Procurement fraud: Emefiele gets released from Kuje prison upon fulfilling the requirements of his bail

Godwin Emefiele, the troubled former governor of the Central Bank of Nigeria, has been released from Kuje Correctional Center after fulfilling his bail requirements.

The Center’s spokesperson, Adamu Duza, verified the development, stating that Emefiele was freed on Friday, December 22, 2023.

“I can assure you that he (Emefiele) has fulfilled his bail requirements, so he has no reason to stay in our facility,” the spokesman stated.

“He fulfilled his bail requirements and was freed after 2:00 PM on Friday.

Since his removal from office, the Federal Government has been pursuing legal action against the former head of the top bank for alleged procurement fraud. The Federal Capital Territory High Court in Abuja’s Justice Hamza Muazu granted him ₦300 million bail with two sureties in the same amount.

Read Also:The Enugu State Supreme Court Upholds Peter Mbah’s Election. » WHITEBEETLES

The troubled banker was accused of using his power to provide Yaro a dishonest advantage by giving him a deal for ₦1.2 billion to buy 43 cars between 2018 and 2020.

Additionally, he was charged with giving Yaro a ₦138 million contract to purchase two Toyota Landcruiser VXR V8 vehicles.

On November 22, Justice Hamza Muazu of the Federal Capital Territory High Court Abuja granted him ₦300 million bail with two sureties in the same amount.

The judge said the sureties must have certificates of occupancy and titles of properties within the Maitama District of Abuja.

Read Also: The CBN Finally Relaxes The Ban On Bank Transactions Involving Cryptocurrencies. » WHITEBEETLES

In addition, he mandated that Emefiele stay inside the boundaries of the Abuja Municipal Area Council and deposit all of his travel documentation with the court’s registrar.

After President Bola Tinubu suspended the former governor of CBN, the Department of State Services (DSS) initially detained him in June.

He was granted bail of ₦20 million after being charged in July at a federal high court in Ikoyi on two counts that hinted to “illegal possession” of a handgun.

This week, Jim Obaze, a special investigator investigating the CBN’s operations under Emefiele, charged the troubled banker and others with embezzlement of billions of naira in addition to other serious financial offenses.

Credit: Puls.ng