BREAKING: Ex-CBN governor Emefiele to remain in Kuje prison over failure to meet N300m bail

The former governor of the Central Bank of Nigeria (CBN) Godwin Emefiele will remain in prison after failing to meet the hefty N300 million bail set by the court.

Emefiele’s lawyer, Mathew Burkaa, who declined to speak on camera, said Emefiele is yet to meet his bail conditions.

The lawyer stated this on Monday as the Federal Capital Territory High Court, Abuja, adjourned the alleged procurement fraud case against Emefiele.

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The court adjourned the trial of the ex-bank chief to January 18 and 19, 2024 for continuation of trial.

Emefiele is standing trial on a six count amended charge on alleged procurement of vehicles to the tune of N1.6bn.

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He had pleaded not guilty to the charges.

He was granted bail on November 17, 2023 to the tune of N300m and two sureties and remanded at the Kuje Correctional Centre, pending when he meets his bail conditions.

At the resumed hearing, the Prosecution Witness, who is a top official of the Corporate Affairs Commission (CAC) told the court that Emefiele was not the owner or a shareholder of the April1616 Investment Limited, awarded N1.2bn vehicle supply contract by CBN under Emefiele.

He was led in evidence by EFCC lawyer, Rotimi Oyedepo , while tendering several documents on how the company was incorporated on August 1, 2016.

He further read out the names of the shareholders of the Company which comprises of Aminu Yaro, Maryam Abdullahi, and Saadatu Yaro as joint owners of the entity.

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