An Abuja High Court has granted bail to the detained former Governor of the Central Bank of Nigeria, CBN, 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 therefore 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.
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.
However, the FG reduced the charges to six to the tune of N1.2bn, which he was arraigned on last Friday.
Muazu, at the last proceeding, remanded Emefiele in Kuje prison pending his ruling on the former CBN governor’s bail application.
He adjourned the matter till November 28 for the commencement of trial.
