Police investigator tells Abuja High Court no cash transfer or financial trail links former CBN governor to disputed funds; questions emerge over prosecution of confessed suspects and alleged forged approvals.
By A1NEWS International – July 2, 2026
ABUJA, Nigeria — The prosecution of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, suffered a significant courtroom setback on Thursday after a key prosecution witness admitted before the Federal Capital Territory High Court that investigators found no evidence showing the former apex bank chief personally benefited from the controversial $6.23 million allegedly diverted from the Central Bank.
The revelation came during the continuation of Emefiele’s trial before Justice Hamza Muazu of the FCT High Court, Abuja, where the Economic and Financial Crimes Commission (EFCC) is prosecuting the former CBN governor on a 20-count amended charge bordering on criminal breach of trust, procurement fraud, abuse of office, conspiracy, forgery and obtaining money by false pretence.
The testimony of the EFCC’s witness, Commissioner of Police Okpoziakpo Eloho, emerged under intense cross-examination by senior advocate Matthew Burka (SAN), raising fresh questions about the evidential foundation of one of Nigeria’s most closely watched corruption trials.
No Financial Benefit Traced to Emefiele
While responding to questions from the defence, CP Eloho acknowledged that investigators did not uncover any evidence showing that Emefiele received any portion of the disputed $6.23 million, either through cash payments, bank transfers or any other financial benefit.
According to the witness, none of the individuals questioned during the investigation implicated the former CBN governor as a beneficiary of the funds.
The admission is expected to become a central plank of the defence as the trial progresses.
Emefiele Denied Authorising Release of Funds
The police commissioner also informed the court that Emefiele consistently denied authorising the release of the money during his interrogation.
He recalled that investigators interviewed the former CBN governor at the Kuje Correctional Centre on December 13, 2023, where he rejected allegations that he approved or signed documents authorising the controversial payment.
According to the witness, Emefiele equally denied receiving any communication from the then Secretary to the Government of the Federation (SGF), Boss Mustapha, requesting the release of funds purportedly meant for international election observers during the 2023 general elections.
The defendant also maintained that the signatures appearing on documents approving the release of the money were not his.
Witness Confirms Confessions by Alleged Money Collectors
Another major revelation during Thursday’s proceedings was the testimony concerning individuals allegedly involved in collecting and processing the disputed funds.
CP Eloho told the court that Jibril Abubakar appeared before investigators and admitted collecting the $6.23 million from the Abuja branch of the Central Bank.
However, investigations subsequently established that Abubakar was never an employee of the Office of the Secretary to the Government of the Federation, contrary to his claims.
The witness further disclosed that another CBN staff member, Bashirudeen Maishanu, also confessed during interrogation to participating in the alleged theft.
Despite these confessions, Eloho admitted he was unaware whether either Abubakar or Maishanu had been prosecuted.
He added that he would be surprised if Maishanu had since been promoted within the CBN despite allegedly admitting involvement in the disappearance of the funds.
Questions Over Internal Procedures
During cross-examination, defence counsel confronted the witness with several documentary exhibits detailing correspondence relating to the processing and approval of the disputed funds.
The witness acknowledged that established administrative procedures within the Central Bank appeared not to have been followed.
According to him, under normal CBN protocol, official correspondence originating from the Governor should ordinarily pass through the Deputy Governor before reaching subordinate departments.
He admitted that this hierarchy appeared to have been bypassed in the processing of the controversial payment.
Forgery Claims Raise Fresh Issues
The proceedings also revisited allegations surrounding forged official documents.
CP Eloho confirmed that former SGF Boss Mustapha had informed investigators that his signature on documents relating to the release of the funds had been forged.
He clarified that although the statement was formally recorded by Special Investigator Jim Obaze, he was present during the interview.
The witness further acknowledged that forensic examination was conducted on Boss Mustapha’s signature to determine its authenticity.
However, under questioning, he conceded that it would have been desirable for investigators to carry out a similar forensic examination on Emefiele’s disputed signatures.
That admission may further strengthen the defence’s argument regarding the authenticity of the approval documents.
Background to the Charges
The EFCC alleges that while serving as Governor of the Central Bank of Nigeria, Emefiele unlawfully authorised the release of $6.23 million purportedly earmarked for foreign election observers during Nigeria’s 2023 general elections.
The anti-graft agency also accused him of conferring corrupt advantages on April 1616 Nigeria Ltd and Architekon Nigeria Ltd through alleged procurement irregularities.
Emefiele has consistently pleaded not guilty to all counts, insisting he neither approved the release of the funds nor benefited from the transaction.
What the Testimony Means
Legal analysts observing the proceedings note that Thursday’s testimony introduced critical evidential issues that could influence the eventual outcome of the case.
The prosecution must still establish whether criminal liability can be sustained on allegations of abuse of office or conspiracy, notwithstanding the witness’s admission that investigators found no financial trail linking Emefiele to the alleged proceeds.
Similarly, questions regarding the prosecution—or apparent lack thereof—of individuals who allegedly confessed to collecting or stealing the money may become an important aspect of the defence’s strategy as proceedings continue.
Trial Adjourned
Following the conclusion of Thursday’s proceedings, Justice Hamza Muazu adjourned the matter until Friday for continuation of trial.
The case remains one of the most prominent corruption prosecutions arising from the post-tenure investigations into the administration of Nigeria’s apex bank.
Thursday’s proceedings marked a notable moment in the prosecution of former CBN Governor Godwin Emefiele, as the EFCC’s own witness acknowledged that investigators uncovered no evidence that the defendant personally benefited from the disputed $6.23 million. While the prosecution continues to pursue allegations of abuse of office and procurement fraud, the defence is expected to rely heavily on the witness’s admissions regarding the absence of a financial trail, disputed signatures, and unresolved questions surrounding the prosecution of individuals who allegedly confessed to collecting the funds.
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