Abuja High Court grants Emefiele N300m bail

On Wednesday, Godwin Emefiele, the former governor of the Central Bank, was granted bail by a Federal Capital Territory High Court located in Abuja.

He was given N300 million in bail, plus an additional N300 million for two sureties.

Judge Hamza Muazu ordered the sureties to possess Certificates of Occupancy and property titles within the Maitama District in his ruling on his bail application on Wednesday.

In addition, he gave Emefiele instructions to stay inside the Abuja Municipal Area Council and to turn in all of his travel documents to the court registrar.

The former CBN governor will remain in Kuje Correctional Centre until he satisfies the requirements for release, Muazu ruled.

Emefiele is accused of procurement fraud and is awaiting trial.

Initially, the Federal Government had filed 20 charges against the former CBN governor for procurement fraud totaling N6.5 billion.

However, the FG dropped the six N1.2 billion charges against him, and last Friday he was arraigned.

In the most recent hearing, Muazu remanded Emefiele in Kuje prison until he made a decision regarding the former CBN governor's bail request.

He postponed the matter until November 28 in order to start the trial.

Source