The special investigator appointed by President Bola Tinubu to probe the alleged $6.2 million fraud involving the Central Bank of Nigeria (CBN), Jim Obazee, has questioned why only former CBN Governor Godwin Emefiele is standing trial over the matter.
Obazee made the remarks while testifying before a High Court of the Federal Capital Territory (FCT), where Emefiele is facing a 20-count amended charge filed by the Economic and Financial Crimes Commission (EFCC). The charges include alleged criminal breach of trust, procurement fraud, abuse of office, forgery and conspiracy relating to the movement of $6.23 million reportedly earmarked for international election observers during the 2023 general elections.
Emefiele has denied all the allegations and is currently on bail pending the conclusion of the trial.
While giving evidence as the prosecution’s 15th and final witness, Obazee argued that several other individuals mentioned during the investigation should also face prosecution if the allegations are to be fully addressed.
Among those he identified were the late former President Muhammadu Buhari, former Secretary to the Government of the Federation Boss Mustapha, a CBN official identified as Bashirudeen Maishanu, the Abuja branch manager of the apex bank and members of the bank’s former Board of Governors.
Obazee said documents obtained during the investigation included a letter allegedly authorising the release of the funds and another communication directing that the money be paid to Jibril Abubakar, who was reportedly introduced as a staff member in the Office of the Secretary to the Government of the Federation.
He told the court that subsequent statements from former SGF Boss Mustapha denied any knowledge of the documents authorising the release of the funds, a development he said raised further questions that should be investigated.
According to Obazee, accountability should extend to everyone who played a role in the approval or release of the funds, adding that officials responsible for processing the payment should have carried out the necessary verification procedures before the money was released.
During cross-examination by Emefiele’s lawyer, Matthew Burkaa, SAN, Obazee admitted that no money was recovered directly from the former CBN governor and that investigators found no evidence showing that any of the disputed funds were transferred into Emefiele’s personal account.
He, however, maintained that as the head of the Central Bank at the time, Emefiele was expected to have knowledge of transactions carried out under his administration.
Obazee also informed the court that President Bola Tinubu appointed him on December 19, 2023, to investigate the alleged fraud and prepare prosecutable offences where evidence supported criminal charges.
Following the close of the prosecution’s case after calling 15 witnesses, Emefiele’s legal team indicated that it would file a no-case submission, arguing that the evidence presented was insufficient to sustain the charges.
Justice Hamza Muazu adjourned further proceedings in the case until October 20.
