Witness Tells Court Suspects Confessed To $6.23m Fraud In Ongoing Trial Of Former CBN Governor Godwin Emefiele

A police commissioner tells the court that suspects confessed to a $6.23m fraud at the CBN. Read the latest on the Godwin Emefiele trial and forged presidential approvals.

By: AXL Media

Published: Apr 29, 2026, 4:09 AM EDT

Source: Information for this report was sourced from Politics Nigeria

New Testimony At The FCT High Court

The corruption trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele reached a critical juncture on Tuesday at the Federal Capital Territory High Court in Maitama. Eloho Okpoziakpo, a Commissioner of Police and the 14th prosecution witness, provided detailed testimony regarding a $6.23 million financial scandal. Emefiele currently faces a 20-count amended charge including abuse of office, criminal breach of trust, forgery, and obtaining money under false pretenses. The proceedings, presided over by Justice Hamza Muazu, continue to expose the inner workings of the apex bank during the lead-up to the 2023 general elections.

The Election Observer Deception

According to Okpoziakpo’s testimony, the $6.23 million was withdrawn from the CBN under the guise of funding international election observers. However, the witness told the court that a special investigation team—led by Jim Obaze and appointed by President Bola Tinubu—found these claims to be entirely fabricated. The witness highlighted that a suspect identified as Maishanu, among others, had already confessed to the fraudulent nature of the withdrawal. The investigation team's findings were further solidified when the Office of the Secretary to the Government of the Federation (SGF) formally denied ever requesting funds for election observers, a revelation that Okpoziakpo described as a major "red flag."

Forged Presidential Approval And Cash Disbursements

The court heard that the withdrawal was facilitated by forged documents, including a letter bearing a counterfeit approval from former President Muhammadu Buhari dated January 24, 2023. Okpoziakpo identified several exhibits, including the request directed to Emefiele and subsequent internal authorizations. Evidence recovered from the Abuja branch of the CBN showed that the millions of dollars were processed and disbursed entirely in cash, specifically in $100 denominations, on February 8, 2023. The prosecution maintains that these funds were diverted through a series of internal approvals that bypassed standard financial safeguards.