A former employee of Zenith Bank has told the Federal Capital Territory (FCT) High Court in Abuja that he processed cash deposits worth billions of naira on behalf of former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, acting on instructions allegedly relayed through the ex-CBN chief’s personal assistant.
The witness, Richard Agulu, gave the testimony on Tuesday while appearing as the third prosecution witness in the Economic and Financial Crimes Commission’s (EFCC) trial of Emefiele over an alleged N7.8 billion fraud before Justice Yusuf Halilu.
Under cross-examination by Emefiele’s counsel, Mathew Burkaa (SAN), Agulu said his duties at Zenith Bank included receiving large cash sums from Eric Ocheme, whom he identified as the former CBN governor’s personal assistant.
According to him, the funds were either paid into the accounts of Ifeabigo Integrated Services and Kelvito Integrated Services or kept in the bank’s vault, depending on the instructions received.
Agulu told the court that he acted strictly on directives communicated by Ocheme over the telephone, adding that the instructions originated from Emefiele.
He maintained that despite the unusual nature of the transactions, all deposits were processed in accordance with the bank’s standard operating procedures.
“For every transaction, I followed normal banking procedures. I was given a verbal waiver by my superiors to attend to the defendant’s transactions,” the witness told the court.
However, when asked to identify the bank officials who allegedly granted him the verbal approval, Agulu declined to disclose their identities.
He insisted that he merely carried out the responsibilities assigned to him and that the transactions were undertaken with the authorisation of his superiors.
Following the testimony, Justice Halilu adjourned further hearing to allow the prosecution to continue presenting its case.
The EFCC is prosecuting Emefiele on an amended 20-count charge bordering on conspiracy, criminal breach of trust, forgery, unlawful possession of property and conferring corrupt advantage.
The anti-graft agency alleges that the offences involved about N7.8 billion and claims that large sums of cash were lodged in accounts operated by Kelvito Integrated Services and Ifeabigo Integrated Services, companies investigators allege were used in transactions linked to the former CBN governor.
Agulu’s testimony forms part of the prosecution’s effort to establish how the funds were allegedly received, processed and stored.
Emefiele, who was suspended as CBN governor in June 2023, has pleaded not guilty to all the charges and continues to deny any wrongdoing.
In addition to the Abuja case, the former apex bank chief is facing separate criminal proceedings in Lagos over allegations of abuse of office, unlawful gratification and foreign exchange-related transactions involving billions of naira and millions of dollars.