Reported by: Oahimire Omone Precious | Edited by: Oravbiere Osayomore Promise.
A Special Investigator appointed by President Bola Tinubu has stunned a Federal Capital Territory High Court with a dramatic declaration that the late former President Muhammadu Buhari and former Secretary to the Government of the Federation, Boss Mustapha, must be prosecuted alongside former Central Bank of Nigeria Governor Godwin Emefiele over the alleged fraudulent withdrawal of $6.2 million from the apex bank.
Jim Obaze, the Special Investigator who was testifying as the 15th prosecution witness in the ongoing trial of Emefiele, told Justice Hamza Muazu on Friday that the prosecution of only the former CBN governor was "a very unfortunate situation" given that more than ten individuals were allegedly involved in the transaction. "For actions and inactions, Buhari ought to be charged and must be charged along with Emefiele in this $6.2 million fraud, even if posthumously, since national honours are given posthumously," Obaze told the court, in remarks that have sent shockwaves through Nigeria's political and legal establishments.
The case centres on the alleged unlawful withdrawal of $6.23 million from the CBN's foreign exchange account, purportedly meant for international election observers during the 2023 general election. The money was allegedly handed over to individuals whom Obaze described as "suspected criminals." Emefiele, who is standing trial on a 20-count amended charge bordering on criminal breach of trust, forgery, abuse of office, and obtaining by false pretence, has pleaded not guilty to all charges.
Obaze's testimony revealed that a letter purportedly from the Presidency, said to have been signed by the late President Buhari, authorised the release of the funds, alongside another letter from the Office of the SGF ordering Emefiele to release the money to one Jibril Abubakar, who was introduced as a staff member of the SGF's office. However, in his extrajudicial statements and oral testimony before the court, Boss Mustapha had repeatedly denied knowledge of the transactions and alleged that all documents, including the one ascribed to Buhari, were forged by the looters aided by CBN staff.
Upon reviewing the documents, Obaze became furious, dismissing the denials of both the Presidency and the former SGF. He demanded in open court that Mustapha be brought into the dock alongside Emefiele. The Special Investigator also called for the prosecution of the Abuja branch manager of the CBN for releasing the funds without carrying out due diligence, as well as Bashirudeen Maishanu, a serving CBN employee who allegedly confessed to participating in the theft and refunded $856,500 to the special investigation panel. "Whatever you are doing to Emefiele by way of prosecution ought to have been done to Buhari, Mustapha, Maishanu, and former board members of the CBN under Emefiele," Obaze said.
The testimony comes despite Mustapha's earlier appearance as a prosecution witness in February 2024, during which he denied that Buhari authorised the release of the funds. The EFCC is prosecuting Emefiele over allegations that he abused his office and fraudulently authorised the withdrawal of the $6.23 million. At the close of Friday's proceedings, Justice Muazu adjourned the matter until October 20, 2026, for the adoption of final written addresses. Counsel to the defence also informed the court that a no-case submission would be filed on behalf of Emefiele, asking the court to dismiss the charges on the grounds that the prosecution had failed to establish a prima facie case against the former CBN governor.
The case has now taken on a new dimension, with the Special Investigator's testimony raising fundamental questions about the scope of the alleged fraud and the responsibility of the highest office in the land. For the first time, a court has heard that the late former President and the former Secretary to the Government of the Federation should have been prosecuted alongside the former CBN governor. Whether the court will act on Obaze's demand remains to be seen, but his testimony has already achieved what few have managed: it has placed the conduct of the Buhari administration under the judicial microscope.
📩 Stone Reporters News | 🌍 stonereportersnews.com
✉️ info@stonereportersnews.com | 📘 Facebook: Stone Reporters News | 🐦 X (Twitter): @StoneReportNew | 📸 Instagram: @stonereportersnews
Add comment
Comments