In the ongoing trial of Mr Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), a prosecution witness on Thursday told an FCT High Court that he alone was responsible for a $2.5 million portion of $6.23 million illegally withdrawn from the apex bank.
The witness’s testimony was delivered before Justice Hamza Muazu at the Federal Capital Territory High Court in Maitama.
Emefiele, who headed the CBN from 2014 to 2023, is facing a 20-count charge including allegations of criminal breach of trust, forgery, abuse of office, conspiracy and obtaining money by false pretence.
The Economic and Financial Crimes Commission (EFCC) is prosecuting the case on behalf of the Federal Government. The charges include allegations that Emefiele unlawfully obtained $6,230,000 under the false pretext that the funds were meant for international election observers who participated in the 2023 general elections.
The witness, Bashirudeen Maishanu, a Deputy Director in the CBN’s Banking Supervision Department, identified himself as “PW-11” and admitted to involvement in the withdrawal at issue. During cross-examination by counsel for Emefiele, Mr Matthew Burkaa, SAN, Maishanu said that the disappearance of the money “rests on me” and that he had accepted personal responsibility when confronted with documents during an investigation by a presidential-appointed special investigator.
Key details and developments
Maishanu told the court that he was inadvertently involved in the withdrawal and only realised the withdrawal was fraudulent after being shown documents by the investigator that indicated signatures of former President Muhammadu Buhari and former Secretary to the Government of the Federation, Boss Mustapha, were forged.
He said he neither met Emefiele nor received any instructions directly from him in relation to the transaction, asserting that all directions came from Emefiele’s personal assistant, Eric Ocheme, who is currently unavailable.
The witness also stated that part of the $2.5 million was given to him and others during the withdrawal and that he found the amount “outrageous”.
He said he did not report the receipt of funds to the CBN, though he has since been suspended by the bank. Maishanu added that he had refunded a large portion of the $2.5 million to the federal government through the special investigator, saying he had returned “more than what I took.”
Earlier in his testimony, Maishanu described how in early 2023 he was approached by a man called Ahmed, sent by Ocheme, regarding a transaction purportedly approved by the President.
Ahmed later informed the witness that Emefiele’s approval had been obtained, and on February 8, 2023, he said Ahmed and a friend withdrew the $6.23 million in cash at the CBN’s Garki, Abuja branch.
He testified that $2.5 million of the amount was distributed among them, of which he has since made restitution.
The witness told the court: “The disappearance of the $6.23 million rests on me. When I met Obaze and he showed me documents, I told him I would accept personal responsibility for a number of reasons. First, I was inadvertently involved. Second, Mr Eric (Emefiele’s PA) is nowhere to be found. I did not know it was a fraud.”
The testimony underscores tensions in the high-profile corruption trial of a former top public official and the legal scrutiny of apex bank operations under his tenure.
The allegation that funds meant for election observers were diverted and the involvement of senior bank officials amplify national concerns about accountability and governance in key public institutions. The court adjourned further proceedings in the matter to Friday, January 30, 2026.
A key prosecution witness in the trial of former CBN Governor Godwin Emefiele has taken personal responsibility for part of the $6.23 million withdrawn from the apex bank, asserting that his involvement was inadvertent and not directed by Emefiele.
The witness’s account and restitution of funds mark a critical moment in the ongoing proceedings as the court continues to hear the case.
