In a legal development, the Federal Capital Territory High Court has scheduled January 18, 2024, for the resumption of the trial involving Godwin Emefiele, a former Governor of the Central Bank of Nigeria. Emefiele is facing charges related to alleged procurement fraud.
The accusations revolve around Emefiele’s alleged misuse of his position to confer corrupt advantages upon Sa’adatu Yaro, a staff member of the CBN.
The charges specifically involve the awarding of a contract for the procurement of 43 vehicles valued at N1.2 billion between 2018 and 2020.
Related News: https://savingpointmedia.com/tragedy-strikes-as-residents-discover-decomposing-newborn-in-ogun-state/
Following the initial legal proceedings, Emefiele was remanded at the Kuje Correctional Centre.
His bail application came up for ruling on November 22, where Justice Hamza Muazu granted him bail in the amount of N300 million.
However, Emefiele is yet to fulfill the conditions for his release.
The conditions set by the judge require the former CBN governor to provide two sureties in a like sum.
Additionally, the sureties must possess certificates of occupancy and titles of properties located within the Maitama district in Abuja.
As of now, Emefiele remains in custody, escorted to and from court by armed personnel of the Nigerian Correctional Service. Further details on the case are expected to emerge in subsequent proceedings.
You can also read: https://savingpointmedia.com/financial-stocks-surge-as-banks-gear-up-for-recapitalization/