Court grants Emefiele N300m bail

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

In passing judgment on his bail application today, 22 November, the court ruled that guarantors must have occupancy certificates and property titles in Maitama District. The court also ordered Emefiele to deposit all his travel documents with the court registrar and must remain at the Abuja Municipal Council.

He is expected to remain at Kuje Correctional Center until he meets his bail conditions.

Emefiele was absent from court during the hearing of his bail application. Her lawyer, Mr. Mathew Burkaa, however, said it was normal since he is already at the Kuje Correctional Centre.

Emefiele is on trial for alleged purchasing fraud. The Federal Government had initially preferred 20 counts of procurement fraud worth N6.5 billion against the former CBN governor. However, the FG reduced the charges to six, worth N1.2 billion, which was processed last Friday.


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