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JUST IN: Former CBN Governor Emefiele did not benefit from $6.2 million fraud – EFCC witness tells court

The FrontierThe FrontierJuly 2, 2026 702 Minutes read0

•Godwin Emefiele

A prosecution witness for the Economic and Financial Crimes Commission (EFCC), CP Okpoziakpo Eloho, told an Abuja High Court today that former Central Bank of Nigeria (CBN) Governor Godwin Emefiele did not benefit from the alleged $6.2 million fraud.

Eloho, the 14th prosecution witness (PW14), made the disclosure during cross-examination by Emefiele’s counsel, Mr Mathew Burkaa, SAN, reports The Nation.

The EFCC has charged Emefiele with offences including criminal breach of trust, forgery, abuse of office, conspiracy to obtain money by false pretence, and obtaining money under false pretence during his tenure as CBN governor.

The anti-graft agency also accused him of granting undue advantages to two firms — April 1616 Nigeria Ltd and Architekon Nigeria Ltd. However, Emefiele has pleaded not guilty to all charges.

At the resumed hearing, Eloho, who led the investigation, told the court that Emefiele, in his statement, denied approving or authorising the release of the funds.

He added that the defendant also denied receiving or acting on any correspondence from the former Secretary to the Government of the Federation (SGF), Boss Mustapha.

Responding to questions, the witness confirmed that one Jibril Abubakar appeared before the investigative panel and admitted collecting the $6.2 million from the CBN’s Abuja branch. He further noted that none of the individuals questioned during the probe indicated that Emefiele benefited from the funds.

Eloho also disclosed that although Abubakar claimed to be a staff member in the Office of the SGF, investigations revealed that he was not employed there. He added that he was unaware whether Abubakar had been prosecuted despite his admission.

The witness further stated that a CBN staff member, Bashirudeen Maishanu, was also interrogated and allegedly confessed to involvement in the theft.

While being shown documentary exhibits, including correspondence related to the processing, approval, and disbursement of the funds, Eloho acknowledged that due process was not followed.

He explained that, based on the CBN’s administrative hierarchy, communications from the governor are expected to pass through the deputy governor before being transmitted to other officials.

“I recall that on Dec.13, 2023, we visited the Kuje Correctional Centre where the defendant made a statement regarding his role in the matter,” the witness said.

He also told the court that the former SGF, Boss Mustapha, denied having authored a document linked to the transaction, claiming that his signature was forged. According to Eloho, the statement was taken by special investigator Jim Obaze in his presence.

On forensic verification, the witness said it would have been appropriate to subject Emefiele’s signature to the same analysis conducted on Mustapha’s signature.

During re-examination, Burkaa objected when EFCC counsel, Mr Rotimi Oyedepo, SAN, sought to introduce exhibits unrelated to the $6.2 million case. He argued that Section 215(3) of the Evidence Act prohibits such action, noting that the witness was testifying strictly on the specific charge.

“The question is not relevant and cannot be allowed in re-examination,” Burkaa said.

In a brief ruling, Justice Hamza Muazu held that there was no ambiguity in the documents referenced by the witness, adding that the court would not permit the witness to extend investigations during proceedings.

The case was subsequently adjourned until tomorrow for continuation.

Tags
$6.2 million fraudCourtEFCC witnessFormer CBN Governor Emefiele
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