A Special Investigator appointed by President Bola Tinubu, Jim Obaze, has told the Federal Capital Territory (FCT) High Court in Maitama that former President Muhammadu Buhari and former Secretary to the Government of the Federation (SGF), Boss Mustapha, should also be prosecuted over the alleged unlawful withdrawal of $6.2 million from the Central Bank of Nigeria (CBN).
Obaze made the recommendation on Friday while testifying as a prosecution witness in the ongoing trial of former CBN Governor Godwin Emefiele, who is facing a 20-count charge bordering on conspiracy, abuse of office and fraud filed by the Economic and Financial Crimes Commission (EFCC).
According to Obaze, Buhari should be charged for his alleged role in the transaction, even if posthumously, while Mustapha should also face prosecution over documents that allegedly originated from his office.
He told the court that Mustapha had denied signing documents requesting the release of the $6.2 million, but insisted that the records before him linked the former SGF’s office to the transaction.
Obaze further argued that other individuals, including Bashirudeen Maishanu, a serving CBN staff member, and former members of the CBN board, should also be prosecuted alongside Emefiele.
He alleged that Maishanu refunded $856,500 to the special investigation panel, adding that the recovered money had been deposited with the CBN.
The witness also faulted the Abuja branch of the CBN for releasing the funds without carrying out the required due diligence. He urged the court to order the arrest and prosecution of Jibril Abubakar, who allegedly collected the money on the authority of the SGF’s office.
Obaze maintained that under the CBN Act, the naira equivalent of the $6.2 million should have been deposited before the foreign currency was released.
During cross-examination by Emefiele’s counsel, Matthew Burkaa (SAN), Obaze admitted that he did not recover any money from the former CBN governor and that there was no evidence showing any transfer of the funds into Emefiele’s personal account.
He, however, argued that Emefiele ought to have been aware of the transaction if the Abuja branch of the CBN had properly utilised its CCTV system and Bank Verification Number (BVN) portal before releasing the funds.
Obaze also stated that any irregularity in the transaction should have been detected during the preparation of the CBN’s annual financial statements if officials had exercised due diligence.
The witness told the court that President Bola Tinubu invited him on December 19, 2023, in the presence of the Attorney-General of the Federation and the EFCC Chairman, and directed him to prepare charges in connection with the alleged $6.2 million fraud.
When defence counsel pointed out that the charge had been prepared on August 14, 2023, Obaze said he was not a lawyer and could not comment on the discrepancy.
Justice Hamza Muazu subsequently adjourned the matter until October 20 for the continuation of trial.