Emefiele is in court on accusations of procurement fraud.

After three postponements, the trial finally convened on Friday.

At first, the Federal Government had chosen to file 20 charges against the former CBN governor for procurement fraud totaling N6.5 billion.
However, the FG dropped six allegations against him, totaling more than N1 billion, when he was arraigned on Friday.

Mathew Burkaa SAN, Emefiele’s attorney, filed the request for bail during the Friday hearing, but Rotimi Oyedepo, the FG attorney, angrily objected to the former CBN governor being granted release.

A bench ruling, according to presiding judge Justice Hamza Muazu, was not possible given the abundance of authority that both sides had cited.
The judge stated that he required some time to review the evidence provided by Emefiele to support his bail plea as well as to research the relevant authorities.

However, he gave an order for Emefiele to be placed under arrest in the Kuje jail while his bail request was processed.

Muazu then postponed the case to November 28 for the start of the trial and November 22 for a decision on the bail application.

After serving 151 days in jail, Justice Olukayode Adeniyi issued an order on November 8th directing his release to his attorneys. This ruling is for his remand.