A High Court sitting in Abuja has granted the embattled former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, bail for the sum of N300 million.
Justice Hamza Muazu of the FCT High Court delivered the judgement on Wednesday, ruling that the accused should also provide two sureties as part of the bail condition.
The sureties must have certificates of occupancy and titles of properties within the Maitama District.
As part of the bail conditions, Emefiele is mandated to surrender all his travel documents to the registrar of the court and must remain within the Abuja Municipal Council.
This latest bail grant comes four months after the Federal High Court Sitting in Lagos granted him bail in the sum of N20 million.
He is expected to remain in Kuje Correctional Centre pending when he meets the bail conditions.
Emefiele was absent Wednesday morning for the ruling on his bail application. His lawyer, Mr Mathew Burkaa, however, said it was normal, as he is already at the Kuje Correctional Centre.
The Federal Government, on Friday, November 17, 2023, arraigned Emefiele on a six-count charge bordering on alleged procurement.
The original charge, which was 20 counts to the tune of N6.5 billion, was reduced to six, to the tune of N1.6 billion. Emefiele is the only defendant in the new charge.
The former CBN governor appeared in court on Friday for an application for bail, pleading not guilty to the six-count charge after it was read to him.
