BREAKING: Abuja court grants former CBN gov, Emefiele, N300m bail

The embattled former Governor of the Central Bank of Nigeria (CBN), has been granted bail to the tune of N300 million by a Federal Capital Territory High Court in Abuja on Wednesday.

Justice Hamza Muazu, in his ruling on Emefiele’s bail application on Wednesday, said the sureties must have Certificates of Occupancy and titles of property within the Maitama District in Abuja.

He also ordered Emefiele to deposit all his travel documents with the registrar of the court and to remain within the Abuja Municipal Area Council.

Justice Muazu further ordered that the former CBN governor be kept in Kuje Correctional Centre till he meets the bail conditions.

READ ALSO:Emefiele to be arraigned today on fraud related charges, may be arrested again

Ripples Nigeria reports that Emefiele is standing trial for alleged procurement fraud.

It will be recalled that the Federal Government had initially brought 20 charges of procurement fraud to the tune of N6.5 billion against the former CBN governor, before reducing the charges to six to the tune of N1.2bn, which he was arraigned for last Friday.

Justice Muazu, at the last proceeding, remanded Emefiele in Kuje prison pending his ruling on his bail application.

He adjourned the matter till November 28 for commencement of trial.

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