An Abuja High Court sitting at Maitama has granted bail to the detained former Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, to the tune of N300million.
The court, in a ruling that was delivered by Justice Hamza Muazu, further ordered the embattled erstwhile CBN boss to produce two sureties, who must be resident within the Federal Capital Territory, Abuja, and have landed property within the Maitama District.
It fixed November 28 to commence full-blown hearing on the six-count charge the Economic and Financial Crimes Commission, EFCC, preferred against the Defendant.
The court had earlier ordered Emefiele to surrender all his travelling documents.Muazu held that the former CBN governor be kept in Kuje Correctional Centre till he meets the bail conditions.
Emefiele is standing trial for alleged procurement fraud.The Federal Government had initially preferred 20 charges of procurement fraud to the tune of N6.5 billion against the former CBN governor.
But the FG reduced the charges to six to the tune of N1.2bn, which he was arraigned on last Friday.
