A Federal Capital Territory High Court in Abuja granted bail to former Central Bank Governor, Godwin Emefiele, on Wednesday, setting bail at N300 million alongside two sureties of equal sum. In the ruling, Justice Hamza Muazu specified that the sureties must possess Certificates of Occupancy and property titles within the Maitama District.
The conditions further mandated Emefiele to surrender all travel documents to the court registrar and restrict his movement within the Abuja Municipal Area Council. Until meeting bail requirements, the former governor will remain in Kuje Correctional Centre, as directed by Muazu.
Emefiele faces allegations of procurement fraud, initially charged with 20 counts amounting to N6.5 billion by the Federal Government. However, the charges were reduced to six, totaling N1.2 billion, on which he was arraigned last Friday. The trial is scheduled to commence on November 28, following the adjournment by Muazu during the recent proceedings.
