Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
A prosecution witness in the ongoing trial of former Central Bank of Nigeria Governor Godwin Emefiele has told a Federal Capital Territory High Court that $6.23 million was unlawfully withdrawn from the apex bank’s vault under the guise of funding foreign election observers for the 2023 general election. Chinedu Eneanya, an Assistant Commander II with the Economic and Financial Crimes Commission (EFCC) and the 13th prosecution witness in the case, testified that his investigative team uncovered documents showing that the signatures of former President Muhammadu Buhari and former Secretary to the Government of the Federation, Boss Mustapha, had been forged to facilitate the release of the funds. The trial, presided over by Justice Hamza Muazu of the FCT High Court in Maitama, Abuja, has become a centrepiece of the anti‑graft agency’s pursuit of high‑profile financial misconduct.
Emefiele is standing trial on an amended 20‑count charge bordering on criminal breach of trust, forgery, abuse of office, conspiracy to obtain by false pretence, and obtaining money by false pretence. The charges centre on the alleged fraudulent payout of $6.23 million from the CBN vault in 2023, which the EFCC has described as a “phoney” election observer exercise. Emefiele has pleaded not guilty to all counts. Led in evidence by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), Eneanya told the court that a special investigative team was assigned to probe the allegations, and that a forensic examination of the relevant documents confirmed that the signatures attributed to President Buhari and Mustapha were not genuine. “The investigation revealed that the money of $6.23 million was removed from the coffers of the CBN for purported funding of the foreign observer of the 2023 election,” Eneanya said under oath. He added that individuals connected to the movement of the funds were invited and interviewed, and that documents authorising the release were recovered from the CBN.
However, under cross‑examination by Emefiele’s counsel, Matthew Burkaa (SAN), the witness made a series of admissions that appeared to weaken aspects of the prosecution’s case. Eneanya conceded that no forensic examination was conducted on Emefiele’s own signature, despite the former governor’s claim that his signature had also been forged. He further disclosed that five CBN officials who signed the internal memo authorising the disbursement were not standing trial alongside Emefiele, but were merely suspended by the bank. When pressed on whether the investigation showed Emefiele personally received the funds, the witness said a lawyer, Ifeanyi Omeke, had claimed to have received money on behalf of the former CBN governor, but that Emefiele himself had not been questioned on that specific allegation.
The defence seized on these gaps to challenge the credibility of the witness. Burkaa accused the prosecution of engaging in delaying tactics and urged the court to foreclose the prosecution’s case if it fails to produce its remaining two witnesses at the next adjourned date. “If the witnesses do not come tomorrow, we will apply that they should be foreclosed,” Burkaa told the court. “This is an antic for the prosecution to put maximum hardship on the defendant.” He argued that justice must be balanced and that the repeated delays were causing undue hardship to the defendant.
In response, prosecuting counsel Rotimi Oyedepo opposed the application, stating that the prosecution was not attempting to stall proceedings but was facing practical challenges. He explained that the remaining witnesses were outside the court’s jurisdiction – one in Benin City and another in Lagos – and that subpoenas had not yet been issued. He urged the court not to shut the doors against the prosecution before it had been given a full opportunity to present its case.
The presiding judge, Justice Hamza Muazu, directed the prosecution to expedite the issuance of subpoenas through the court registrar and ensure that the witnesses are produced without further delay. He also advised both parties to reserve their detailed arguments on the application for their final written addresses as the trial progresses.
The testimony of the 13th prosecution witness largely aligns with earlier evidence presented by the EFCC. In January 2026, a former CBN official had confirmed to the court that the $6.23 million was withdrawn in cash in a single day, and that the funds were purportedly meant for an international election observer mission. The EFCC has consistently maintained that no such mission was ever accredited by the Independent National Electoral Commission (INEC), and that the funds were obtained through forgery and fraud.
Emefiele has repeatedly denied any wrongdoing. His legal team has maintained that the charges are politically motivated and that the former CBN governor is being persecuted by the commission. The EFCC, however, has insisted that the case is purely criminal and based on documented evidence.
The trial has been adjourned until Tuesday, April 28, 2026, for continuation. The prosecution is expected to present its remaining two witnesses, although uncertainty remains over their availability. The former CBN governor, who has been on trial for more than two years, is fighting to clear his name while the federal government presses its case that one of the country’s most powerful financial figures orchestrated a multi‑million dollar fraud using the highest offices in the land as cover.
The courtroom drama is being closely watched by legal observers and the Nigerian public, as the case touches on issues of governance, financial oversight, and the integrity of the electoral process. As the trial moves towards its conclusion, the central question remains: who authorised the withdrawal, and where did the money go? The answers may yet emerge as the EFCC continues to present its evidence in the weeks ahead.
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