Justice Hamza Muazu of the Federal Capital Territory High Court Abuja has granted bail to the immediate past Governor of the Central Bank, Godwin Emefiele. The bail was set at the sum of N300 million, requiring two sureties with certificates of occupancy and titles of properties located within the Maitama District.
In the judgment delivered on November 22, the court specified that Emefiele must deposit all his travel documents with the court's registrar and remain within the Abuja Municipal Council. Until he meets the bail conditions, Emefiele is expected to stay at the Kuje Correctional Centre.
Notably, Emefiele was not present in court during the hearing of his bail application. His lawyer, Mr. Mathew Burkaa, explained that his absence was normal, as he was already at the Kuje Correctional Centre.
The former CBN governor is facing charges of alleged procurement fraud. Initially, the Federal Government had levied 20 charges of procurement fraud amounting to N6.5 billion against Emefiele. However, the charges were later reduced to six, totaling N1.2 billion, and he was arraigned on them last Friday.
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