Emefiele in court
A prosecution witness in the ongoing trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, Dr. Ali Mohammed, has informed the High Court of the Federal Capital Territory (FCT) in Maitama, Abuja, that Emefiele was not a signatory to the withdrawal of N124.86 billion from the Consolidated Revenue Account.
Testifying during cross-examination, Mohammed a director of Home Finance at the Federal Ministry of Finance, also revealed that neither the Minister of Finance nor the Accountant-General of the Federation issued a query over the fund withdrawal by the central bank.
Emefiele is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on a four-count charge bordering on disobedience to the direction of law and illegal acts causing injury to the public (charge marked FCT/HC/CR/264/2024).
The anti-graft agency alleges that between October 19, 2022, and March 5, 2023, the former CBN chief disobeyed Section 19 of the CBN Act by approving the printing of 375,520,000 pieces of color-swapped N1,000 notes at a cost of N11.05 billion without the recommendation of the CBN Board and strict approval of the President.
The alleged offences violate Section 123 of the Penal Code, Cap 89 Laws of the Federation, 1990. Emefiele has pleaded not guilty to all charges.
Cross-examined by defense counsel Olalekan Ojo, SAN, the witness confirmed that the N124.86 billion was never traced to Emefiele’s personal bank account, nor did the former governor authorize the debiting of the Federal Government account.
Mohammed stated that he was unaware of the underlying transactions that led to the CBN’s withdrawal, including suggestions that the money was meant for a Hajj pilgrimage subsidy.
“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 told the court, adding that investigators never showed him any document indicting the defendant.
He further testified that among the three official letters originating from the Ministry of Finance and the Office of the Accountant-General of the Federation, none mentioned Emefiele as a signatory to the Consolidated Revenue Account or indicated that he authorized the debit.
When questioned about broader financial operations, the witness said he was unaware of whether former President Muhammadu Buhari obtained National Assembly approval for the use of the “Ways and Means” policy between 2016 and 2023.
Earlier in his chief evidence, Mohammed recounted how he received an inquiry from the Special Investigator appointed by President Bola Tinubu to probe the CBN under Emefiele’s tenure.
As the supervisor of three divisions under the Home Finance Unit, Mohammed convened an emergency meeting where all unit heads denied knowledge of the N124.86 billion withdrawal.
Consequently, he escalated the inquiry to the Accountant-General of the Federation through the ministry’s Permanent Secretary. The Accountant-General’s office similarly denied knowledge of the transaction, concluding that the debit must have been executed independently by the CBN. These findings were subsequently transmitted back to the Special Investigator.
All correspondence between the Ministry of Finance and the Office of the Accountant-General of the Federation was admitted into evidence as exhibits by the court without objection from the defense.
Following the cross-examination, prosecution counsel Abbas Mohammed requested the court to discharge the witness and grant an adjournment.
Presiding judge Justice Maryanne Anenih subsequently adjourned the matter until November 26 for the continuation of trial.
