Emefiele trial: Witness says $6.23m withdrawn from CBN with forged documents

A prosecution witness in the trial of Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), has told the Federal Capital Territory (FCT) high court in Abuja that $6.23 million was withdrawn from the apex bank using forged documents.

Bashirudden Maishanu, the 11th prosecution witness (PW11) and an assistant director at the CBN, gave his testimony on Thursday before Hamza Muazu, the presiding judge, in the case instituted by the Economic and Financial Crimes Commission (EFCC) against Emefiele.

Led in evidence by Rotimi Oyedepo, EFCC director of public prosecutions, Maishanu said the funds were withdrawn from the Garki branch of the CBN on February 8, 2023.

The witness told the court that he was approached in January 2023 by one Alhaji Ahmed, who claimed to be working with a special committee in the office of the secretary to the government of the federation (SGF).

According to the witness, Ahmed said he was directed by Eric Ocheme, identified as Emefiele’s personal assistant while he was CBN governor, to meet him over some transactions being processed at the bank.

Maishanu said Ahmed later told him that presidential approval had been obtained for the payment and that the next step was to secure Emefiele’s approval.

He added that Ahmed requested the funds to be paid in cash and asked him to either accompany the payments or recommend someone to do so.

“I told him I could not go and suggested someone I knew,” the witness said.

Maishanu testified that on February 8, 2023, the money was cashed at the Garki branch of the CBN.

He said after the withdrawal, Ahmed allegedly left with $2.5 million in cash, while another $2.5 million was left with him and two others.

“I saw the cash and thought it was outrageous because we never negotiated for any payment,” he said, adding that he advised his friends to keep the money, which they agreed to do.

The witness further told the court that the $6.23 million was meant to cover election-related expenses, including payments for election observers.

On how the CBN disciplines erring staff, Maishanu said sanctions range from warnings to dismissal, depending on the gravity of the offence, and are determined by a disciplinary committee in line with the bank’s human resource handbook.

According to him, he was not subjected to any disciplinary action by the CBN board in relation to the matter.

During cross-examination by Matthew Burkaa, defence counsel, the witness said he did not personally see the approval being signed but insisted that the documents were fraudulent.

“I am sure because the CBN has rigorous processes for payment, especially for cash transactions of that value,” he said.

Maishanu also told the court that all officials involved in the withdrawal could be traced through internal documentation, noting that each step in the process carries identifiable signatures.

The witness admitted that he did not participate in monitoring the 2023 elections, admitting to not initially knowing the funds were fraudulent.

Maishanu added that he later saw forged documents related to the transaction and accepted personal responsibility for his involvement, describing the situation as a “set-up”.

The judge adjourned the matter until January 30, 2026, for continuation of trial.