The trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, continued on Thursday at the Federal Capital Territory High Court in Abuja, with an Economic and Financial Crimes Commission (EFCC) witness alleging that the release of $6.23 million for a foreign election observer mission was “pure theft.”
In a statement issued by the Economic and Financial Crimes Commission (EFCC).
The prosecution’s 14th witness, Commissioner of Police Okpoziakpo Eloho, told Justice H. Muazu that investigations showed the entire sum was released by the CBN on Emefiele’s instruction without sufficient details to justify the payment.
Led in evidence by EFCC Director of Public Prosecution, Rotimi Oyedepo (SAN), the witness said investigators reviewed the approval documents and concluded that the stated purpose of the funds was merely a cover for fraud.
According to him, “The entire money was released. We saw the approval of the governor.”
He further told the court that the funds were “pure theft” and were “stolen, otherwise obtained under false pretence.”
Eloho identified Exhibit PD5 as a presidential directive relating to a foreign election observer mission but maintained that investigators found the document was used to facilitate fraud rather than its stated purpose.
The witness also disclosed that investigators recovered about $800,000 from the allegedly diverted funds.
During cross-examination by defence counsel Matthew Burka (SAN), Eloho acknowledged that Emefiele, as CBN governor at the time, had authority over the bank’s funds.
He further revealed that former Secretary to the Government of the Federation, Boss Mustapha, was interviewed during the investigation. According to the witness, Mustapha denied that the signature on one of the documents presented in evidence belonged to him.
Eloho also told the court that the individual who collected the $6.23 million was identified as Jibril Abubakar. However, investigations allegedly found that the staff identity card used did not belong to him and that he was not an employee of the Office of the Secretary to the Government of the Federation.
Responding to questions on whether the release of the funds followed due process, the witness said it did not.
He stated that the approval document went directly from the CBN governor to the Director of Banking Services, adding that he believed the proper procedure should have required the document to pass through a deputy governor.
After proceedings, Justice Muazu adjourned the case until July 3, 2026, for the continuation of the trial.
