Court grants Emefiele N300m bail

Central Bank of Nigeria CBN Governor Godwin Emefiele

A Federal Capital Territory High Court in Abuja on Wednesday granted bail in the sum of N300 million to the former governor of the Central Bank of Nigeria Godwin Emefiele.

Justice Hamza Muazu also ordered him to produce two sureties in the sum of N300 million who must have property in the Maitama district of Abuja.

The sureties must present the title documents and certificates of occupancy (C of O) to the court for verification.

The judge further added that Emefiele should submit to the registrar of the court his travelling documents and must be within Abuja within the period of his trial.

Subsequently, he adjourned the hearing of the trial until November 28.

Court sends Emefiele to Kuje facility nine days after release

EFCC finally brings Emefiele to court

Emefiele was arraigned on a six-count charge by the Economic and Financial Crimes Commission (EFCC) bordering on procurement fraud to the tune of N6.9 billion, conferment of advantage.

He was released last week after spending 151 days in custody, following the order of Justice Olukayode Adeniyi of the same High Court of the FCT on the enforcement of rights.

The anti-graft agency had in August first charged Emefiele and Sa’adatu Yaro and a company, April 1616 Investment Limited, purported to belong to Mrs Yaro, on alleged breach of the Procurement Act in respect of the purchase of some vehicles.

However, the arraignment could not go on because of the reported ill health of Mrs Yaro.

In the new charge, Emefiele is the sole defendant and the charges were reduced from 20 to six. The embattled former CBN boss pleaded not guilty.