capital Territory High Court in Maitama, Abuja, granted bail to Emefiele, in the sum of N2bn.
Although the former CBN chief has not been in the news since this year, there is no fresh credible report that corroborates Foyose’s claim that Emefiele is still in Kuje as of 7 September 2026.
How it began in July 2023
His woes began when President Tinubu suspended him as the CBN chief on 9 June 2023.
A day later, the Department of State Services (DSS) confirmed the arrest of Emefiele.
After his prolonged detention by the DSS, the secret police bowed to pressure on 13 July 2023 and announced that the suspended apex bank chief had been charged to court.
Appearing before Justice Oweibo, the former apex bank chief pleaded “not guilty” to the two counts of illegal possession of firearm and ammunition filed against him by the Federal Government.
Later in August, the DSS withdrew its charges against Emefiele.
The secret police freed Emefiele on 26 October of that year just as the EFCC detained him the same day.
Emefiele spent 151 days in the custody of security agencies from June 10 to November 8.
Verdict
The claim that Emefiele is still in Kuje Prison till now, is FALSE.
Findings showed that he spent just 34 days in the correctional facility from 18 November to 22 December 2023.
He was subsequently remanded twice in 2024 and 2025 in EFCC custody but was later granted bail.
