Witness says neither Finance Minister nor Accountant-General queried the withdrawal; EFCC unable to show him documents linking ex-CBN governor to transaction
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| A1 News Internationa |
ABUJA, October 7, 2026
A Director in the Home Finance Department of the Federal Ministry of Finance, Dr Ali Mohammed, has told the Federal Capital Territory High Court in Maitama that former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, was not a signatory to the Federal Government’s Consolidated Revenue Account from which N124.86 billion was withdrawn.
Mohammed, who appeared as a prosecution witness in Emefiele’s ongoing trial, also told the court that neither the Minister of Finance nor the Accountant-General of the Federation queried the withdrawal at the time.
The testimony came during cross-examination by Emefiele’s counsel, Olalekan Ojo, SAN, in the case instituted by the Economic and Financial Crimes Commission (EFCC) over alleged disobedience to lawful directives and acts allegedly causing injury to the public.
Witness Says Emefiele Was Not Signatory to Account
Under questioning, Mohammed told Justice Maryanne Anenih that the N124.86 billion withdrawn from the Consolidated Revenue Account could not be traced to Emefiele’s personal account and that the former CBN governor was not a signatory to the account.
He further said he was unaware of the public transactions or circumstances that prompted the Central Bank to withdraw the funds.
According to the witness, he was invited by EFCC officials over the N124.86 billion transaction but was neither interrogated about the circumstances surrounding the withdrawal nor asked to make a statement concerning it.
“I was invited by EFCC in respect of the withdrawal of the N124.86 billion but was neither interrogated on the circumstances that led to the withdrawal nor made any statement in respect of the same during my visit to the commission.”
Mohammed also told the court that EFCC operatives did not show him any document linking Emefiele to the withdrawal.
Three Government Letters Did Not Link Emefiele
The witness said three letters exchanged between the Federal Ministry of Finance and the Office of the Accountant-General of the Federation did not identify Emefiele as a signatory to the Consolidated Revenue Account.
He said none of the correspondence indicated that Emefiele personally authorised the debit of N124.86 billion from the Federal Government account.
“Of the three letters that emanated from the Federal Ministry of Finance and the Office of the Accountant-General, none of the letters suggested the name of Emefiele as a signatory to the Consolidated Revenue Account,” he told the court.
Mohammed further testified that the Ministry of Finance did not write to the CBN under Emefiele requesting the withdrawal, despite advice from the Accountant-General of the Federation.
He said the Ministry’s role after discovering the disputed transaction was essentially to inform the special investigator that it had no knowledge of the circumstances surrounding the withdrawal.
Ministry Sought Clarification After Emergency Meeting
Earlier in his testimony, Mohammed explained how he became involved in the investigation of the disputed transaction.
He told the court that he received a letter from the special investigator appointed by President Bola Tinubu to investigate the activities of the CBN under Emefiele, including the N124.86 billion withdrawal.
As supervisor of three divisions within the Home Finance Unit of the Ministry of Finance, Mohammed said he convened an emergency meeting with the heads of the divisions to determine whether they had any knowledge of the transaction.
According to him, the three division heads denied being privy to the alleged withdrawal.
Following the denials, he said, he wrote to the Accountant-General of the Federation through the Permanent Secretary of the Ministry, seeking clarification on the transaction.
Accountant-General’s Office Also Denied Knowledge
Mohammed said the Office of the Accountant-General of the Federation subsequently responded that it had no knowledge of the transaction.
According to the witness, the response indicated that the withdrawal must have been carried out by the CBN.
He said the findings were subsequently communicated to the special investigator in response to the investigator’s request for information.
The witness tendered the relevant correspondence from the Ministry of Finance and the Office of the Accountant-General of the Federation before the court.
The documents were admitted as exhibits without objection from Emefiele’s counsel, Olalekan Ojo, SAN.
Witness Unaware of Hajj Subsidy
During cross-examination, Mohammed also said he was unaware that the N124.86 billion withdrawn from the Consolidated Revenue Account was intended for the subsidy of the Hajj pilgrimage.
He equally told the court that he was not aware of the public transactions that preceded the withdrawal.
The witness said he had no personal interaction with the special investigator who investigated the CBN under Emefiele.
He also stated that the Ministry of Finance did not take any further action concerning the funds beyond informing the special investigator that it was unaware of the transaction.
Witness Says He Was Unaware of Buhari’s Ways and Means Approval
Mohammed further told the court that he was unaware that the late President Muhammadu Buhari obtained approval from the National Assembly for the use of the Ways and Means policy between 2016 and 2023.
The issue arose during further questioning by Emefiele’s defence counsel.
His testimony adds another dimension to the prosecution’s case, as questions surrounding the authority, documentation and institutional approval for government financial transactions remain central to the proceedings.
What the EFCC Alleges Against Emefiele
Emefiele is facing a four-count charge brought by the EFCC on behalf of the Federal Government.
The case, marked FCT/HC/CR/264/2024, borders on alleged disobedience to the direction of law and an alleged illegal act causing injury to the public.
Among the allegations, the EFCC accused Emefiele of between October 19, 2022 and March 5, 2023 disobeying the provisions of Section 19 of the CBN Act by approving the printing of 375,520,000 pieces of colour-swapped N1,000 notes at a cost of N11,052,068,062 without the recommendation of the CBN Board and the required approval of the President.
The prosecution alleges that the conduct caused injury to the public.
The alleged offences are said to contravene Section 123 of the Penal Code, Cap. 89, Laws of the Federation, 1990, and are punishable under the same law.
Emefiele has pleaded not guilty to the charges.
Trial Adjourned to November 26
Following the completion of the cross-examination, prosecution counsel Abbas Mohammed asked the court to discharge the witness.
Justice Maryanne Anenih subsequently adjourned the matter until November 26, 2026, for continuation of trial.
The testimony is significant because the witness, while confirming that the N124.86 billion was withdrawn from a Federal Government account, told the court that the available correspondence did not identify Emefiele as a signatory to the account or establish that he personally authorised the transaction.
The prosecution’s case, however, remains ongoing, and the testimony of other witnesses and documentary evidence will determine how the court ultimately assesses the allegations against the former CBN governor.
The proceedings have placed renewed focus on the documentary trail surrounding the N124.86 billion withdrawal and the institutional responsibilities of the Federal Ministry of Finance, the Office of the Accountant-General of the Federation and the CBN.
While Mohammed’s testimony did not establish a direct link between Emefiele and the withdrawal, the court is yet to determine the broader questions surrounding the transaction and the allegations contained in the charge.
Categories: Judiciary, Crime, Economy, CBN, EFCC, Politics, Accountability, Public Finance
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