A witness within the trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele on Thursday advised a Federal Capital Territory Excessive Courtroom in Abuja that $6.23 million was withdrawn from the CBN’s Garki Department utilizing solid paperwork.
The disclosure was contained in a press release issued by the Financial and Monetary Crimes Fee (EFCC) on Thursday, January 29, 2026.
In keeping with the witness, the cash was allegedly supposed for election-related bills, together with funds to election observers, however the withdrawal was processed by way of fraudulent approvals.
What the EFCC is saying
In keeping with the assertion, Bashirudden Muhammed Maishanu, an Assistant Director at CBN and the eleventh prosecution witness (PW11), advised the courtroom that he was approached in January 2023 by a person named Alhaji Ahmed.
Ahmed claimed to have obtained presidential approval for the money withdrawal.
“The Eleventh Prosecution Witness, PW11, Bashirudden Muhammed Maishanu within the trial of former Governor of Central Bank of Nigeria, Godwin Emefiele, on Thursday, January 29, 2026, advised Justice Hamza Muazu of the Federal Capital Territory Excessive Courtroom, Abuja, that the sum of $6,230,000.00 (Six Million, Two Hundred and Thirty Thousand United States {Dollars}) was withdrawn from the Garki Department of the Apex Bank on February 8, 2023 by way of solid papers for alleged election observers and logistics,” the assertion learn partially.
The way it performed out
In keeping with the EFCC assertion, the witness stated he was requested to advocate somebody to gather the cash, as he couldn’t go personally. His buddy later collected the $6.23 million from the Garki Department, after which $2.5 million was left with him and two others.
- He added that he later realized the paperwork authorizing the withdrawal have been possible solid and described the incident as a set-up. He harassed that he had no involvement in monitoring the 2023 elections and didn’t initially know the withdrawal was fraudulent, the assertion famous.
- The assertion additional stated that Maishanu defined CBN’s inner procedures for approving money withdrawals, which embody board or governor approval and a traceable doc movement.
He reportedly stated the bank applies sanctions starting from warnings and demotion to dismissal for erring employees, relying on the character and gravity of the offence, and famous that he himself didn’t face any disciplinary motion in relation to the matter.
The trial is ongoing, with the courtroom scheduled to proceed proceedings on Friday, January 30, 2026, because it examines the involvement of Emefiele and others within the alleged fraudulent withdrawal.
Flashback
In June 2023, the Division of State Companies confirmed that Godwin Emefiele, former CBN Governor below the Buhari administration, was in its custody, hours after initially denying his arrest.
His suspension adopted a directive by President Bola Tinubu, who ordered him at hand over to the Deputy Governor (Operations), Folashodun Adebisi Shonubi, pending investigations and monetary sector reforms.
- After his suspension, Emefiele filed a elementary human rights go well with over his detention, which the courtroom granted. He was arraigned in July 2023 on fees of unlawful possession of firearms and ammunition, a case later withdrawn and struck out.
- In November 2023, the EFCC arraigned him on procurement-related fees, which have been subsequently amended. In April 2024, he was once more arraigned earlier than a Lagos Excessive Courtroom over alleged abuse of workplace linked to overseas change allocations. He pleaded not responsible, and the instances stay pending.
What you need to know
Former CBN Governor Godwin Emefiele has spent over three years going through authorized instances over alleged fraud throughout his tenure, together with the illegal acquisition of property and enormous sums of cash.
In Could 2025, bank representatives have been listed as witnesses within the EFCC case, which includes N7.8 billion and 753 housing items at Plot 109, Lokogoma District, FCT.
- Emefiele and Eric Ocheme are accused of unlawfully controlling the property, transferring N7.8 billion throughout a number of accounts, and executing a false Irrevocable Energy of Lawyer to misrepresent authority over the property.
- The EFCC has listed witnesses from Zenith Bank and Access Bank to offer paperwork and proof. The property was inspected by the Minister of Housing and recovered following a closing forfeiture order in December 2024, which the courtroom dominated was “fairly suspected to have been acquired with proceeds of illegal actions.” Emefiele has reportedly appealed.
In February 2025, a Lagos Federal Excessive Courtroom ordered the forfeiture of $4.7 million, N830 million, and different properties linked to Emefiele, together with $900,000 traced to his relative, Anita Pleasure Omoile.
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