Justice Hamza Muazu of the Federal Capital Territory High Court has granted bail to former Central Bank Governor Godwin Emefiele in the amount of N300 million. The bail requires two sureties with proof of Maitama property ownership.

Emefiele must surrender his travel documents and remain within Abuja during the case. He will stay at Kuje Correctional Center until bail terms are met.

In October, a Federal High Court had granted Emefiele bail for N20 million in a separate case. Last week, he pleaded not guilty to revised corruption charges alleging illegal procurement of vehicles while CBN Governor.

The charges accuse Emefiele of abusing his position to award inflated supply contracts worth over N1 billion to a company directed by Central Bank staffer Sa’adatu Yaro between 2018-2020.

Justice Muazu adjourned the case until November 22nd for a bail ruling and November 28th for trial commencement. He remanded Emefiele to Kuje prison pending bail fulfillment.