JUST IN: Ex CBN gov Emefiele granted N300m bail by Abuja Court
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A Federal Capital Territory High Court in Abuja granted bail to former Central Bank Governor Godwin Emefiele on Wednesday.
He was given bail in the amount of N300,000, with two sureties in the same amount.
On Wednesday, Justice Hamza Muazu denied his bail plea, stating that the sureties must have Certificates of Occupancy and titles to property in the Maitama District.
He also directed Emefiele to submit all of his travel documents with the court’s registrar and to stay inside the Abuja Municipal Area Council.
Muazu ordered that the former CBN governor be imprisoned at the Kuje Correctional Centre until the bail requirements were met.
The Federal Government initially proposed 20 procurement fraud allegations totaling N6.5 billion against the former CBN governor.
However, the FG reduced the charges to six for a total of N1.2 billion, on which he was arraigned last Friday.
In the most recent hearing, Muazu remanded Emefiele in Kuje prison pending his decision on the former CBN governor’s bail plea.
He continued the case until November 28 for the start of the trial.