Former CBN Governor Emefiele Granted Bail
By Patience Ikpeme
In a significant development, the Federal Capital Territory High Court in Abuja has granted bail to the former Central Bank of Nigeria Governor Godwin Emefiele, who has been in detention for months.
Presiding Justice Hamza Muazu granted Emefiele bail in the sum of N300 million, with two sureties in like sum. The sureties must each possess a Certificate of Occupancy and title to a property within the Maitama District of Abuja.
Emefiele has also been ordered to surrender all his travel documents to the registrar of the court and remain within the Abuja Municipal Area Council.
Until he fulfils these bail conditions, the former CBN governor will remain in Kuje Correctional Centre.
The Federal Government had initially leveled 20 counts of procurement fraud totaling N6.5 billion against Emefiele. However, the charges were reduced to six counts involving N1.2 billion, for which he was arraigned on Friday.
At the previous hearing, Justice Muazu remanded Emefiele in Kuje prison pending his ruling on the bail application. The trial is scheduled to commence on November 28.
Emefiele’s bail marks a crucial turning point in the legal proceedings against him. The court’s decision suggests that Emefiele has met the criteria for bail, and he will now have the opportunity to defend himself against the charges while awaiting trial.
