Nigeria Ex-CBN Governor Emefiele Granted N300M Bail Amid Procurement Fraud Charges

Justice Hamza Muazu of the Federal Capital Territory High Court in Abuja has granted Mr. Godwin Emefiele, the immediate past Governor of the Central Bank, bail in the sum of N300 million and two sureties in like sum.

The sureties must provide certificates of occupancy and titles of properties within the Maitama District. Emefiele must deposit all his travel documents with the court registrar and remain within the Abuja Municipal Council. Although absent during the bail ruling, Emefiele's lawyer, Mr. Mathew Burkaa, assured that his client is already at the Kuje Correctional Centre.

This development comes four months after the Federal High Court in Lagos granted him bail in the sum of N20 million. Emefiele faces a six-count charge of alleged procurement fraud, with the charges reduced from the original 20 counts to the tune of N6.5 billion. The case has been adjourned until November 22 for the ruling on Emefiele's bail application and November 28 for the commencement of the trial.