By Paul Joseph
The legal troubles surrounding Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN), that has been silent in a while have resurfaced as the Economic and Financial Crimes Commission (EFCC) has released detailed bank records and internal memoranda allegedly linking him to $2.045 million and various property transactions.
During testimony at the Federal Capital Territory High Court in Abuja, David Jaiyeoba, the 12th prosecution witness and an EFCC operative, explained that the commission’s investigation was based on approvals, bank statements, and internal documents obtained from both the CBN and Zenith Bank.
Under the guidance of Rotimi Oyedepo (SAN), the Prosecution Counsel and Director of Public Prosecutions, Jaiyeoba identified multiple internal CBN memoranda that authorized payments for renovations, landscaping, power supply, and furnishing of Emefiele’s official residence in Ikoyi, Lagos.
Among the documents presented was Exhibit A1, which is an internal memorandum approving payments to Architeco Nigeria Limited for renovation work at the residence.
Exhibit A2, a contract for landscaping services at the same residence by the same company, was also submitted, with the witness confirming that the approvals were granted by Emefiele.
Additionally, Jaiyeoba pointed out Exhibit A5, an internal memo requesting approval for a payment of N97,998,416.38 to Architeco Nigeria Limited for supplying office furniture to the bank, which he stated bore Emefiele’s approval. Another document, Exhibit A8, was an internal memorandum concerning a contract for dedicated power lines to the Ikoyi residence, which included an interim certificate and was approved by Emefiele.
The witness informed the court that as part of the investigation, the EFCC contacted Zenith Bank to trace Emefiele’s account, presenting Exhibits ED1, ED2, and ED3 as the responses received from the bank.
He noted a debit entry dated January 13, 2015, on account number 2020000064, which indicated a payment of N4 million to Architeco Nigeria Limited.
Jaiyeoba further testified that the investigation led to the recovery of $2.045 million, along with several properties and title documents, from the headquarters of Zenith Bank Plc in Lagos. “My Lord, the funds totaling $2,045,000, along with various properties and title documents, were recovered from Zenith Bank Plc headquarters in Lagos, in the possession of one Mr. Collins Omeke, a lawyer for the defendant,” he stated.
He added that Omeke revealed during the investigation that he had been acquiring and finalizing title documents for properties at the direction of Emefiele, with the purchases funded by cash payments in U.S. dollars allegedly provided by Emefiele.
The witness also mentioned that Omeke claimed the cash found with him was sent by Eric Ocheme Udoh for the defendant, and that some of the money had been used to renovate certain assets belonging to Emefiele.
At the end of the testimony, the prosecution requested to postpone the trial to March 5, 16, and 17, 2026, for further proceedings.
Defense attorney Matthew Burkaa, SAN, did not object to the request but warned against what he called repetitive evidence, pointing out that a previous witness had already confirmed similar approvals.
In his comments, the trial judge, Justice Hamza Muazu, stated that he would permit the prosecution to continue but expressed concern that they seemed overly cautious.
He then adjourned the case to March 5, 16, and 17, 2026. Emefiele, who was the Governor of the Central Bank of Nigeria from 2014 to 2023, is facing a trial on 20 counts related to alleged procurement fraud amounting to approximately N1.2 billion.
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