Emefiele trial: Witness tells court how $6.23m was withdrawn from CBN using forged documents

An Assistant Director of the Central Bank of Nigeria (CBN), Bashirudden Muhammed Maishanu, on Thursday told the Federal Capital Territory High Court, Abuja, how $6.23 million was allegedly withdrawn from the apex bank through forged documents during the tenure of former CBN Governor, Godwin Emefiele.

Maishanu, the 11th prosecution witness in the ongoing trial, testified before Justice Hamza Muazu that the cash was withdrawn on February 8, 2023, from the CBN’s Garki branch under the guise of funding election observers and logistics.

Led in evidence by the Director of Public Prosecution, Rotimi Oyedepo, SAN, the witness said he was contacted in January 2023 by one Alhaji Ahmed, who claimed to be working with a special committee under the Office of the Secretary to the Government of the Federation (SGF). Ahmed allegedly told him that a payment was being processed on the authority of the President.

Maishanu said he initially demanded identification and confirmation from Eric, who was then the personal assistant to Emefiele, before engaging further. According to him, Ahmed later returned with documents purportedly showing presidential approval and informed him that approval from the CBN governor would also be obtained.

The witness told the court that Ahmed requested the payment to be made in cash and asked him to either accompany them or recommend someone. He said he declined but introduced a friend, who later went to the Garki branch with his driver and withdrew the $6.23 million.

He further testified that after the withdrawal, Ahmed allegedly left with $2.5 million in cash, while another $2.5 million was left behind with his friends. Maishanu said he found the amount suspicious and described the entire transaction as “outrageous,” adding that no payment had been negotiated with Ahmed.

Maishanu stated that the money was meant to cover election-related expenses, particularly for election overseers. However, he insisted that the approval documents used for the withdrawal were forged, stressing that the CBN has strict procedures for cash and electronic payments, especially for such large sums.

During cross-examination by defence counsel, Mathew Burkar, SAN, the witness admitted he did not personally see who signed the approval but maintained that the withdrawal could be traced through internal CBN documentation bearing the signatures of all officials involved.

He also told the court that he did not face any disciplinary action from the CBN over the matter and that he only became aware of the fraud after being shown forged documents by an official, Mr Obazi. He said he later accepted responsibility due to his involvement and concern about reputational damage.

Justice Muazu adjourned the case until Friday, January 30, 2026, for the continuation of trial.