By Peace Udugba
The trial of former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, continued on Thursday before Justice H. Muazu of the Federal Capital Territory High Court, Abuja, with a prosecution witness alleging that the release of $6.23 million for a purported foreign election observer mission was “pure theft.”
The 14th prosecution witness, Okpoziakpo Eloho, a Commissioner of Police attached to the Fraud Unit at the Force Headquarters, Abuja, made the assertion while testifying in the case instituted by the Economic and Financial Crimes Commission (EFCC).
Led in evidence by the EFCC’s Director of Public Prosecution, Rotimi Oyedepo (SAN), the witness told the court that the entire sum of $6,230,000 was released by the CBN on the instruction of Emefiele.
“The entire money was released. We saw the approval of the governor,” the witness said, adding that the stated purpose of the release was merely a cover for fraud.
“It was pure theft. It was stolen, otherwise obtained under false pretence,” he told the court.
Eloho identified Exhibit PD5 as a presidential directive relating to a foreign election observer mission but maintained that investigations revealed the transaction was fraudulent.
“Our finding with regards to PD5 is that it is all fraud,” he said.
The witness, however, disclosed that investigators recovered about $800,000 from the allegedly diverted funds.
During cross-examination by defence counsel, Matthew Burka (SAN), Eloho acknowledged that as CBN governor, Emefiele had authority over the bank’s funds. He also identified Exhibits PD1 to PD7 and revealed that the Special Investigator interviewed former Secretary to the Government of the Federation, Boss Mustapha.
According to the witness, although a letter in Exhibit PD3 purportedly originated from Mustapha, the former SGF denied that the signature contained in Exhibit PD6 belonged to him.
He further told the court that the individual who collected the $6.23 million was one Jibril Abubakar, adding that although investigators obtained an identification card presented as belonging to Abubakar, investigations showed he was not a staff member of the Office of the Secretary to the Government of the Federation.
“The staff ID card number does not belong to him. He is not a staff of the SGF. That is what the investigation revealed,” the witness said.
Responding to questions on whether due process was followed in the release of the funds, Eloho said it was not.
“This document is from the governor to the Director of Banking Services.
Protocol was not followed. I presume that the procedure would have been for the document to pass through the deputy governor,” he stated.
Justice Muazu subsequently adjourned the matter until Friday, July 3, 2026, for the continuation of trial.
