Former Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has been released from the Kuje Custodial Centre in Abuja on Friday afternoon, News About Nigeria reports.
Emefiele was released after his bail was perfected by his legal team after Justice Hamza Muazu granted him bail with stringent conditions.
Justice Muazu set the bail at N300 million with two sureties in like sum.
Emefiele had been arraigned on November 18 on a six-count charge related to procurement fraud.
The charges include allegations of using his position to provide a corrupt advantage on Sa’adatu Yaro, a CBN staff, by awarding a contract for the procurement of 43 vehicles worth N1.2 billion between 2018 and 2020.
While in custody at Kuje, Emefiele was required to submit all his travel documents with the court registrar and was restricted to the Abuja Municipal Area Council (AMAC).
According to the spokesman of the Federal Capital Territory (FCT) Command of the Nigeria Correctional Service (NCoS), Amos Duza, Emefiele was released around 2 pm on Friday.
Emefiele’s time in office is also under investigation, with allegations of embezzling billions of naira and committing other financial offenses.
The Special Investigator probing the CBN, Jim Obazee, submitted a report to President Bola Tinubu on December 9, 2023, revealing findings that implicated Emefiele in fraudulent cash withdrawals of $6.23 million and other financial irregularities.
The investigation further indicated that Emefiele, who served as CBN Governor from June 2014 to June 2023, engaged in fraud related to the redesign of the naira and allegedly held 543.4 million pounds in the United Kingdom.
