A key prosecution witness in the Economic and Financial Crimes Commission (EFCC) case against former Central Bank of Nigeria (CBN) Governor Godwin Emefiele on Thursday gave a numbing account of how $6.23 million (about N8.7b) was allegedly withdrawn from the apex bank using forged paperwork.
During proceedings at the Federal Capital Territory High Court, Abuja, the 11th prosecution witness, Bashirudden Muhammed Maishanu, an Assistant Director at the CBN, told Justice Hamza Muazu that the cash was taken on February 8, 2023, from the Garki branch of the CBN under the guise of funding “election observers” and related logistics ahead of the 2023 general elections.
Maishanu, led in evidence by EFCC Director of Public Prosecutions, Rotimi Oyedepo, SAN, recounted that he was first approached in early January 2023 by one Alhaji Ahmed, who claimed to be acting on behalf of a “special committee” in the Office of the Secretary to the Government of the Federation (SGF). Ahmed allegedly told him that presidential approval had been obtained and that the next step was to secure Emefiele’s sign-off before cash payment could be made.
The witness explained that he could not personally accompany the withdrawal and suggested a friend instead, who went with Ahmed to the CBN branch where the $6.23 million was cashed in full. Of this amount, Ahmed later reportedly left with $2.5 million, while another $2.5 million was kept by Maishanu and two others. The witness described the sum as “outrageous,” saying there had been no prior negotiation for any payment.
Under cross-examination by defence counsel Mathew Burkar, SAN, Maishanu admitted he did not see the approval being signed and could not identify who authorized it. However, he insisted that the internal CBN documents tracing the withdrawal showed signatures of officials involved. He told the court he was “sure” the documents were forged because of the strict procedures normally required for such large cash payments at the bank.
Maishanu also testified that he did not participate in election monitoring and was not initially aware the documents were fraudulent. He said he later met Mr. Obazi, a presidential investigator, who showed him what he described as forged documents related to the transaction, prompting him to accept personal responsibility for his involvement — a decision he said was driven by reputational concern and the absence of the alleged intermediary, Eric Ocheme.
Emefiele is facing a 20-count charge in the EFCC’s amended charge sheet, including allegations of obtaining funds by false pretences and procurement fraud. Among these are claims he illegally awarded contracts worth about N1.2 billion to a CBN staffer’s company for the procurement of vehicles.
The trial, which began in 2024 and has drawn national attention, is expected to stretch into mid-2026. Separately, another High Court bench has set a June deadline to conclude matters linked to the controversial naira redesign policy case against the former governor.
Justice Muazu adjourned Thursday’s proceedings to Friday, January 30, 2026, for continuation of the trial.
