former Central Bank Governor Godwin Emefiele. Image by punch
The court has granted the former governor of the Central Bank of Nigeria bail.
“A Federal Capital Territory High Court in Abuja granted bail to former Central Bank Governor Godwin Emefiele on Wednesday. The bail was set at N300 million, with two sureties required to provide the same amount.
In delivering the ruling on Emefiele’s bail application, Justice Hamza Muazu stipulated that the sureties must possess Certificates of Occupancy and titles to properties located within the Maitama District. Additionally, Emefiele was directed to submit all his travel documents to the court registrar and remain within the confines of the Abuja Municipal Area Council.”
“Emefiele is currently facing trial for alleged procurement fraud. Initially, the Federal Government filed 20 charges of procurement fraud amounting to N6.5 billion against the former Central Bank governor.”
“However, the Federal Government later reduced the charges to six, totaling N1.2 billion, and Emefiele was arraigned on these charges last Friday.
In the last court proceeding, Justice Muazu remanded Emefiele in Kuje prison pending his ruling on the former Central Bank governor’s bail application. The judge adjourned the matter to November 28 for the commencement of the trial.”