₦124.8bn CBN Withdrawal Not Linked to Emefiele, EFCC Witness Tells Court

A fresh revelation was made at the ongoing hearing of the corruption charge against former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

A prosecution witness testified that a massive ₦124.8 billion withdrawal from the government’s account was never actually linked to Emefiele.

The EFCC witness, Dr. Ali Mohammed, who is the Director of Home Finance at the Ministry of Finance, took the stand at Wednesday’s resume hearing. But during cross-examination, things took a sharp turn.

When the defense lawyers pressed him, Dr. Mohammed openly confirmed that the billions taken from the Consolidated Revenue Account did not go into Emefiele’s personal accounts. He added that Emefiele was also not even a signatory to that government account.

He further revealed that neither the Finance Ministry nor the Accountant General ever questioned or queried the massive withdrawal while Emefiele was in office.

According to him, there was no shred of evidence indicting Emefiele for the money during the Commission’s interrogation.

Asked to explain the reason for the withdrawal of such a huge amount of money, Dr. Mohammed acknowledged that the funds were actually used to subsidize the Hajj pilgrimage—and that it came under the direct orders of former President Muhammadu Buhari.

Emefiele is being tried for allegedly approving the printing of over 375 million pieces of the color-swapped ₦1,000 notes—at a cost of over ₦11 billion—without proper CBN Board recommendations or strict approval from the President.

He pleaded not guilty to the charges. Trial judge, Justice Maryanne Anenih has adjourned the case, and the trial is set to continue on November 26.