Justice Hamza Muazu of the Federal Capital Territory (FCT) High Court in Maitama, Abuja, has ordered the remand of former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in Kuje Correctional facility pending his ruling on his bail application.
Justice Muazu gave the order on Friday, following Federal Government’s arraignment of Emefiele on a six-count amended charge of N1.6billion fraud.
When the six-count charge was read to Emefiele, he pleaded not guilty to the offence.
Emefiele is the sole defendant in the case involving six amended counts of corruption while the original charge, which was 20 counts involving alleged fraudulent N6.5 billion contracts, was reduced to six counts.
The Federal Government had alleged in the case that Emefiele illegally bought 43 vehicles between 2018 and 2020 worth N1.2 billion.
Lawyer to Emefiele, Mathew Burkaa (SAN), moved the application for bail, urging the court to grant temporary freedom to his client.
But the lawyer to the Federal Government, Rotimi Oyedepo (SAN), vehemently opposed the bail application.
After taking arguments from both parties, Justice Muazu said a bench ruling could not be delivered in view of the plethora of authorities cited by the two parties.
The Judge added that he needed a little time to study the authorities and peruse through the exhibits supplied by Emefiele to support his request for bail.
The judge consequently remanded Emefiele in Kuje correctional centre and adjourned the matter till Wednesday, November 22 for his ruling on the bail application.
The judge also adjourned the hearing in the substantive case till November 28.
In the old charge, Sa’adatu Ramallan-Yaro, a CBN staff member, and her company, April 1616 Investment Limited, were charged along with Emefiele.
The former CBN Governor and Mrs Ramalan-Yaro were accused of conspiracy and procurement fraud involving as much as N6.9 billion.
The charge alleged that Emefiele conferred corrupt advantages on Ms Ramalan-Yaro, using her firm, April 1616 Investment Limited, to execute several procurement contracts spanning years.
The government alleged that the defendants committed the offences by awarding contracts to Mrs Ramalan-Yaro’s company for the supply of cars.
The defendants, allegedly through the corrupt transactions, purchased a fleet of about 100 posh vehicles and armoured buses worth about N6.9 billion.
According to the charge, the alleged corrupt transactions took place between 2018 and 2020.
 High Court in Maitama, Abuja, has ordered the remand of former Governor of the){kind=link}