Court Admits Ex-CBN Governor, Emefiele To N300m Bail

By Garry Ochigbo

Justice Hamza Muazu of the High Court of the Federal Capital Territory has granted former CBN Governor, Godwin Emefiele bail in the sum of three hundred million naira with two sureties in like sum and must deposit his travel documents.

The court granted the ex-CBN governor to bail with two sureties who must also be owners of landed property in Maitama and must deposit the certificate of occupancy of the properties.

Meanwhile, the judge ordered that he be remanded at the Kuje Correctional Centre pending fulfillment of the bail conditions.

The court also orders that travel documents of Emefiele be returned to the court and must remain with the jurisdiction of the FCT high court and must seek the court leave before any travels.

Justice Muazu has fixed November 28 forcommencement of full trial.

At the last sitting on Friday, Emefiele was arraigned and pleaded not guilty to a six-count amended charge brought against him by the Economic and Financial Crimes Commission (EFCC).

The original charge against the Ex-CBN governor was 20 counts which has been reduced to six, to the tune of N1.6 billion and Emefiele is the only defendant in the new charge.

According to the amended charge sheet, the charges still border on procurement fraud over alleged illegal purchase of 43 vehicles between 2018 and 2020 worth N1.2 billion including awarding a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854 million.

He was also accused of conferring 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 Land cruiser V8 April1616 Investment Ltd, in 2019 at the cost of N73 million.

The fourth count was about a Toyota Land cruiser V8 valued at N73,800,000 awarded illegally to April 1616 Investment Ltd.

The Federal Government further accused the former CBN governor of also awarding a contract to Yaro Sa’adatu a staff of CBN, for the supply of two Toyota Hilux Shell Specification Vehicles at the cost of N44,200,000 in 2020.

Edited By Grace Namiji