Court Grants Former CBN Gov, Emefiele N300m Bail

Justice Hamza Muazu of the Federal Capital Territory High Court Abuja, has granted the former Governor of the Central Bank, Godwin Emefiele, bail in the sum of N300 million and two sureties in like sum.

Emefiele is mandated to deposit all his travel documents with the registrar of the court and must remain within the FCT.

He is expected to remain in Kuje Correctional Centre pending when he meets the bail conditions.

INFORMATION NIGERIA learnt that Emefiele was absent on Wednesday morning for the ruling on his bail application.

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According to his lawyer, Mr Mathew Burkaa, however, disclosed that it was normal, as he is already at the Kuje Correctional Centre.

Recall that the Federal Government, last Friday, arraigned Emefiele on a six-count charge bordering on alleged procurement.

The original charge, which was 20 counts to the tune of N6.5 billion, was reduced to six, to the tune of N1.6 billion.

It was gathered that the former CBN boss is the only defendant in the new charge.