The ongoing trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, took a dramatic turn on Thursday as an Economic and Financial Crimes Commission (EFCC) investigator told the FCT High Court in Maitama, Abuja, that the former apex bank chief did not personally benefit from the controversial $6.23 million cash withdrawal at the centre of the case.
The testimony came during the cross-examination of the EFCC’s lead investigator, Eloho Okpoziakpo, the 14th prosecution witness, who has been investigating multiple corruption allegations against Emefiele following his removal from office in June 2023.
Emefiele is facing a 20-count charge bordering on alleged criminal breach of trust, forgery, obtaining money by false pretence, procurement fraud and conspiracy.
One of the charges relates to the withdrawal of $6.23 million from a CBN vault on February 8, 2023. The EFCC alleges that Emefiele and his former aide, Odoh Eric Ocheme, who remains at large, fraudulently obtained the money using a forged letter purportedly issued by the Office of the Secretary to the Government of the Federation (SGF).
According to the prosecution, the letter falsely claimed that then-President Muhammadu Buhari had authorised the release of the funds as a “contingent logistic advance.”
However, during Thursday’s proceedings, defence counsel Matthew Burkaa (SAN) asked the witness directly whether investigations showed that Emefiele benefited from the money either in cash or through bank transfers.
Responding, Okpoziakpo said, “No, he did not.”
The witness further confirmed that court exhibits identified one Jubril Abubakar as the individual who physically collected the $6.23 million.
He also acknowledged that Abubakar neither worked in the SGF’s office nor is he currently standing trial over the alleged fraud.
Emefiele Denied Approving Withdrawal
The investigator also recalled interviewing Emefiele at the Kuje Correctional Centre on December 13, 2023.
According to him, the former CBN governor denied approving the release of the funds or receiving the purported SGF letter.
“He denied signing the approval for the release of the money. He also denied receiving any letter from the SGF and insisted the signature on the approval documents was not his,” the witness told the court.
Burkaa also questioned the witness on statements made by former CBN official Bashirudeen Maishanu, who allegedly confessed to participating in the transaction.
Okpoziakpo confirmed that Maishanu admitted his involvement and also disclosed that part of the disputed funds was recovered from him.
He added that no money was recovered from Emefiele.
No Forensic Analysis Conducted on Emefiele’s Signature
During cross-examination, the defence highlighted that while the EFCC conducted forensic analysis on the signature of former SGF Boss Mustapha to establish forgery, a similar examination was not carried out on Emefiele’s signature.
Responding, Okpoziakpo admitted that such an examination “would have been desirable.”
The defence argued that the omission was significant, especially as Emefiele has consistently maintained that the signatures attributed to him on the approval documents were forged.
Prosecution Insists Governor Had Final Authority
Following the cross-examination, Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), sought to re-examine the witness regarding Emefiele’s powers as CBN governor.
Okpoziakpo maintained that although no funds were traced directly to Emefiele, the former governor exercised authority over all CBN funds, saying every release of funds required his approval.
However, Justice Hamza Muazu rejected further questioning aimed at clarifying the forensic issue after the defence objected.
The judge ruled that the prosecution could not use re-examination to continue its investigation in open court, discharged the witness and adjourned the matter until Friday.
Earlier Witnesses Alleged Forged Presidential Documents
Previous prosecution witnesses have testified that the withdrawal documents bore forged signatures of former President Muhammadu Buhari and former SGF Boss Mustapha.
Mustapha, who testified in February 2024, denied authorising the release of the funds and insisted neither he nor the former president approved the payment.
Similarly, forensic expert Bamaiyi Mairiga told the court that documents used to facilitate the withdrawal were forged.
Another former CBN official, Bashirudeen Maishanu, had earlier admitted participating in processing the cash withdrawal, claiming the money was designated for payments to foreign election observers during the 2023 general elections.
The trial continues on Friday before the FCT High Court in Abuja.