The High Court of the Federal Capital Territory in Maitama has granted bail to former Central Bank of NigeriaGovernor Godwin Emefiele. 

The bail was set at a sum of N300 million, with two sureties required to provide landed property in the Maitama District of the FCT as collateral.

Justice Hamza Muazu presided over the ruling, which was issued on Wednesday, November 22, 2023. Emefiele was not present in court during the proceedings as he is currently being held at Kuje Prison.

The judge also ordered Emefiele to surrender all his travel documents to the court registrar and to restrict his movements within the Abuja Municipal Council. He is expected to remain in custody until he fulfills the bail conditions.

This bail decision comes four months after the Federal High Court in Lagos granted Emefiele bail in the sum of N20 million in a separate case. The current bail conditions are significantly higher than those imposed by the Lagos court.

Emefiele’s legal team expressed satisfaction with the ruling, acknowledging the strict bail conditions but emphasizing that the former CBN governor is willing to comply. They also expressed confidence that the charges against him will be dismissed in due course.

The trial of Emefiele is scheduled to commence on November 28, 2023.