The Economic and Financial Crimes Commission (EFCC) on Tuesday told the Ikeja Special Offences Court that $17.1 million in cash was allegedly funnelled to former Central Bank of Nigeria (CBN) Governor Godwin Emefiele through a trusted aide over a span of three years.
Assistant Commandant Alvan Gurumnaan, an EFCC investigator, made the revelation while testifying before Justice Rahman Oshodi in the ongoing trial of Emefiele and his co-defendant, Henry Omoile.
According to Gurumnaan, the money was handed to Mr. Monday Osazuwa, a close aide of Emefiele, by a businessman at a Victoria Island location between September 2020 and June 2023. Osazuwa then allegedly delivered the cash in tranches to Emefiele at his Ikoyi residence.
“The total money given is $17,100,000. Mr. Osazuwa collected these sums in various tranches and delivered them to Mr. Godwin Emefiele,” he testified.
He added that part of the money was also handed over to Omoile, based on Emefiele’s instructions.
Gurumnaan explained that the transactions came to light during a wide-ranging EFCC investigation triggered by intelligence reports alleging procurement fraud and abuse of office under Emefiele’s leadership at the apex bank.
The probe involved examining documents and interviewing senior officials from several CBN departments, including Financial Markets, Currency Operations, Banking Supervision, Trade and Exchange, Legal, and Human Resources.
The investigator also mentioned Mr. Eric Odoh, a former personal assistant to Emefiele, as a person of interest in the investigation. However, all efforts to bring Odoh in for questioning have failed.
“He absconded and was traced to the UK, Canada, and other countries, but we have not been able to locate him,” Gurumnaan said.
In further testimony, Mr John Adetola, Emefiele’s former executive assistant, told the court he received $400,000 on behalf of his boss in 2018, delivered by a certain Mr John Ayoh. The transaction, he said, was instructed via WhatsApp by Odoh.
However, under cross-examination by defence counsel Olalekan Ojo (SAN), Adetola admitted he did not document the transaction or retain any chat records. He also confirmed he was not offered immunity or facing prosecution.
Adetola revealed he was detained by the EFCC for 11 days but was never confronted with Emefiele or Ayoh.
The trial resumes on October 7, 8, and 9, 2025.
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