Former Governor of the Central Bank of Nigeria, Godwin Emefiele, has been granted bail by a Federal Capital Territory High Court in Abuja on Wednesday.
The bail was set at N300 million with two sureties.
Justice Hamza Muazu, presiding over the case, stipulated that the sureties must possess Certificates of Occupancy and titles of property within the Maitama District.
He was also ordered to deposit all his travel documents with the court registrar and to remain within the Abuja Municipal Area Council.
Until he meets these bail conditions, Emefiele will be kept in the Kuje Correctional Centre.
He is currently standing trial for alleged procurement fraud.
The Federal Government initially brought 20 charges of procurement fraud against him, amounting to N6.5 billion.
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However, these charges were later reduced to six, totaling N1.2bn, on which he was arraigned last Friday.
Justice Muazu had previously remanded godwin in Kuje prison pending his ruling on the bail application.
The case has been adjourned until November 28 for the commencement of the trial.