Emefiele’s trial: I take responsibility for $2.5m illegal withdrawal from CBN — Witness

By Ikechukwu Nnochiri

The ongoing trial of former Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, took a dramatic twist on Thursday when a witness called to testify against him claimed responsibility for the $2.5 million fraudulently withdrawn from the apex bank.

Emefiele, who held sway as governor of the apex bank from 2014 to 2023, is answering to a 20-count charge bordering on his alleged complicity in procurement fraud totalling about N1.2billion.

Moreover, the Economic and Financial Crimes Commission (EFCC) alleged that the defendant knowingly obtained $6,230,000 by false pretences, claiming it was intended for international election observers who participated in the 2023 general elections.

At the resumed proceedings on Thursday, the anti-graft agency produced its 11th witness in the matter, Mr. Bashirudeen Maishanu, who identified himself as a Deputy Director with CBN’s Banking Supervision Department.

While being cross-examined by the defence counsel, Mr. Matthew Burkaa, SAN, the witness admitted that the $2.5m was pulled out from a total sum of $6.230m for which Emefiele is facing trial before the court.

The PW-11 told the court that he had earlier made the same confession before a special investigator, Mr Jim Obaze, whom President Bola Tinubu appointed to probe the activities of the CBN under the defendant.

The witness said he decided to take responsibility because he had inadvertently become involved in the withdrawal of $6.230m.

According to him, he was not aware that the withdrawal was fraudulent until he was confronted with documents by the presidential investigator, Obaze.

From the documents, the witness said he realised that both signatures of former President Muhammadu Buhari and that of the then Secretary to the Government of the Federation (SGF), Boss Mustapha, were forged.

“The disappearance of the $6.23 million rests on me. When I met Obaze, and he showed me the documents, I told him I would accept personal responsibility for several reasons.

“First, I was inadvertently involved. Second, Mr Eric Ocheme (Emefiele’s PA) is nowhere to be found. I have tried several times to reach him, including through friends very close to him. I did not know it was a fraud,” the witness added.

Besides, he confirmed to the court that he neither met Emefiele nor gave him any money in relation to the entire transaction.

“I did not even receive any instructions from him. All the instructions I received were from Eric Ocheme,” the PW-11 stated, adding that he equally did not see Emefiele’s approval for the withdrawal until he met with the special investigator.

The EFCC witness said he participated in the withdrawal because he believed the transaction was genuine, stressing that the CBN has rigorous payment processes.

Even though the witness said he became suspicious when he his friend, and other person who was involved in the deal, were given $2.5 million from the funds, he told the court that he never officially reported the “gift” to the apex bank.

The witness told the court that although he was not charged with the illicit deal, he was, however, suspended by the CBN.

Maishanu further told the court that he had refunded a large portion of his share of the $2.5m to the federal government.

“I have given more than what I took because of my acceptance of responsibility for the withdrawal,” he added.

Meantime, earlier in the proceedings, the witness, who was led in evidence by EFCC’s lawyer, Mr Rotimi Oyedepo, SAN, told the court that sometime in January 2023, Emefiele’s PA, Ocheme, sent one Ahmed to meet him over a transaction being processed at the CBN on the authority of the President.

“About a week later, he (Ahmed) met me again and told me they had obtained the President’s approval, which I demanded to see. He showed me the document and said they would now proceed to the CBN to obtain the defendant’s (Emefiele’s) approval.

“He said they wanted a cash payment and that I should either go with them or recommend someone to accompany them. I told him I could not go and suggested someone I knew, and he agreed. He then said that once the governor’s approval was obtained, my friend and he could proceed to collect the cash.”

The PW11 told the court that he later learned from Ahmed that Emefiele’s approval had been obtained.

He told the court that on February 8, 2023, Ahmed and his (the witness’) friend went to the Garki, Abuja branch of the CBN to withdraw the $6.23 m.

He further testified that Ahmed later gave him, his friend, and another person $2.5m from the money to share among themselves, adding that he described the amount as outrageous.

“It was outrageous because we never negotiated any payment. I thought it was a set-up.”

The witness told the court that out of the $2.5m that was given to them, they deposited $1.9m with a developer, saying he then, instructed the others not to touch the money.

Justice Hamza Muazu adjourned further hearing on the matter till Friday.

The EFCC, in the amended charge before the court marked FCT/HC/CR/577/2023, also alleged that the former CBN governor illegally awarded contracts for the purchase of 43 vehicles between 2018 and 2020, worth N1.2bn.

He was also accused of giving a corrupt advantage to one Mrs Sa’adatu Ramallan Yaro, a staff member of the CBN, by awarding her private company, April 1616 Investment Ltd, a contract for the procurement of 37 Toyota Hilux Vehicles valued at N854 million.

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