An Economic and Financial Crimes Commission (EFCC) witness on Tuesday told the High Court of the Federal Capital Territory (FCT) in Abuja that he never received payment instructions directly from former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, regarding the disputed 753-unit housing estate in Abuja.
The witness, Richard Agulu, who testified as the third prosecution witness (PW3), made the clarification during cross-examination by Emefiele’s lead counsel, Mathew Burkaa (SAN), as the trial continued before Justice Yusuf Halilu.
Emefiele is facing an eight-count charge filed by the Economic and Financial Crimes Commission over the alleged unlawful acquisition of a 753-unit housing estate in Abuja and the alleged control of billions of naira through proxy accounts.
During cross-examination, Agulu admitted transferring more than N5 billion into the accounts of Ifeadigo and Kelvito Investment without following standard banking procedures.
He told the court that the transactions were processed outside official banking hours, explaining that normal operational procedures were not observed because of the circumstances surrounding the transfers.
According to the witness, the instructions to execute the transfers came from Eric Ocheme, who was identified as a former personal assistant to Emefiele, and not from the former CBN governor himself.
Agulu further admitted making cash deposits into customers’ accounts while indicating in transaction records that the deposits had been made by the account holders.
He also acknowledged that despite bypassing banking procedures, he was never investigated or prosecuted by the EFCC over the transactions.
The witness told the court that he obtained an oral waiver from Zenith Bank’s Head of Operations, Macauly Iheaoronye, which he said allowed him to process the cash lodgments outside the bank’s standard procedures.
When confronted with Zenith Bank’s operational policy by the defence, Agulu maintained that the transactions were handled differently because of what he described as the peculiar circumstances at the time.
He also informed the court that he never had any physical contact with Emefiele throughout the transactions and that his statement to the EFCC did not indicate that he delivered payment receipts to the former CBN governor.
Following the cross-examination, defence counsel urged the court to take judicial notice of what he described as the witness’s deliberate refusal to answer certain questions relating to his role in the banking transactions.
However, prosecution counsel, Abbas Mohammed, opposed the application, arguing that it was solely within the court’s discretion to determine whether a witness was withholding information.
Justice Halilu subsequently adjourned the matter until November 3 for the continuation of trial.
The EFCC alleges that Emefiele and Eric Ocheme, who is currently at large, unlawfully acquired the Abuja housing estate and controlled billions of naira through proxy accounts maintained with Zenith Bank.
The anti-graft agency also accused Emefiele of forging an “Irrevocable Power of Attorney Between MG Properties Limited and H and Y Business Global Limited” in January 2021 with the intent of presenting it as a genuine document executed by H and Y Business Global Limited.
According to the EFCC, the alleged offences contravene Sections 319, 362 and 364 of the Penal Code. Emefiele has pleaded not guilty to all the charges.
