Justice Hamza Muazu of the Federal Capital Territory High Court Abuja, has granted the immediate past Governor of the Central Bank, Godwin Emefiele, bail in the sum of N300 million and two sureties in like sum.
Delivering judgment in his bail application today November 22, the court ruled that the sureties must have certificates of occupancy and titles of properties within the Maitama District. The court also ordered Emefiele to deposit all his travel documents with the registrar of the court and must remain within the Abuja Municipal Council.
He is expected to remain in Kuje Correctional Centre pending when he meets the bail conditions.
Emefiele was absent in court during the hearing of his bail application. His lawyer, Mr Mathew Burkaa, however, said it was normal, as he is already at the Kuje Correctional Centre.
Emefiele is standing trial for alleged procurement fraud. The Federal Government had initially preferred 20 charges of procurement fraud to the tune of N6.5 billion against the former CBN governor. However, the FG reduced the charges to six to the tune of N1.2bn, which he was arraigned on last Friday.
