Witness Testifies $6.23m Was Illegally Withdrawn from CBN for Fake Election Observer Funding
On Monday, April 27, 2026, prosecution witness Chinedu Eneanya told Justice Hamza Muazu of the Federal Capital Territory High Court, Maitama, Abuja, that a total of $6.23 million was allegedly siphoned from the coffers of the Central Bank of Nigeria (CBN) under the guise of funding foreign election observers.
The Economic and Financial Crimes Commission (EFCC) is prosecuting former CBN Governor Godwin Emefiele on an amended 20‑count charge bordering on criminal breach of trust, forgery, abuse of office, and conspiracy to obtain by false pretence.
Led in evidence by prosecution counsel Rotimi Oyedepo, SAN, Eneanya (PW13) testified that investigations revealed the funds were withdrawn purportedly to sponsor foreign observers for the 2023 general elections. He stated that documents authorising the release of the funds were recovered from the CBN, and forensic analysis confirmed that the signatures of former President Muhammadu Buhari and former Secretary to the Government of the Federation, Boss Mustapha, were forged to facilitate the transaction.
Under cross‑examination by defence counsel Matthew Burkaa, SAN, Eneanya disclosed that five CBN officials who signed the internal memo relating to the transaction were suspended.
Earlier, Burkaa had applied for foreclosure of the prosecution’s case if it failed to present its remaining witnesses, alleging deliberate delay. Oyedepo opposed the application, explaining that the prosecution faced challenges securing witnesses outside Abuja’s jurisdiction, in Benin City and Lagos. Justice Muazu directed the prosecution to liaise with the court registrar for subpoenas and adjourned the matter to April 28, 2026.
In a related development, Justice Muazu issued subpoenas compelling Jim Obazee, former Executive Officer of the Financial Reporting Council of Nigeria (FRC), and Commissioner of Police Eloho Okpoziakpo to appear as prosecution witnesses. They are expected to testify on investigations into Emefiele’s alleged offences and provide explanations regarding newspaper publications on the Naira redesign policy.
