Reported by: Oahimire Omone Precious | Edited by: L.Imafidon
A prosecution witness in the ongoing trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele has told a Federal Capital Territory High Court that former President Muhammadu Buhari and former Secretary to the Government of the Federation (SGF), Boss Mustapha, should also have been prosecuted over the alleged fraudulent withdrawal of $6.23 million from the apex bank.
The statement was made on Friday, 3 July 2026, during proceedings before Justice Hamza Muazu at the Federal Capital Territory High Court in Abuja. The witness, Jim Obazee, who was appointed by President Bola Tinubu in July 2023 as a special investigator to probe the activities of the CBN and related entities, testified on behalf of the Economic and Financial Crimes Commission (EFCC).
The EFCC is prosecuting Emefiele on an amended 20-count charge bordering on alleged conferring of corrupt advantage, conspiracy, criminal breach of trust, forgery and obtaining by false pretence. Emefiele has pleaded not guilty to the charges.
Led in evidence by EFCC counsel Rotimi Oyedepo (SAN), Obazee alleged that the $6.23 million was withdrawn from the CBN's Abuja branch under the guise of funding a foreign election observer mission during Nigeria's 2023 general elections.
According to the witness, the money was allegedly handed over to individuals he described as suspected criminals. He further testified that investigators recovered $856,500 from Bashirudeen Maishanu, a staff member of the CBN, during the course of the investigation.
Obazee told the court that Maishanu should also face prosecution alongside Emefiele, arguing that several individuals allegedly connected to the transaction had not been charged despite their purported roles in the matter.
The witness further asserted that Buhari and Mustapha should have been prosecuted for what he described as their alleged actions or inactions in relation to the withdrawal. He argued that the decision to prosecute only Emefiele did not reflect the number of individuals allegedly involved in the transaction.
However, the allegations remain contested. During his earlier appearance before the court in February 2024, former SGF Boss Mustapha denied authorising or facilitating the release of the funds and maintained that the late former President Muhammadu Buhari did not approve the withdrawal.
No criminal charges have been filed against Buhari or Mustapha in connection with the alleged withdrawal, and neither has been convicted by any court over the matter. Buhari died in 2025, while Mustapha has consistently denied wrongdoing.
The trial of Emefiele has drawn significant public attention since it began, with the former CBN governor facing multiple corruption-related cases instituted by the EFCC following his removal from office in 2023.
Following Friday's proceedings, Justice Muazu adjourned the matter until 20 October 2026 for the adoption of final written addresses. Defence counsel informed the court that it intends to file a no-case submission, arguing that the prosecution has not established sufficient evidence requiring Emefiele to enter a defence.
The court is expected to determine whether the evidence presented by the prosecution is sufficient for the trial to proceed before any final judgment is delivered. Until then, all allegations against the defendants and other individuals mentioned during the proceedings remain subject to judicial determination.
Add comment
Comments