Emefiele Trial: Witness Tells Court $6.23m Released for Foreign Election Observer Mission Was ‘Pure Theft’

BY SUNDAY SAMUEL—Proceedings in the trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, continued on Thursday before Justice Hamza Muazu of the Federal Capital Territory High Court, Abuja, with a prosecution witness alleging that the release of $6.23 million for a foreign election observer mission was a fraudulent transaction.

The witness, Okpoziakpo Eloho, a Commissioner of Police attached to the Force Headquarters’ Fraud Unit, testified as the 14th prosecution witness. Led in evidence by the Director of Public Prosecutions, Rotimi Oyedepo (SAN), he told the court that the funds were approved by Emefiele and fully disbursed.

According to Eloho, investigations carried out by his team showed that the stated purpose of the payment was merely a cover for fraud. He described the transaction as “pure theft” and alleged that the money was obtained under false pretences rather than being used for any legitimate election observer assignment.

The witness identified a presidential directive admitted as Exhibit PD5 and said investigators concluded that the document was used to facilitate the alleged fraud. He added that the investigative team recovered about $800,000 from the funds during the course of its investigation.

During cross-examination by defence counsel, Matthew Burka (SAN), Eloho acknowledged that, as CBN governor at the time, Emefiele had authority over the bank’s funds. He also confirmed that investigators reviewed several documentary exhibits tendered before the court.

He further testified that former Secretary to the Government of the Federation, Boss Mustapha, was interviewed during the investigation. According to the witness, Mustapha denied that a signature appearing on one of the documents presented as evidence belonged to him.

Eloho also claimed that the individual who collected the $6.23 million was identified as Jibril Abubakar. However, he told the court that investigations revealed the identity card used by the individual did not belong to a staff member of the Office of the Secretary to the Government of the Federation, contrary to what the document suggested.

Responding to questions on whether the funds were released in line with established procedures, the witness said due process was not followed. He explained that although the instruction originated from the CBN governor to the Director of Banking Services, the normal approval process should have passed through the deputy governor before execution.

Following the day’s proceedings, Justice Muazu adjourned the matter until July 3, 2026, for the continuation of trial.