Alleged Procurement Fraud: Court grants Emefiele N300m bail

Justice Hamza Muazu of the High Court of the Federal Capital Territory (FCT), sitting at Maitama, Abuja, today (Wednesday) admitted former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to bail.

Emefiele was arraigned before the court on Friday, November 17, on a six-count charge bordering on conferring corrupt advantage on a female staff member of the CBN, contrary to the process vision of Section 19 of the Corrupt Practises and Other Related Offences Act.

Though he pleaded not guilty to the charge preferred against him, the court adjourned to today to consider his bail application and remanded him at the Kuje Correctional Centre, depending on the determination of his bail.

Ruling on his bail application this morning, Justice Muazu admitted the former CBN chief to bail in the sum of N300 million with two sureties in like sum.

Each of the sureties, according to the law, must possess landed property within the jurisdiction of the court with a title document.

The Certificate of Occupancy of the property, as the court ordered, must be deposited with the court, which will verify the same.

Emefiele was ordered to equally deposit his travel documents with the court and shall remain in custody at the Kuje Correctional Centre pending when he perfects his bail conditions.

The matter is subsequently adjourned to November 28 for a hearing.