Emefiele: Court Hears How $6.23m Was Allegedly Diverted as Election Observer Funds from CBN

An Economic and Financial Crimes Commission (EFCC) witness has told a Federal Capital Territory High Court in Abuja that $6.23 million was allegedly withdrawn from the Central Bank of Nigeria (CBN) under the pretence of funding foreign election observers during the 2023 general elections.

The witness, Chinedu Eneanya, an Assistant Commander of the EFCC, gave the testimony on Monday while appearing as the 13th prosecution witness in the ongoing trial involving former CBN Governor, Godwin Emefiele.

Eneanya told the court that investigations conducted by the commission showed the funds were taken from the apex bank’s vault as payment for what was described as international election monitoring activities, which he said were later found to be questionable.

According to him, documents authorising the withdrawal were recovered from the CBN during investigations, while several officials linked to the transaction were interrogated by the commission.

He said, “The investigation revealed that $6.23 million was removed from the coffers of the CBN for purported funding of foreign observers of the 2023 elections.”

The EFCC is prosecuting Emefiele on a 20-count amended charge bordering on criminal breach of trust, forgery, conspiracy, procurement fraud and obtaining by false pretence. The commission alleges that the funds were released for a “phony” election observation exercise. Emefiele has denied all charges.

Led in evidence by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo, the witness further told the court that signatures attributed to former President Muhammadu Buhari and the then Secretary to the Government of the Federation, Boss Mustapha, were allegedly forged to facilitate the release of the funds.

He said the conclusion was reached after a forensic review of documents used to process the payment.

However, under cross-examination by defence counsel Matthew Burkaa, the witness admitted that no forensic analysis was carried out on Emefiele’s signature.

He also confirmed that the five CBN officials who approved the internal memo for the transaction are not standing trial, noting that they had been suspended by the bank.

On claims regarding receipt of the funds, Eneanya told the court that a lawyer, Ifeanyi Omeke, allegedly said he collected the money on behalf of the former CBN governor, adding that Emefiele was not questioned on that specific claim.

After his testimony, the court discharged the witness.

The hearing took another turn when the prosecution was unable to present additional witnesses, despite earlier indications that they were ready to proceed.

Prosecutor Oyedepo informed the court that the remaining witnesses had not been subpoenaed and were located outside the jurisdiction of the court, in Benin and Lagos.

Defence counsel Matthew Burkaa urged the court to foreclose the prosecution’s case if the witnesses failed to appear, arguing that the delay was prejudicial to the defendant.

However, the prosecution opposed the application, insisting it was not an attempt to stall proceedings but a logistical challenge in securing witnesses.

Justice Hamza Muazu directed both parties to address the issue in their final written submissions and ordered the prosecution to liaise with the court registrar to issue the necessary subpoenas.

The matter was adjourned to Tuesday for continuation of trial.

Earlier proceedings in the case have featured similar allegations. A CBN official previously testified that the $6.23 million was withdrawn in cash within a single day in February 2023 and tagged as payment for foreign election observers.

In other testimonies, a former Secretary to the Government of the Federation told the court that signatures attributed to him and former President Muhammadu Buhari were forged in approving the transaction. A forensic expert also supported claims that the documents were falsified.

The trial continues as the court examines the circumstances surrounding the controversial disbursement.