Justice Hamza Muazu of the Federal Capital Territory High Court Abuja on Wednesday granted the embattled immediate past Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on bail in the sum of N300 million and two sureties in like sum.
Delivering judgment in his bail application today, the judge ruled that the sureties must have certificates of occupancy and titles of properties within the Maitama District of the Federal Capital Territory.
In addition, the court also ordered Emefiele to deposit all his travel documents with the Registrar of the court and must remain within the Abuja Municipal Council pending the determination of the suit.
According to the ruling, the former apex bank governor is expected to remain in Kuje Correctional Centre pending when he meets the bail conditions.
Emefiele was absent in court during the hearing of his bail application but his counsel, Barrister Mathew Burkaa, said the absence of the accused was normal since he was already in the Kuje Correctional Centre.
The embattled banker, who is standing trial for alleged procurement fraud was formerly facing 20 charges of procurement fraud to the tune of N6.5 billion against the former CBN governor.
However, the FG reduced the charges to six to the tune of N1.2 billion, for which he was arraigned last Friday.
