The Federal Capital Territory High Court in Abuja has granted bail to Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN).
Justice Hamza Muazu approved bail in the amount of N300 million, requiring two sureties with certificates of occupancy and property titles within the Maitama District.
Emefiele is obligated to submit all his travel documents to the court registrar and remain within the Abuja Municipal Council. Until he fulfills the bail conditions, he will be held at the Kuje Correctional Centre. This decision follows a similar bail granted by the Federal High Court in Lagos four months ago, where he was granted bail with a sum of N20 million.
In a noteworthy development, the government, led by President Bola Tinubu, has reduced the charges against Emefiele. Initially facing 20 counts of alleged procurement fraud, the charges have now been streamlined to six. The amended charge sheet, marked CR/577/2023, maintains the focus on procurement fraud, but with a notable reduction in the alleged amount from N6.9 billion to N1.2 billion.