Reported by: Ijeoma G | Edited by: Oravbiere Osayomore Promise.
The third prosecution witness in the fraud trial of former Central Bank of Nigeria Governor Godwin Emefiele has told the Federal Capital Territory High Court in Abuja that he deposited billions of naira in cash for the ex-apex bank chief while working at Zenith Bank . Richard Agulu, a former staffer of Zenith Bank, made the disclosure on Tuesday, July 7, 2026, during cross-examination by Emefiele's counsel, Matthew Burkaa, SAN .
Agulu testified that the funds were brought to him by Emefiele's former personal assistant, Eric Ocheme, and he would either lodge the sums into accounts belonging to Ifeabigo Integrated Services and Kelvito Integrated Services, or deposit them in Zenith Bank's vault, all on Emefiele's instructions . He told the court that Emefiele would usually convey instructions through Ocheme's phone, and that he acted under the former CBN governor's directives to receive cash and disburse it accordingly .
The witness, who said he spent 17 years in the banking sector, disclosed that withdrawals made from the deposits into the two company accounts were authenticated by the real account owners and signatories . He added that he had verbal waivers from his superiors to handle the transactions, declining to mention names, saying, "I cannot mention names. I don't want to put somebody in trouble" . Agulu further revealed that he supervised the transfer of N1.6 billion to MG Properties Limited on Emefiele's instruction through Ocheme .
Justice Yusuf Halilu adjourned the matter until November 3, 4 and 5, 2026, for continuation of trial . Emefiele is being prosecuted by the Economic and Financial Crimes Commission on an eight-count charge bordering on criminal breach of trust, conspiracy, forgery, and unlawful possession of properties suspected to be proceeds of crime totalling ₦7,831,002,396 .
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