Former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, who was on Wednesday in Abuja granted bail in the sum of N300 million and two sureties in like sum, is in the heat of fulfilling the bail conditions and is to remain in Kuje Correctional Centre until they are accomplished.
Justice Hamza Muazu of the Federal Capital Territory High Court who gave the bail, said the sureties must have certificates of occupancy and titles of properties within the Maitama District, Abuja.
He said Emefiele must remain in Kuje Correctional Centre pending when he meets the bail conditions.
Emefiele has been ordered to deposit all his travel documents with the Registrar of the court and must remain within the Abuja Municipal Council during the trial.
Timesreporters Online reports reports that Emefiele’s bail is coming four months after the Federal High Court sitting in Lagos granted him bail in the sum of N20 million.
It is recalled that the Federal Government had on November 17 arraigned Emefiele on a six-count charge bordering on alleged procurement fraud.
The original charge of 20 counts amounting to N6.5 billion fraud, was reduced to six with N1.6 billion unlawfully expended.
He had applied for bail after pleading not guilty to the six-count charge at his arraignment.
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 reads: “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 also 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.
