Emefiele unable to meet N300m bail, to remain in Kuje prison till 2024

Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), will remain in Kuje correctional facility, Abuja after he failed to meet his bail conditions.

The former CBN boss was brought into court by operatives of the Nigerian Correctional Service (NCS) where he is being remanded.

On November 18, Emefiele was arraigned on a six-count charge bordering on procurement fraud.

Emefiele was accused of using his position to confer a corrupt advantage on Sa’adatu Yaro, a staff of CBN, by awarding a contract for the procurement of 43 vehicles worth N1.2 billion between 2018 and 2020.

The vehicles included 37 Toyota Hilux at the cost of N854.7 million, one Toyota Avalon at the cost of N99.9 million, one Toyota Landcruiser V8 at the cost of N73.8 million, two Toyota Hilux Shell Specification at the cost of N44,200,000.

He was also alleged to have awarded Yaro a contract for the procurement of two Toyota Landcruiser VXR V8 worth N138 million.

Emefiele pleaded “not guilty” to the amended charge and was later granted bail in the sum of N300 million.

According to the court, the former CBN governor must produce two sureties in like sum.

The sureties must have certificates of occupancy and titles of properties within the Maitama district in Abuja.

Emefiele is mandated to deposit all his travel documents with the registrar of the court and must remain within the Abuja Municipal Council.

Mathew Burkaa, Emefiele’s lead counsel, told journalists that his client was yet to meet the bail conditions.

After the court session on Tuesday, the former CBN governor was taken away by officials of the prison service.