$6.23m CBN Fraud Trial: Witness Says Suspects Admitted Role in Cash Withdrawal

The trial of former Central Bank of Nigeria Governor, Godwin Emefiele, took a fresh twist on Tuesday as a prosecution witness told a Federal Capital Territory High Court that some suspects allegedly confessed to their involvement in the controversial 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, conspiracy, abuse of office, forgery, and obtaining money under false pretences.

The Economic and Financial Crimes Commission (EFCC) alleges that the funds—reportedly earmarked for international election observers during the 2023 general elections—were fraudulently withdrawn under questionable approvals. The former CBN governor has, however, pleaded not guilty to all charges.

At the resumed hearing, the 14th prosecution witness, Eloho Edwin Okpoziakpo, a Commissioner of Police attached to the Special Fraud Unit in Lagos, told the court he was part of a joint investigative team deployed to support a special probe into the CBN and other government agencies.

He said the investigation was coordinated by Jim Obaze, who was appointed by President Bola Ahmed Tinubu.

Led in evidence by prosecuting counsel Rotimi Oyedepo (SAN), the witness told the court that intelligence reports showed the $6.23 million was withdrawn from the CBN Abuja branch with the approval of the defendant.

Okpoziakpo further stated that during interrogation, some suspects allegedly admitted their involvement in the transaction.

“Investigation revealed that the money was fraudulently taken because some of the suspects, including Maishanu, who we investigated, confessed,” he said.

The witness also told the court that the Office of the Secretary to the Government of the Federation denied ever requesting funds for election observers, contradicting claims tied to the disbursement.

“We wrote to the Office of the Secretary to the Government of the Federation and they responded,” he added.

He further testified that the withdrawal was supported by documents, including a letter allegedly conveying presidential approval attributed to former President Muhammadu Buhari.

According to him, Exhibit PD6 was a request for release of the funds addressed to Emefiele, while Exhibit PD7 contained the approval dated January 24, 2023.

Okpoziakpo told the court that the request was processed and the funds were subsequently disbursed.

He also said he personally recovered several documents marked Exhibits PD1 to PD5 from the CBN Abuja branch where the cash was withdrawn. He explained that Exhibit PD1 detailed the disbursement in $100 bills on February 8, 2023, while Exhibit PD2 was a memo from the Director of Banking Services approving the payment.

Following the testimony, Justice Muazu adjourned the matter to July 2 for continuation of hearing as the prosecution continues to present its case against the former apex bank chief.