Emefiele Trial: Witness Tells Court $6.23m CBN Election Observer Fund Was ‘Pure Theft’

Emefiele Trial: Witness Tells Court $6.23m CBN Election Observer Fund Was ‘Pure Theft’

The trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, took a dramatic turn on Thursday as a prosecution witness told the Federal Capital Territory (FCT) High Court in Abuja that the controversial release of $6.23 million for a purported foreign election observer mission was fraudulent and amounted to “pure theft.”

The allegation was made by the 14th prosecution witness, Commissioner of Police Okpoziakpo Eloho of the Nigeria Police Force Fraud Unit, during proceedings before Justice Hamza Muazu in the ongoing case filed by the Economic and Financial Crimes Commission (EFCC) against the former CBN governor.

According to the EFCC, the witness testified that the entire $6.23 million was released based on Emefiele’s approval without sufficient documentation to justify the expenditure.

“The entire money was released. We saw the approval of the governor,” Eloho told the court.

He further alleged that investigators found no legitimate basis for the transaction.

“It was pure theft. It was stolen, otherwise obtained under false pretence,” the police commissioner testified.

While identifying Exhibit PD5, which purportedly contained a presidential directive authorising a foreign election observer mission, the witness insisted that investigators concluded the document was fraudulent.

“Our finding with regards to PD5 is that it is all fraud,” he said.

The prosecution witness also disclosed that investigators recovered part of the allegedly diverted funds.

Although he could not recall the exact amount, Eloho said approximately $800,000 had been recovered during the course of the investigation.

READ ALSO:

• Documents Expose How Disputed Presidential Council Secured Approval to Recruit 300 Staff
• Tinubu Lightens Mood, Calls First Lady ‘Iya Alakara’ After Viral Akara Debate
• Trump Weighs Entry Restrictions for Pregnant Foreign Visitors After Supreme Court Ruling

“I can’t remember the figure but it was about Eight Hundred Thousand United States Dollars,” he told the court.

During cross-examination by defence counsel, Matthew Burkaa (SAN), the witness acknowledged that Emefiele, as the CBN governor at the time, had authority over the bank’s funds.

However, he maintained that the disbursement did not comply with the Central Bank’s established approval procedures.

According to Eloho, the approval moved directly from the governor to the Director of Banking Services without following the normal administrative chain through a deputy governor.

“This document is from the governor to the Director Banking Services. Protocol was not followed. I presume that the procedure would have been for the document to follow through the deputy governor,” he testified.

The witness also identified Jibril Abubakar as the individual who allegedly received the $6.23 million.

Presenting Exhibit PD4, Eloho told the court that although Abubakar presented a staff identity card linked to the Office of the Secretary to the Government of the Federation (OSGF), investigators established that the identification number did not belong to him.

“The staff ID card number does not belong to him. He is not a staff of the SGF. That is what the investigation revealed,” the witness said.

Eloho further informed the court that investigators interviewed former Secretary to the Government of the Federation (SGF), Boss Mustapha, during the investigation.

According to him, although one of the documents tendered by the prosecution purportedly originated from the SGF’s office, Mustapha denied that the signature appearing on the document belonged to him.

The EFCC alleges that the $6.23 million was released in February 2023 for the payment of foreign election observers ahead of Nigeria’s 2023 general election based on forged presidential approval.

The anti-graft agency is prosecuting Emefiele on charges bordering on criminal breach of trust, forgery, conspiracy, and obtaining by false pretence, arguing that the election observer mission never existed and that the documents used to obtain the funds were fabricated.

Emefiele has pleaded not guilty to all the charges and continues to deny any wrongdoing.

The former CBN governor is also facing separate criminal cases before the Federal High Court and the FCT High Court involving allegations of procurement fraud, abuse of office, unlawful possession of firearms and corruption. He has equally denied those allegations.

Following Thursday’s proceedings, Justice Hamza Muazu adjourned the matter until Friday, July 3, 2026, for the continuation of the trial.

The case remains one of Nigeria’s most closely watched corruption trials, with the prosecution seeking to establish that the controversial $6.23 million CBN disbursement was fraudulently authorised, while the defence maintains that Emefiele acted within the powers vested in him as governor of the apex bank.

Emefiele Trial: Witness Tells Court $6.23m CBN Election Observer Fund Was ‘Pure Theft’