A High Court of the Federal Capital Territory (FCT) in Maitama has granted bail to former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
He was granted bail in the sum of N300 million.
In a ruling on Wednesday, Justice Hamza Muazu held that Emefiele should produce two sureties, who must have landed property in the Maitama District of the FCT.
Emefiele was not in court during today’s proceedings, having been remanded at Kuje Prison last week.
Another FCT High Court had two weeks ago ordered his release in a fundamental human rights suit he instituted against the federal government.
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, which he was arraigned on last Friday.
Muazu, at the last proceeding, remanded Emefiele in Kuje prison pending his ruling on the former CBN governor’s bail application.
The court adjourned till November 28 for the commencement of trial.