A prosecution witness in the ongoing trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has told a Federal Capital Territory High Court in Abuja that $6.23 million was allegedly taken in cash from the apex bank using forged documents, said to be linked to election logistics.
The witness, Bashirudden Muhammed Maishanu, an Assistant Director at the CBN and the 11th prosecution witness, gave the testimony on Thursday before Justice Hamza Muazu.
According to Maishanu, the withdrawal took place on February 8, 2023, at the CBN’s Garki branch. He said the documents presented indicated the funds were meant for election observers and related logistics, but he later discovered the paperwork was falsified.
While being led in evidence by the Director of Public Prosecutions, Rotimi Oyedepo (SAN), Maishanu explained that he became acquainted with Emefiele in 2015 through Eric, who served as the former governor’s personal assistant.
He told the court that in January 2023, a man identified as Alhaji Ahmed approached him, claiming to be attached to a special committee in the Office of the Secretary to the Government of the Federation (SGF). Ahmed reportedly said he was sent by Eric regarding transactions being processed at the CBN.
Maishanu said he demanded proper identification and confirmation, which he claimed Eric later provided. Ahmed subsequently informed him that a presidential approval had been secured for election-related spending and showed him a copy.
The witness stated that Ahmed later said approval from the CBN governor would also be obtained and requested that the funds be released in cash. Maishanu said he declined direct involvement but suggested that a friend accompany Ahmed instead.
He told the court that on the withdrawal date, his friend and a driver went to the Garki branch and collected the $6.23 million. He said he was later informed that Ahmed left with $2.5 million, while the balance was left behind with his associates.
Maishanu said he was shocked by the size of the cash involved and suggested the money be kept aside since there had been no prior agreement on payment with Ahmed.
On CBN disciplinary procedures, the witness explained that sanctions for misconduct range from warnings to dismissal, depending on the offence, and usually follow investigations and disciplinary committee hearings. He added that he was not sanctioned by the CBN board over the incident.
He also told the court that approvals for such transactions typically come from the CBN governor or the Committee of Governors, although he did not personally witness the signing of the approval documents tied to the withdrawal.
Under cross-examination by defence counsel Mathew Burkaa (SAN), Maishanu admitted he did not see who signed the approvals but maintained that internal records show a traceable approval trail. He argued that given the CBN’s strict payment controls, it would be unlikely for such a transaction to pass through without forged documentation.
He clarified that the $2.5 million left behind was meant for himself and two others collectively, not as a personal gift. He also acknowledged that he was not involved in election monitoring and initially did not suspect fraud because the payment appeared to follow official documentation.
Suspicion arose, he said, due to the unusually large amount of cash left with his associates. He later said another official, Mr. Obazi, showed him the forged documents, after which he accepted responsibility for his involvement and described the situation as a set-up.
Justice Muazu adjourned the matter to January 30, 2026, for continuation of the trial.
