The prosecution’s case against former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, suffered a setback in the Federal Capital Territory (FCT) High Court on Friday after an Economic and Financial Crimes Commission (EFCC) witness was unable to establish a direct link between the former CBN boss and the alleged proxy bank accounts.
The witness, Mshelia Arhyel, a compliance officer at Zenith Bank Plc, testified as the first prosecution witness (PW1) in the trial regarding the alleged fraudulent acquisition of a massive 753-unit housing estate in the Lokogoma District of Abuja.
Under cross-examination by Emefiele’s counsel, Matthew Burkaa, Senior Advocate of Nigeria (SAN), Arhyel admitted that Emefiele’s name was conspicuously absent from the account opening documents of the three companies central to the charge: MG Properties Limited, Ifedigo Integrated Services, and Kelvito Integrated Services.
“I do not know the owner of the accounts,” Arhyel told the court, adding that he was not called upon by the EFCC to make a statement concerning the accounts before being summoned to testify. He confirmed he only signed a certificate of compliance on May 29.
The EFCC is prosecuting Emefiele alongside Eric Ocheme (said to be at large) on an eight-count charge. The anti-graft agency alleges that the two men unlawfully possessed billions of naira domiciled in the Zenith Bank accounts of the aforementioned companies, funds suspected to have been illegally obtained for the purchase of the 150,462.86 square meter property. Specifically, the prosecution claims N167 million and N1.23 billion were held in the Kelvito Integrated Services account, with an additional N900 million and N600 million linked to the Ifedigo Integrated Services account.
Background on the Emefiele Legal Battle
The trial of Godwin Emefiele is one of the most high-profile corruption cases in Nigeria’s recent history, following his removal from office in June 2023 by President Bola Tinubu. Emefiele, who served as CBN Governor from 2014, faces a labyrinth of legal challenges across multiple jurisdictions.
The various charges leveled by the EFCC against former CBN Governor Godwin Emefiele fall broadly into three categories. The first involves property and money laundering, specifically the case in Abuja concerning the 753 housing units and alleged proxy accounts, which is part of a wider effort by the anti-graft agency to recover assets believed to have been unlawfully acquired. Secondly, in Lagos, Emefiele is facing trial on charges bordering on receiving gratification and alleged fraudulent property transactions involving billions of naira and millions of US dollars in foreign exchange allocation. Finally, he faces separate charges in Abuja related to allegedly authorizing the printing of large volumes of naira notes at an exorbitant cost without due presidential approval.
During the hearing, Emefiele’s defense team challenged the FCT High Court’s jurisdiction, asserting that given the witness’s inability to establish a connection between the defendant and the accounts, the charge should be quashed. Justice Yusuf Halilu, who presided over the hearing, directed both sides to proceed with the trial but assured that the arguments on jurisdiction would be considered before a final ruling.
The trial was subsequently adjourned until November 26 for continuation of cross-examination.
