A prosecution witness has told the Federal Capital Territory High Court in Abuja that $2 million in cash was recovered from the lawyer of former Central Bank Governor Godwin Emefiele during an investigation by the Economic and Financial Crimes Commission (EFCC).
The witness, David Jaiyeoba, an investigator with the anti-graft agency, disclosed this while testifying before the court on Thursday.
According to him, the lawyer identified as Collins Omeife admitted during interrogation that the money belonged to Emefiele.
Jaiyeoba said the discovery formed part of the evidence gathered by the commission in its ongoing prosecution of the former apex bank chief.
Lawyer Linked Cash to Emefiele
During his testimony, Jaiyeoba told the court that Omeife revealed he regularly received funds connected to Emefiele through the former CBN governor’s personal assistant.
The EFCC investigator stated that the lawyer confirmed that the funds were delivered by Eric Ocheme, who allegedly acted as an intermediary.
According to the witness, the money was used primarily for property acquisition and renovation projects allegedly linked to Emefiele.
He said investigators traced several real estate investments believed to have been funded through the transactions.
Properties Linked to the Investigation
The EFCC listed several properties allegedly connected to the funds recovered during the investigation.
Among them is a detached duplex located at 17B Hakeem Odumosu Street in Lekki Phase 1, Lagos State.
Investigators also identified a bungalow and an undeveloped parcel of land measuring approximately 1,919 square metres on Oyinkan Abayomi Drive in Ikoyi.
Another property cited in the testimony is a four-bedroom duplex located at 12A Probyn Road in Ikoyi.
The witness further mentioned additional assets allegedly linked to the transactions.
These include:
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an industrial complex under construction on 22 plots of land in Agbor, Delta State
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eight units of undetached apartments on Adekunle Lawal Road in Ikoyi, Lagos
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a detached duplex on Bank Road in Ikoyi
According to the EFCC, the properties are part of assets investigators believe were acquired using funds associated with the former CBN governor.
EFCC Charges Against Emefiele
The EFCC formally charged Godwin Emefiele in June 2023 with a 20-count amended charge related to alleged financial misconduct.
The charges include:
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criminal breach of trust
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conspiracy to commit forgery
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procurement fraud
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obtaining by false pretence
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conspiracy to commit felony
Prosecutors also accused the former CBN governor of authorising a fraudulent payout of $6.23 million from the Central Bank of Nigeria vault in Abuja in 2023.
According to the EFCC, the money was allegedly released under the pretext of covering expenses for foreign election observers, which investigators claim were fictitious.
The allegations form part of the broader corruption case currently before the court.
Emefiele Denies All Allegations
Despite the accusations, Emefiele has denied all the charges filed against him.
His legal team maintains that the former central bank governor is innocent and that the prosecution’s claims will not stand legal scrutiny.
The trial is expected to continue with further witness testimonies and presentation of evidence by the prosecution.
Legal analysts say the case could become one of the most significant corruption trials involving a former Nigerian financial regulator in recent years.
Background to the Case
Godwin Emefiele served as governor of the Central Bank of Nigeria from 2014 to 2023, making him one of the longest-serving heads of the apex bank.
His tenure oversaw major monetary policies, including currency redesign, foreign exchange reforms, and intervention programmes aimed at stabilising Nigeria’s economy.
However, his time in office was also marked by controversies, investigations, and legal battles following his suspension from office.
