An investigator with the Economic and Financial Crimes Commission (EFCC) has told a Lagos court that former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, allegedly used associates and proxies to acquire multi-billion-naira properties while in office.
The investigator, Alvan Gurumnaan, disclosed this on Thursday while testifying before the Special Offences Court sitting in Ikeja, Lagos, during Emefiele’s ongoing corruption trial.
Gurumnaan, the seventh prosecution witness, alleged that the former CBN governor acquired several properties whose combined value exceeded what he could legitimately have earned during his time in office.
He also told the court that some of the assets linked to Emefiele, valued at about N100 billion, had been forfeited to the Federal Government through court orders.
EFCC identifies properties allegedly linked to Emefiele
The witness identified several properties allegedly acquired through associates, including twin duplexes in Lekki Phase 1 and two mansions on Queens Drive, Ikoyi, Lagos.
He also mentioned a lawyer, Ifeanyi Omeke, who allegedly acted as a front for Emefiele.
According to Gurumnaan, investigators recovered more than $2 million in cash from Omeke’s office during the investigation.
The lawyer, who reportedly served as secretary to several companies, allegedly admitted receiving money on behalf of the former CBN governor.
The investigator further alleged that Emefiele used his position to facilitate access to foreign exchange for selected individuals and companies.
He cited an instance involving a company that allegedly paid about $17 million through Emefiele’s staff member, Monday Osazuwa.
Gurumnaan told the court that Osazuwa admitted receiving the money from the company and handing it to Emefiele’s co-defendant, Henry Omoile, who subsequently delivered it to the former CBN governor.
He also alleged that the managing director of Source Computer was compelled to make payments before the company could receive its contract fees.
Factory, Ikoyi property also mentioned
Continuing his testimony, Gurumnaan said investigations uncovered a factory under construction in Agbor, Delta State, Emefiele’s hometown.
He told the court that the property had been forfeited to the Federal Government.
The investigator also identified a block of eight flats on Adekunle Lawal Street, Ikoyi, Lagos, which he alleged previously belonged to the Nigerian Printing and Minting Company.
According to the witness, Emefiele, who served as chairman of the company’s board, acquired the property and subsequently sold it to himself.
The property was also reportedly forfeited to the Federal Government.
Gurumnaan further disclosed that investigators recovered another warehouse allegedly belonging to Emefiele in Ogun State, on the outskirts of Lagos.
Defence challenges EFCC witness’ testimony
During proceedings, Emefiele’s counsel, Ojo Olalekan, and counsel to his co-defendant, Kazeem Gbadamosi, challenged the relevance of the investigator’s testimony to the charges before the court.
They argued that the evidence concerning the properties was not relevant to the specific offences for which their clients were being prosecuted.
However, prosecution counsel, Rotimi Oyedepo, maintained that the testimony was relevant to the allegation that Emefiele used proceeds of gratification to acquire assets beyond his legitimate sources of income.
In his ruling, Justice Rahman Oshodi overruled the defence objection, holding that the defendants would have the opportunity to cross-examine the witness.
The judge subsequently allowed Gurumnaan to continue his testimony.
Emefiele is facing a 19-count charge filed by the EFCC bordering on alleged receipt of gratification and corrupt demands during his tenure as CBN governor.
His co-defendant, Henry Omoile, is facing a separate three-count charge bordering on alleged unlawful acceptance of gifts as an agent.
Both defendants have pleaded not guilty to the charges.
The court adjourned the case until Friday, November 13, 2026, for continuation of proceedings.
