Godwin Emefiele, a former Governor of the Central Bank, was granted bail on Wednesday by a Federal Capital Territory High Court in Abuja.
He was given bail in the sum of N300m, with two sureties in the same amount.
In a decision on his bail plea on Wednesday, Justice Hamza Muazu stated that the sureties must hold Certificates of Occupancy and titles to property in the Maitama District.
He also ordered Emefiele to submit all of his travel documents with the registrar of the court and to stay inside the Abuja Municipal Area Council.
Muazu ordered that the former CBN governor be imprisoned at the Kuje Correctional Centre until he met the bail requirements.
The Federal Government had initially proposed 20 procurement fraud allegations totaling N6.5 billion against the former CBN governor.
However, the FG reduced the charges to six in the amount of N1.2 billion, on which he was arraigned last Friday.
During the most recent hearing, Muazu remanded Emefiele in Kuje prison pending his decision on the former CBN governor’s bail application.
He continued the case until November 28 to begin the trial.