Emefiele fails to meet N300m bail, to spend Xmas, new year 2024 in Kuje prison

Our reporter/ Immediate past governor of Central Bank of Nigeria (CBN), Godwin Emefiele will remain in Kuje correctional facility, Abuja following his inability to meet his bail conditions.

The former CBN boss was brought into court by operatives of the Nigerian Correctional Service (NCS) on Tuesday.

Mathew Burkaa, his lead counsel, told reporters that his client was yet to meet the bail conditions.

Emefiele was arraigned on a six-count charge bordering on procurement fraud on November 18 by the Economic and Financial Crimes Commission (EFCC).

He 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.

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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.

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

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

After the court session on Tuesday, the former CBN governor was returned to Kuje correctional facility by officials of the prison service.

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