Fresh details have surfaced in the ongoing trial of former Central Bank Governor, Godwin Emefiele, as a prosecution witness told the court that suspects linked to the case admitted involvement in a $6.23 million fraud tied to the Central Bank of Nigeria (CBN).
The trial is being heard before Justice Hamza Muazu at the Federal Capital Territory High Court, Maitama, Abuja.
Emefiele is facing a 20-count amended charge bordering on alleged abuse of office, criminal breach of trust, forgery, conspiracy, and obtaining money under false pretence. He has, however, pleaded not guilty to all charges.
Testifying as the 14th prosecution witness, Eloho Okpoziakpo, a Commissioner of Police attached to the Special Fraud Unit in Lagos, revealed that investigations uncovered the fraudulent withdrawal of $6.23 million from the apex bank.
According to him, the funds were initially claimed to be meant for international election observers during the 2023 general elections, but findings later contradicted the explanation.
Investigation revealed that the money was fraudulently taken because some of the suspects… confessed,” the witness told the court.
Okpoziakpo disclosed that he was part of a special investigative team led by Jim Obaze, who was appointed by President Bola Tinubu to probe activities within the CBN and other government agencies.
The witness further told the court that the Office of the Secretary to the Government of the Federation denied making any request for funds for election observers—raising major concerns during the investigation.
He explained that the investigative team formally wrote to the office, which responded by disowning any such request.
Okpoziakpo identified key documents already tendered in court, including:
- A request for the release of funds allegedly directed to Emefiele
- A purported presidential approval dated January 24, 2023, under former President Muhammadu Buhari
- Internal approvals authorizing disbursement
He stated that the funds were eventually processed and paid out in cash, with records showing disbursement in $100 denominations on February 8, 2023, from the Abuja branch of the CBN.
The Economic and Financial Crimes Commission (EFCC) had earlier accused Emefiele of conferring corrupt advantages on two firms—April 1616 Nigeria Ltd and Architekon Nigeria Ltd—in connection with the transaction.
Both Okpoziakpo and Obaze were summoned to testify following their roles in the investigation. The court had issued subpoenas compelling them to appear and present evidence, including materials linked to the controversial naira redesign policy introduced during Emefiele’s tenure.
After hearing the testimony, Justice Muazu adjourned the case until July 2, 2026, for continuation of hearing.
The trial remains one of Nigeria’s most closely watched corruption cases, with ongoing revelations shedding light on financial dealings at the apex bank in the lead-up to the 2023 general elections.
