Breaking: Again, Court Grants Ex-CBN Governor, Emefiele Bail

The Federal Capital Territory High Court, Abuja, has granted the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, bail.

CityNews Nigeria understands that Justice Hamza Muazu granted 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.

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 comes four months after the Federal High Court Sitting in Lagos granted him bail in the sum of N20 million.

Recall that President Bola Tinubu-led government last week reduced to six counts the fraud charges it filed against Emefiele.

CityNews Nigeria understands that the charges, bordering on alleged procurement, were originally 20.

The amended charge sheet marked CR/577/2023, showed that the charges still border on procurement fraud, but the counts have been reduced from 20 to six.

Also, the quantum of the alleged procurement fraud was reduced from N6.9bn to N1.2bn.