Former CBN Governor, Godwin Emefiele Granted N300m Bail By FCT High Court

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

During the hearing of his bail application on November 22, the court ruled that the sureties must possess certificates of occupancy and titles of properties within the Maitama District.

Additionally, Emefiele has been ordered to deposit all his travel documents with the court’s registrar and remain within the Abuja Municipal Council. Until he meets the bail conditions, he is expected to stay at the Kuje Correctional Centre.

Emefiele was not present in court during the hearing as he is already in custody at the Kuje Correctional Centre. His lawyer, Mr. Mathew Burkaa, explained that this was normal procedure.

The former CBN governor is currently facing trial for alleged procurement fraud.

Initially, the Federal Government had brought forward 20 charges of procurement fraud amounting to N6.5 billion against Emefiele.

However, the charges were subsequently reduced to six, totaling N1.2 billion, on which he was arraigned last Friday.

The granting of bail to Emefiele has sparked interest and discussion among the public, as they observe the legal proceedings unfold.