Former CBN Governor Emefiele Faces Trial Over Alleged $6.23 Million Withdrawal

By Otobong Gabriel,  Abuja 

In a dramatic turn in the ongoing trial of Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), a prosecution witness on Thursday revealed that $6.23 million was allegedly withdrawn in cash from the Garki Branch of the CBN using forged documents, purportedly for election-related logistics.

Bashirudden Maishanu, an assistant director at the apex bank, testified as the eleventh prosecution witness (PW11) before Justice Hamza Muazu of the Federal Capital Territory (FCT) High Court, Abuja. According to Maishanu, the transaction took place on February 8, 2023, under the pretext of funding election observers.

The witness recounted that he first became acquainted with Emefiele in 2015 through Eric, the former CBN governor’s personal assistant. In early January 2023, Maishanu said he was approached by Alhaji Ahmed, who claimed to be working with a Special Committee in the Office of the Secretary to the Government of the Federation (SGF).

Ahmed allegedly informed him that Eric had directed him to discuss some financial transactions being processed at the CBN. Maishanu said he requested verification and spoke directly with Eric, who confirmed the arrangement.

According to the witness, Ahmed explained that a presidential approval had been secured for a CBN payment and that they intended to proceed to the bank for disbursement. When Maishanu asked about his role, he said he was told it was too early to discuss specifics.

A week later, Ahmed reportedly returned, showing Maishanu the approval letter and indicating that cash payment had been authorized. He asked Maishanu if he could accompany them or recommend someone to collect the funds. Maishanu declined but suggested an acquaintance.

On February 8, 2023, Maishanu testified, his friend and driver went to the CBN’s Garki Branch and withdrew $6.23 million in cash. The money was reportedly delivered to a location within an estate known as 09 Clubhouse on Ibrahim Coomasie Crescent.

“The funds were cashed, and Mr. Ahmed left with $2.5 million in cash along with his associates,” Maishanu said. He added that the remaining portion, also $2.5 million, was left with him and two others.

The testimony marks a significant development in the high-profile case, which continues to draw national attention over allegations of financial misconduct at the apex bank.