Justice Hamza Muazu of the Federal Capital Territory High Court Abuja has granted Mr. Godwin Emefiele, the immediate past Governor of the Central Bank, bail in the amount of N300 million, along with two sureties required to provide the same sum.
The stipulated conditions mandate the sureties to possess certificates of occupancy and titles for properties within the Maitama District. Additionally, Emefiele is obligated to submit all his travel documents to the court’s registrar and is restricted to stay within the Abuja Municipal Council.
Pending the fulfillment of the bail conditions, Emefiele is to remain in Kuje Correctional Centre. This development follows a similar bail granted by the Federal High Court in Lagos four months prior, amounting to N20 million.
The charges against Emefiele relate to alleged procurement fraud, with the Federal Government accusing him of engaging in illegal purchases of 43 vehicles between 2018 and 2020, totaling N1.2 billion. Furthermore, he is alleged to have awarded a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854 million.
The amended charge sheet indicates that Emefiele, during his tenure as Governor of the Central Bank of Nigeria, used his position to confer a corrupt advantage on Sa’adatu Ramallan Yaro, a Central Bank staff, by awarding contracts to a company in which Yaro is a director. Emefiele pleaded not guilty to the six-count charge during his appearance in court, and the charges continue to center on allegations of procurement fraud.
