JUSTICE Hamza Muazu of the Federal Capital Territory High Court in Abuja has granted bail in the sum of N300 million and two sureties in the same amount to the immediate past Governor of the Central Bank, Godwin Emefiele.
The sureties must have occupancy certificates and titles to properties in the Maitama District.
Emefiele has been ordered to surrender all of his travel documents with the court’s registrar and to remain within the Abuja Municipal Council.
He is scheduled to remain in Kuje Correctional Centre till his bail conditions are met.
Emefiele was not present for the decision on his bail application this morning. However, Mathew Burkaa, his lawyer, said it was normal because he was already at the Kuje Correctional Centre.
This comes four months after the Federal High Court in Lagos granted him N20 million bail.
Recall that last Friday, the Federal Government arraigned Emefiele on a six-count charges of alleged procurement fraud.
The original charge, which was 20 counts for N6.5 billion, was reduced to six counts worth N1.6 billion. The new charge simply names Emefiele as a defendant.
The first count reads, “That you, Godwin Ifeanyi Emefiele, male, adult, sometime in 2018 within the jurisdiction of this Honourable Court did use your position as Governor of the Central Bank of Nigeria to confer a corrupt advantage on Sa’adatu Ramallan Yaro, a staff of the Central Bank of Nigeria by awarding a contract for the supply of 37 Toyota Hilux Vehicles at the cost of N854,700,000 only to April1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro is a director and thereby committed an offence.”
While in the second count, Emefiele was accused of using his position to corruptly confer an advantage on Yaro, “a staff of the Central Bank of Nigeria by awarding a contract for the supply of one Toyota Avalon at the cost of N99,900,000 only to April1616 Investment Ltd, a company in which the said Sa’adatu Ramallan Yaro Director and thereby committed an offence.”
He was also charged with conferring a corrupt advantage in violation of Section 19 of the Corrupt Practices and Other Related Offences Act 2000 by awarding a contract for the supply of one Toyota Landcruiser V8 April1616 Investment Ltd., for N73m, in 2019.
The fourth charge involved a Toyota Landcruiser V8 for N73,800,000 that was illegally granted to April 1616 Investment Ltd.
The Federal Government also accused the former CBN governor of giving Yaro a contract in 2020 for the supply of two Toyota Hilux Shell Specification Vehicles for N44,200,000.
Justice Hamza Muazu of the Federal Capital Territory High Court then adjourned the case till November 22 for ruling on the bail application of Emefiele and November 28 for the commencement of trial.
