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    Home → Politics → How Emefiele withdrew $6.23m cash from CBN vault
    How Emefiele withdrew $6.23m cash from CBN vault

    How Emefiele withdrew $6.23m cash from CBN vault

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    By Naija Daily News on January 30, 2026 Politics
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    By Douglas Maha, Abuja

    A senior official of Nigeria’s central bank told a court on Thursday that $6.23 million was withdrawn from the bank’s Abuja branch in February 2023 using documents later found to be forged, in a case involving former central bank governor Godwin Emefiele.

    Testifying at the Federal Capital Territory High Court, Bashirudden Maishanu, an assistant director at the Central Bank of Nigeria, said the cash was presented as funding for election observers and logistics during the 2023 polls.

    Maishanu, appearing as the 11th prosecution witness for Nigeria’s anti-graft agency, said he became acquainted with Emefiele in 2015 through a former personal assistant to the ex-governor identified as Eric.

    According to his testimony, Maishanu was approached in early January 2023 by a man who identified himself as Alhaji Ahmed, claiming to be linked to a special committee in the office of the Secretary to the Government of the Federation. Ahmed said he had been directed by Eric to discuss transactions being processed at the central bank, Maishanu told the court.

    Maishanu said Ahmed later produced what he claimed was written presidential approval for the cash withdrawal and sought help in facilitating the transaction at the CBN. He said he declined to be directly involved but recommended a friend to accompany the process.

    On Feb. 8, 2023, Maishanu said, his friend and a driver collected $6.23 million in cash from the CBN’s Garki branch and delivered it to a location on Ibrahim Coomassie Crescent in Abuja. He added that Ahmed left the venue with $2.5 million, accompanied by associates.

    See also  EFCC Arraigns Suspect Arrested With $578,000 in Lagos

    Maishanu told the court that he advised his friends to retain the remaining money, describing the sum involved as unusually large and saying there had been no prior agreement on payment.

    The witness also outlined disciplinary measures within the CBN, saying sanctions for staff misconduct ranged from warnings to dismissal, depending on the outcome of internal investigations.

    Emefiele is being tried on charges filed by the Economic and Financial Crimes Commission, including allegations of corruption, accepting gratification, receiving gifts through intermediaries and fraudulent receipt of property.

    CBN EFCC
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