JUST IN: Court Grants Emefiele N300m Bail

A Federal Capital Territory High Court in Abuja on Wednesday granted a former Governor of the Central Bank, Godwin Emefiele, bail.

He was granted bail in the sum of N300m and two sureties in like sum.

Ruling on his bail application on Wednesday, Justice Hamza Muazu said the sureties must have Certificates of Occupancy and titles of property within the Maitama District.

He also ordered Emefiele to deposit all his travel documents with the registrar of the court and to remain within the Abuja Municipal Area Council.

Muazu held that the former CBN governor be kept in Kuje Correctional Centre till he meets the bail conditions.

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.

But the FG reduced the charges to six to the tune of N1.2bn, which he was arraigned on last Friday.

Muazu, at the last proceeding, remanded Emefiele in Kuje prison pending his ruling on the former CBN governor’s bail application.

He adjourned the matter till November 28 for the commencement of trial.