The trial of former Governor of the Central Bank of Nigeria, Godwin Emefiele, continued on Tuesday as the 14th prosecution witness told the High Court of the Federal Capital Territory that suspects confessed to the fraudulent withdrawal of $6.23 million from the apex bank.
Emefiele is standing trial before Justice Hamza Muazu at the Maitama Division of the court on an amended 20-count charge bordering on criminal breach of trust, forgery, abuse of office, conspiracy, and obtaining money by false pretence. The funds in question were reportedly earmarked for international election observers during the 2023 general election.
The prosecution, led by the Economic and Financial Crimes Commission, also accused the former CBN governor of conferring corrupt advantages on two firms, April 1616 Nigeria Ltd and Architekon Nigeria Ltd. Emefiele has, however, pleaded not guilty to all charges.
At the resumed hearing, the witness, Eloho Okpoziakpo, a Commissioner of Police with the Special Fraud Unit, Lagos, told the court that he was part of a team assigned to assist the special investigator, Jim Obaze, appointed by President Bola Tinubu to probe the CBN and other government entities.
Okpoziakpo said his duties included obtaining statements, interrogating suspects, and providing intelligence to support the investigation. Led in evidence by prosecuting counsel Rotimi Oyedepo (SAN), he disclosed that intelligence reports indicated the $6.23 million was fraudulently withdrawn from the CBN Abuja branch with Emefiele’s approval.
“Investigation revealed that the money was fraudulently taken because some of the suspects, including Maishanu, who we investigated, confessed,” the witness said.
He further told the court that the Office of the Secretary to the Government of the Federation denied requesting funds for election observers, contrary to claims used to justify the withdrawal.
According to him, the transaction was supported by documents, including a letter conveying purported presidential approval by former President Muhammadu Buhari. He identified key exhibits already admitted in evidence, including a request for the release of funds (Exhibit PD6) and the alleged approval dated January 24, 2023 (Exhibit PD7).
The witness added that the request was processed and the money disbursed, noting that he personally recovered several exhibits from the CBN Abuja branch where the funds were withdrawn. These included records showing the disbursement of the money in $100 denominations on February 8, 2023, and a memo from the Director of Banking Services approving the payment.
Justice Muazu subsequently adjourned the case until July 2 for continuation of hearing.
Earlier, the court had issued a subpoena dated April 27, 2026, summoning both Okpoziakpo and Obaze to testify. The court directed them to provide evidence related to the charges and tender relevant materials, including publications linked to the naira redesign policy, as part of proceedings in the case.
