Godwin Emefiele, the former Governor of Central Bank of Nigeria, has been granted bail by an FCT High Court in Abuja on Wednesday. He was granted bail of the sum of 300 million Naira and two sureties consisting of the same amount.
Recall that the former Cbn Governor is facing trial for alleged procurement fraud as charged by the federal government to the tune of about 6.5 billion Naira.
The federal government had earlier presented 20 charges of procurement fraud which has now been reduced to 6 charges which sums up to 1.2 billion naira, Emefiele was also remanded in Kuje correctional center till he meets bail conditions which have now been met.
Justice Hamza Muazu ruled bail on his application on Wednesday but maintained that Emefiele’s sureties must possess certificate of occupancy and titles of property within Maitama axis.
He also ordered Emefiele to deposit all his travel documents with the registrar of the court and to remain within the Abuja Municipal Area Council.
He adjourned the matter till November 28 for the commencement of trial.
