A High Court of the Federal Capital Territory (FCT) in Maitama has granted bail to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

Justice Hamza Muazu on Wednesday, granted Emefiele N300 million bail on the condition that he surrenders his travel papers to the court.

The former CBN Governor will remain in Kuje Correctional Centre pending when he meets the bail conditions.

The bail condition included
two sureties in like sum with certificates of occupancy and titles of properties within the Maitama District.

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Emefiele, who is the only defendant in the suit, was absent Wednesday morning for the ruling on his bail application for he was already at the Kuje Correctional Centre.

Recall that the Federal High Court sitting in Lagos had granted him bail in the sum of N20 million.

The Federal Government arraigned Emefiele last Friday on a six-count indictment bordering on procurement allegations.

The original charge was 20 counts worth 6.5 billion naira, but the charges were reduced to 6 counts and 1.6 billion naira.

Stay tuned for more details…