In a recent development, the Federal Capital Territory High Court in Abuja has granted bail to the former Governor of the Central Bank, Godwin Emefiele. The court approved a bail sum of N300 million along with two sureties in the same amount.
Justice Hamza Muazu, ruling on Emefiele’s bail application, specified that the sureties must possess Certificates of Occupancy and titles of property located within the Maitama District. Additionally, Emefiele has been instructed to deposit all his travel documents with the court registrar and to confine himself to the Abuja Municipal Area Council.
The judge directed that Emefiele be held in Kuje Correctional Centre until he fulfills the conditions for bail. The former CBN governor is facing trial on charges of alleged procurement fraud.
Initially facing 20 charges related to procurement fraud amounting to N6.5 billion, the Federal Government later reduced the charges to six, totaling N1.2 billion. Emefiele was arraigned on these revised charges last Friday.
During the previous court proceeding, Justice Muazu remanded Emefiele in Kuje prison pending the ruling on his bail application. The trial is scheduled to commence on November 28.
