Alleged procurement fraud :Court admits Emefiele to N300m bail

A High Court in Abuja on Wednesday admitted the suspended Central Bank of Nigeria Governor, Godwin Emefiele to bail in the sum of N300 million .

Justice Hamza Muazu admitted Emefiele while ruling in the bail application.

Emefiele is charged with procurement fraud by the Economic and financial Crimes Commission (EFCC).

Muazu in addition, ordered for two sureties in the like sum of the N300 million who must have property in Maitama district of Abuja.

The sureties who must in addition present the title documents and certificates of occupancy (C of O) to the court for verification.

The judge further added that Emefiele should submit to the registrar of the court his travelling documents and must be within Abuja within the period of his trial.

He earlier held that bail is at the discretion of the court according to what was placed before it, however, according to the law.

He added that the offence which of a- six count of confinement of advantage on self attracted 5 year imprisonment as punishment.

He held that there was nothing in the prosecution’s submission that showed that Emefiele would absconded or would jeopardise investigation or threaten the security of the country.

Muazu in further held that he was granted bail on November 8, by Justice Olukayode Adeniyi of Abuja high court and was present in court after a week for his arraignment.

Subsequently, he adjourned the hearing of the trial until Nov. 28.

Earlier, Emefiele was arraigned on a-six court by the Economic and Financial Crimes commission (EFCC) bordering on procurement fraud to the tune of N6.9billion, conferment of advantage.

He was released last week after spending 151 days in custody, following the order of Justice Olukayode Adeniyi of the same High Court of the FCTon his enforcement of right.

Justice Muaza adjourned until Nov. 22, to determine the bail application, he also fixed Nov. 28, for the commencement of trial.

The anti-graft agency had in August, first charged Emefiele and Mrs Sa’adatu Yaro and a company, April 1616 Investment Limited, purported to belong to Mrs Yaro, on alleged breach of the procurement Act in respect of the purchase of some vehicles.

However, the arraignment could not go on because of the reported ill health of Mrs Yaro.

However, when the matter was called on Friday, EFCC’s lawyer, Mr Rotimi Oyedepo, SAN, drew the attention of the court to an amended charge dated Nov. 8, 2023.

In the new charge Emefiele was the sole defendant and the charge reduced from 20 to six, to which Emefiele pleaded not guilty.(NAN)