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Emefiele granted N300m bail

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EFCC accuses Emefiele of impersonating SGF to illegally obtain $6.2m

An Abuja High Court sitting in Maitama has granted N300 million in bail to Godwin Emefiele, the detained former Governor of the Central Bank of Nigeria (CBN).

In a ruling given by Justice Hamza Muazu, the court further ordered the embattled former CBN governor to present two sureties, both of whom must be residents of the Federal Capital Territory, Abuja, and hold landed property in the Maitama District.

It set November 28 as the start date for a full-fledged hearing on the six-count charge filed by the Economic and Financial Crimes Commission, or EFCC, against the defendant.

Emefiele had already been ordered by the court to submit all of his travel documents.

Chronicle NG reports that the Federal Government had filed six charges against Emefiele, accusing him of alleged unlawful procurement.

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The original accusation of 20 counts for N6.5 billion has been lowered to six charges for N1.6 billion. The new charge simply names Emefiele as a defendant.

On Friday, the former CBN governor appeared in court for a bail application, pleading not guilty to the six-count indictment after it was read to him.

So far, the trial has been halted three times. The trial was halted on Wednesday due to a statewide strike called by organized labour.

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