A High Court of the Federal Capital Territory, Abuja, sitting at Maitama on Wednesday, granted the former Governor of the Central Bank, Mr. Godwin Emefiele, bail in the sum of N300 million and two sureties in like sum.
In the ruling on Emefiele’s bail application on Wednesday, Justice Hamza Muazu stated that the sureties must have titles of property and Certificates of Occupancy within the Maitama District.
He also ordered the former CBN governor to deposit all his travel documents with the court’s registrar and to remain within the Abuja Municipal Area Council.
Muazu held that Emefiele be kept in Kuje Correctional Centre pending when he meets the bail conditions.
The former CBN governor is standing trial for alleged procurement fraud.
The Federal Government initially charged Mr. Godwin Emefiele with 20 counts of procurement fraud to the tune of N6.5 billion, but the FG reduced the charges to six, to the tune of N1.2 billion, which he was arraigned on last Friday.
Muazu, at the last proceeding, remanded Emefiele in Kuje Correctional Center pending his ruling on Emefiele’s bail application and November 28 for the commencement of trial.
He adjourned the matter till November 28 for the commencement of trial on the six-count charge the Economic and Financial Crimes Commission, EFCC, preferred against Emefiele.