The Federal Capital Territory High Court in Abuja has granted N300 million bail to Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN), who is facing charges of alleged procurement fraud. Justice Hamza Muazu approved the bail with two sureties in like sum, specifying that the sureties must possess certificates of occupancy and titles of properties within the Maitama District of Abuja.
Emefiele was also directed to deposit all his travel documents with the court registrar and remain within the Abuja Municipal Area Council. However, the judge ordered him to stay in the Kuje Correctional Centre until he fulfills the bail conditions.
Justice Muazu dismissed objections from the Economic and Financial Crimes Commission (EFCC) regarding Emefiele being a flight risk or posing a threat to the investigation and national security. The judge noted that Emefiele had been granted bail on November 8 by another court and had willingly attended his arraignment after a week.
Emefiele, who was not present in court due to the earlier-than-scheduled hearing, is facing six counts of procurement fraud amounting to N1.2 billion. The trial is set to commence on November 28.
This development comes amid ongoing legal proceedings involving high-profile individuals in Nigeria, reflecting the broader efforts to address corruption and financial misconduct within the country.