BREAKING: Court grants Emefiele N300m bail

A federal capital territory high court has granted bail to Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), in the sum of N300 million.


According to the judge, the former CBN governor must produce two sureties in like sum.


The sureties must have certificates of occupancy and titles of properties within the Maitama district in Abuja.


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


He is expected to remain in Kuje Correctional Centre pending the perfection of his bail conditions.




Emefiele was first granted bail on November 8, after he filed a fundamental human rights suit protesting his detention for 151 days.


On November 18, he was arraigned on a six-count charge bordering on procurement fraud.


Emefiele was accused of using his position to confer a corrupt advantage on Sa’adatu Yaro, a staff of CBN, by awarding a contract for the procurement of 43 vehicles worth N1.2 billion between 2018 and 2020.


They include 37 Toyota Hilux vehicles at the cost of N854.7 million, one Toyota Avalon at the cost of N99.9 million, one Toyota Landcruiser V8 at the cost of N73.8 million, two Toyota Hilux Shell Specification vehicles at the cost of N44,200,000.


He was also alleged to have awarded Yaro a contract for the procurement of two Toyota Landcruiser VXR V8 worth N138 million.


Emefiele pleaded “not guilty” to the amended charge.


Thereafter, he was remanded at the Kuje correctional facility pending ruling on his bail application on November 22 (today).

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