JamzNG Latest News, Gist, Entertainment in Nigeria
By Victor Osula, Abuja
A day after an Economic and Financial Crimes Commission (EFCC) witness told the Abuja High Court that investigators had found no evidence that former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, had personally benefited from the disputed $6.2 million allegedly looted from the apex bank, another prosecution witness on Friday said late former President Muhammadu Buhari and former Secretary to the Government of the Federation (SGF), Boss Mustapha, should have been prosecuted for settlement.
Police Commissioner Okpoziakpo Eloho, the 14th prosecution witness, testified during cross-examination on Thursday that none of those interviewed during the investigation linked Emefiele to any personal benefit from the disputed funds, although investigators determined that due process was violated in the handling and release of the money.
During proceedings on Friday, Jim Obaze, the special investigator appointed by President Bola Tinubu to probe the activities of the CBN, told Justice Hamza Muazu of the Federal Capital Territory (FCT) High Court, Maitama, that responsibility for the alleged illegal withdrawal extended beyond the former CBN governor.
Emefiele is on trial on 20 charges filed by the Economic and Financial Crimes Commission (EFCC) bordering on conspiracy, abuse of office and fraud in relation to the alleged illegal withdrawal of $6.2 million from the Apex bank. The former CBN governor has pleaded not guilty to all charges.
Led in evidence by EFCC lawyer, Rotimi Oyedepo, SAN, Obaze insisted that Buhari should be prosecuted alongside Emefiele over the transaction.
“For actions and inactions, Buhari should be charged alongside Emefiele for this $6.2 million fraud, even if posthumously, since national honors are awarded posthumously,” Obaze told the court.
The witness also accused former SGF boss Mustapha of having questions to answer about documents purportedly from his office that initiated the request for the release of the funds.
“As far as Chief Mustapha is concerned, as far as I am concerned, he denied to me that he signed the documents from his office that initiated the request of $6.2 million and led to the release of the amount to a person who claimed to be a staff member of his office,” he said.
Obaze argued that those who should be prosecuted included Buhari, Mustapha, Bashirudeen Maishanu and former CBN board members under Emefiele.
“Whatever you are doing to Emefiele by way of prosecution should have been done to Buhari, Mustapha, Maishanu and former CBN board members under Emefiele.
“I just hope that all of them are lined up in this dock with Emefiele, and that must include Maishanu, who paid me back $856,500,” he added.
While examining documents relating to the disputed withdrawal, Obaze rejected denials from both the Presidency and Mustapha regarding their alleged involvement in the transaction.
He also criticized the Abuja branch manager of the CBN, alleging that the funds were released without the necessary due diligence required for such a transaction.
The witness urged the court to order the arrest and prosecution of Jibril Abubakar, who allegedly collected the money by claiming to be acting under the authority of the Office of the SGF, and Bashirudeen Maishanu, a serving CBN employee who allegedly confessed to participating in the theft and repaid $856,500 to the Special Investigation Committee.
According to him, the recovered money was returned to the CBN.
Obaze further testified that under the provisions of the CBN Act, the naira equivalent of $6.2 million (about 2.8 billion naira) would have to be deposited before the foreign currency could be legally released.
During cross-examination by Emefiele’s lawyer, Matthew Burkaa, SAN, the witness admitted that investigators neither recovered any money from the former CBN governor nor found evidence that any part of the disputed funds had been transferred to his personal account.
However, he argued that Emefiele should have been aware of the transaction if internal control mechanisms, including the closed circuit television (CCTV) system and the Bank Verification Number (BVN) platform at the CBN’s Abuja branch, were actually used before the money was released.
According to Obaze, the disappearance of the funds should have also been detected during the CBN’s annual financial reporting process if officials responsible for oversight had exercised due diligence.
The Special Investigator also told the court that President Bola Tinubu invited him on December 19, 2023, and in the presence of the Attorney General of the Federation and the Chairman of the EFCC, directed him to prepare charges against Emefiele over the alleged $6.2 million fraud.
However, during cross-examination, Burkaa pointed out that the charge against Emefiele had already been filed on August 14, 2023, several months before the date Obaze claimed to have received the presidential directive.
Responding, Obaze said he was not a lawyer and therefore could not explain the apparent discrepancy in the timeline.
After hearing the witness, Judge Muazu adjourned the case until October 20 for the continuation of the trial.
