The Former Central Bank of Nigeria (CBN), Governor Godwin Emefiele has been released from Kuje Prison after meeting the bail conditions set by the authorities.
The bail, totalling N300 million, was fulfilled, enabling Emefiele’s departure from detention.
This comes following his arrest and subsequent remand at Kuje Prison.
Emefiele’s compliance with the bail requirements facilitated his release from custody, marking a pivotal moment in this legal saga.
Further details surrounding the circumstances of his release and any additional developments are awaited.
Recall that a Federal Capital Territory High Court in Abuja had granted Emefiele bail in November 2023.
He was granted bail in the sum of N300m and two sureties in like sum.
Ruling on his bail application, Justice Hamza Muazu said the sureties must have Certificates of Occupancy and titles of property within the Maitama District.
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.
Muazu held that the former CBN governor be kept in Kuje Correctional Centre till he meets the bail conditions.
Emefiele is standing trial for alleged procurement fraud.
The Federal Government had initially preferred 20 charges of procurement fraud to the tune of N6.5 billion against the former CBN governor.
But the FG reduced the charges to six to the tune of N1.2bn, for which he was arraigned for.
Count one read, “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.”
Muazu, at the last proceeding, remanded Emefiele in Kuje prison pending his ruling on the former CBN governor’s bail application.
He adjourned the matter till November 28 for the commencement of trial.