The Federal Capital Territory High Court has adjourned till January 18, 2024, to continue the trial in the alleged procurement fraud suit against former Central Bank Governor Godwin Emefiele.

Emefiele is accused of using his position to confer a corrupt advantage on a CBN staff member, Sa’adatu Yaro, by awarding a contract to procure 43 vehicles worth N1.2 billion between 2018 and 2020.

He pleaded not guilty to the charges and was remanded at the Kuje Correctional Center pending a ruling on his bail application last Wednesday.

Justice Hamza Muazu, however, granted Emefiele bail in the sum of N300 million. But he is yet to meet his bail conditions, as he was brought to court and taken away by armed personnel of the Nigerian Correctional Service.

At the resumed hearing, the prosecution witness, who is a top official of the Corporate Affairs Commission (CAC), told the court that Emefiele was not the owner or a shareholder of April 1616 Investment Limited, awarded a N1.2bn vehicle supply contract by CBN under his leadership.