The trial of former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, on Thursday took a dramatic turn as a prosecution witness narrated how $6.23 million was allegedly withdrawn in cash from the apex bank using forged documents purportedly approved for election-related logistics.
Testifying before Justice Hamza Muazu at the Federal Capital Territory High Court, the eleventh prosecution witness, Bashirudden Muhammed Maishanu, an Assistant Director at the CBN, told the court that the cash withdrawal took place on February 8, 2023, at the Garki branch of the bank.
Maishanu, who was led in evidence by the Economic and Financial Crimes Commission (EFCC) through its Director of Public Prosecution, Rotimi Oyedepo, SAN, said he became involved in the transaction after being contacted in January 2023 by one Alhaji Ahmed, who claimed to be working with a special committee in the Office of the Secretary to the Government of the Federation (SGF).
According to the witness, Ahmed told him that the committee was processing a payment from the CBN allegedly authorised by the president for election observers and logistics. Though initially skeptical, Maishanu said he contacted Eric, a former personal assistant to Emefiele, who confirmed that Ahmed had indeed been directed to see him.
He told the court that about a week later, Ahmed returned with what he described as a copy of presidential approval and stated that the next step was to obtain the CBN governor’s consent. At that stage, Ahmed requested cash payment and asked Maishanu to either accompany them or recommend someone to assist.
Maishanu said he declined but introduced a friend, who later went with Ahmed to the Garki branch of the Central Bank of Nigeria, where the sum of $6.23 million was reportedly paid in cash.
“My friend later called to inform me that the money had been collected and that Mr. Ahmed left with $2.5 million in cash alongside his associates,” the witness told the court, adding that the remaining funds were left with his friend at a location identified as 09 Club House, Ibrahim Coomasie Crescent, Abuja.
The witness admitted that he and two others were left with $2.5 million, which he said immediately raised suspicion. “I saw the volume of cash and found it outrageous. We never negotiated any payment with Ahmed. I suggested we keep the money, and they agreed,” he said.
Explaining the internal disciplinary processes of the CBN, Maishanu told the court that sanctions for staff misconduct range from warnings to dismissal, depending on the severity of the offence, and are handled by a disciplinary committee. He noted, however, that he was not sanctioned by the CBN board in relation to the matter.
Under cross-examination by defence counsel, Mathew Burkar, SAN, the witness admitted he did not personally witness the signing of the approval documents but insisted that the transaction trail could be traced through internal CBN records.
“I am sure the approval was fraudulent,” he said. “The CBN has rigorous payment processes, and it is highly unlikely that such a large cash transaction could pass through legitimately with forged documents.”
Maishanu further told the court that he did not participate in monitoring the 2023 general elections and only became aware of the fraud after being shown forged documents by one Mr. Obazi. He said he agreed to accept responsibility because of his indirect involvement and fear of reputational damage.
Justice Muazu adjourned the matter until Friday, January 30, 2026, for the continuation of the trial.