In a dramatic development in the corruption trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, a prosecution witness has told the Federal Capital Territory High Court in Abuja that he personally took responsibility for a portion of the $6.23 million allegedly wrongfully withdrawn from the apex bank.
Emefiele, who served as CBN governor from 2014 to 2023, is facing a 20-count charge brought by the Economic and Financial Crimes Commission (EFCC), including allegations of procurement fraud totaling about N1.2 billion and obtaining $6.23 million by false pretences in connection with the 2023 general elections.
At Thursday’s hearing, the EFCC presented its 11th witness, Bashirudeen Maishanu, a Deputy Director in the CBN’s Banking Supervision Department, who admitted involvement in the withdrawal and accepted responsibility for the $2.5 million portion of the total cash withdrawn.
Under cross-examination by defence counsel, Mr. Matthew Burkaa, SAN, Maishanu said he became aware of the transaction only after his involvement and only realised it was improper when confronted with documents by Mr. Jim Obaze, a presidential investigator appointed by President Bola Tinubu to probe CBN activities under Emefiele.
Maishanu told the court he did not know the withdrawal was fraudulent at the time and that he did not receive any instructions directly from Emefiele. All directives related to the transaction, he said, came from Eric Ocheme, Emefiele’s then-personal assistant.
The witness admitted that he and two others were given the $2.5 million after the withdrawal — a sum he described as “outrageous” and unexpected — and that he had since refunded a large portion of his share to the federal government.
Maishanu also confirmed he was suspended from the CBN over the matter, though he was not formally charged in connection with the withdrawal itself.
The prosecution alleges that the $6.23 million was meant for “international election observers” during the 2023 polls, but subsequent investigations revealed that approval documents, including forged signatures of former President Muhammadu Buhari and the then Secretary to the Government of the Federation, were used to justify the transaction.
During the proceedings, Maishanu explained that the withdrawal took place at the CBN’s Garki, Abuja branch, on February 8, 2023.
Justice Hamza Muazu adjourned the trial to Friday, January 30, 2026, for continuation of the case.
In addition to the cash withdrawal allegations, the EFCC has charged Emefiele over alleged improper awarding of contracts for the purchase of vehicles between 2018 and 2020, including N1.2 billion worth of procurements and alleged corrupt advantages given to a staff member’s company.