A senior CBN director has told a court in Abuja that he accepts responsibility for the disappearance of $6.2 million during Godwin Emefiele’s tenure, as the former governor faces EFCC charges
$6.2m CBN Cash Scandal: Senior Director Tells Court ‘I Accept Full Responsibility’ in Emefiele Trial
A Deputy Director in charge of Banking Supervision at the Central Bank of Nigeria (CBN), Malam Bashirudeen Maishanu, on Thursday accepted responsibility for the disappearance of $6.2 million from the apex bank during the tenure of former governor Godwin Ifeanyi Emefiele.
Maishanu made the admission while giving evidence before the High Court of the Federal Capital Territory, Maitama, in the ongoing procurement and financial misconduct trial of Emefiele.
He specifically told the court that he was personally answerable for the withdrawal of $2.5 million out of the total amount in question.
Emefiele is standing trial before Justice Hamza Muazu on an amended 20-count charge bordering on criminal breach of trust, forgery, abuse of office, conspiracy to obtain by false pretence, and obtaining money by false pretence while serving as CBN governor.
The former apex bank chief is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on behalf of the Federal Government in the case marked CR/577/2023.
According to the prosecution, Emefiele allegedly knowingly obtained $6,230,000 by false pretence, claiming the funds were meant for international election observers during the 2023 general election.
He was also accused of using his position to award six vehicle supply contracts worth ₦1.21 billion to April 1616 Investment Limited, a company allegedly linked to Sa’adatu Ramalan Yaro, a CBN staff member, between 2018 and 2022.
Emefiele has pleaded not guilty to all the charges.
While being cross-examined by defence counsel, Matthew Burkaa (SAN), Maishanu told the court that the loss of the money rests solely on him.
“I admitted to the Special Investigative Panel appointed by President Bola Tinubu to investigate CBN activities under Emefiele that I am answerable for the money being lost,” he said.
“The disappearance of the $6.2 million rests on me. I accept personal responsibility for a number of reasons. First, I was inadvertently involved. Second, Mr Eric (Emefiele’s PA) is nowhere to be found.”
Maishanu said he only realised the transaction was fraudulent after being confronted with documents showing that the signatures of former President Muhammadu Buhari and former SGF, Boss Mustapha, were forged.
He told the court that all instructions he acted upon came from Eric Ocheme, Emefiele’s personal assistant, stressing that he never met Emefiele nor gave him any money related to the transaction.
“I did not receive any instructions from him; all instructions I received were from Eric Ocheme,” he said.
Earlier, while being led in evidence by the prosecution counsel, Rotimi Oyedepo (SAN), the witness narrated how the transaction began in January 2023, when Ocheme allegedly sent an intermediary to him, claiming the withdrawal had presidential approval.
He said the cash was eventually withdrawn on February 8, 2023, from the CBN Garki branch in Abuja, after assurances that both presidential and gubernatorial approvals had been secured.
Maishanu testified that he later received $2.5 million, which he described as “outrageous.”
“It was outrageous because we never negotiated any payment. I thought it was a setup,” he told the court.
He admitted that he failed to formally report the ‘gift’ to the CBN but said he had refunded a substantial part of the money through the special investigator.
The witness further disclosed that the $6.2 million was never used for its intended purpose and that he was sanctioned by the CBN over the incident.
Justice Hamza Muazu adjourned further hearing in the matter until January 30.
