Justice Hamza Muazu of the High Court of the Federal Capital Territory (FCT) has granted former CBN governor Godwin Emefiele bail in the sum of three hundred million naira with two sureties in like sum and is to deposit his travel documents.
The court granted the ex-CBN governor bail with two sureties who must be owners of landed property in Maitama and are ordered to deposit the certificate of occupancy of the properties.
Meanwhile, the judge ordered that he be remanded at the Kuje Correctional Centre pending fulfillment of the bail conditions.
The court also orders that travel documents be returned to the court and must remain within the jurisdiction of the FCT and that he must seek court leave before any travels.
Meanwhile, Justice Muazu has fixed November 28 for the commencement of the full trial.
At last sitting on Friday Emefiele was arraigned and pleaded not guilty to a six-count amended charge brought against him by the Economic and Financial Crimes Commission (EFCC).
Justice Muazu, who took arguments on Emefiele’s bail application, adjourned till today for ruling on the bail application and November 28 for the commencement of trial.
The original charge against the Ex-CBN governor was 20 counts which has been reduced to six, to the tune of N1.6 billion. Emefiele is the only defendant in the new charge.
According to the amended charge sheet, the charges still border on procurement fraud. The Federal Government alleged that Emefiele illegally bought 43 vehicles between 2018 and 2020 worth N1.2 billion. He was also accused of awarding a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854 million.
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.”
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 accused of conferring corrupt advantage contrary to 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., in 2019 at the cost of N73 million.
The fourth count was about a Toyota Landcruiser V8 valued N73,800,000 awarded illegally to April 1616 Investment Ltd.
The Federal Government further accused the former CBN governor of also awarding a contract to Yaro for the supply of two Toyota Hilux Shell Specification Vehicles at the cost of N44,200,000 in 2020.
