The Special Investigator appointed by President Bola Tinubu to examine activities at the Central Bank of Nigeria (CBN) under former Governor Godwin Emefiele, Jim Obaze, has called for the prosecution of more individuals over the alleged $6.2 million fraud involving the apex bank.
Speaking while testifying as a prosecution witness in the ongoing trial of Emefiele at the High Court of the Federal Capital Territory on Friday, Obaze argued that the case should not be limited to the former CBN governor alone.
Witness names Buhari, Boss Mustapha and others
During his testimony, Obaze said the late former President Muhammadu Buhari should be prosecuted posthumously over his alleged role in the transaction, while former Secretary to the Government of the Federation (SGF), Boss Mustapha, should also face trial.
He further called for the prosecution of other individuals linked to the transaction, including Jibril Abubakar, who allegedly received the funds, Bashirudeen Maishanu, a CBN staff member, former members of the CBN board, and officials responsible for authorising the payment.
According to Obaze, prosecuting all those allegedly connected to the transaction would strengthen accountability and discourage similar offences in the future.
Court hears details of investigation
Obaze told the court that he became concerned after reviewing documents, including correspondence said to have originated from the Presidency and the Office of the SGF, requesting the release of $6.2 million for what was described as logistics for foreign election observers.
He noted that Boss Mustapha had denied authorising the request and maintained that documents linked to his office and the Presidency were forged.
The witness also questioned the internal controls at the CBN, arguing that proper due diligence should have detected irregularities before the funds were released.
Emefiele denies receiving stolen funds
Under cross-examination by Emefiele’s counsel, Matthew Burkaa, SAN, Obaze acknowledged that investigators did not recover any money from the former CBN governor.
He also stated that there was no evidence showing that funds from the alleged fraud were transferred into Emefiele’s personal account.
However, Obaze argued that the former apex bank governor should have been aware of the transaction because of his position at the time.
Trial adjourned to October
Obaze also told the court that President Bola Tinubu invited him in December 2023 and directed him, in the presence of the Attorney General of the Federation and the Chairman of the Economic and Financial Crimes Commission (EFCC), to prepare chargeable offences relating to the alleged fraud.
When informed that the charge had already been filed before that date, the witness said he could not comment because he is not a lawyer.
Justice Hamza Muazu subsequently adjourned the matter until October 20 for the continuation of trial.