Adedapo Adesanya
By Adedapo Adesanya
Justice Hamza Muazu of the Federal Capital Territory High Court Abuja has granted the immediate past Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, bail in the sum of N300 million and two sureties in like sum.
The sureties must have certificates of occupancy and titles of properties within the Maitama District, the judge held.
Mr 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 when he meets the bail conditions.
This is coming four months after the Federal High Court Sitting in Lagos granted him bail in the sum of N20 million.
Business Post reported last week that the federal government arraigned Mr Emefiele last Friday on a six-count charge bordering on alleged fraudulent procurements.
The original charge, which was 20 counts to the tune of N6.5 billion, was reduced to six to the tune of N1.6 billion. Mr Emefiele is the only defendant in the new charge.
The former CBN governor appeared in court last week for an application for bail, pleading not guilty to the six-count charge after it was read to him.
According to the amended charge sheet, the charges still border on procurement fraud.
The prosecutors alleged that Mr Emefiele illegally bought 43 vehicles between 2018 and 2020 worth N1.2 billion.
He was also accused of awarding a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854 million.
He was also accused of conferring a corrupt advantage contrary to Section 19 of the Corrupt Practices and Other Related Offences Act 2000 by awarding a contract for the supply of one Toyota Landcruiser V8 April 1616 Investment Ltd., in 2019 at the cost of N73 million.
The fourth count was about a Toyota Landcruiser V8 valued at N73.8 million awarded illegally to April 1616 Investment Ltd.
The FG further accused the former CBN governor of also awarding a contract to his ally, Mrs Sa’adatu Ramallan Yaro for the supply of two Toyota Hilux Shell Specification Vehicles at the cost of N44.2 million in 2020.
Justice Muazu of the Federal Capital Territory High Court then adjourned the case till November 22 (today) for ruling on the bail application of Mr Emefiele and November 28 for the commencement of trial.
