Emefiele Trial: Finance Ministry Was Unaware of N124.86bn CBN Withdrawal, Witness Tells Court

The ongoing trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, took another significant turn at the Federal Capital Territory (FCT) High Court in Maitama, Abuja.

A senior official from the Federal Ministry of Finance testified that the ministry had no record or knowledge of a massive N124.86 billion withdrawal made from the apex bank under Emefiele’s leadership.

Ali Mohammed, a Director in the Ministry of Finance testifying as a prosecution witness, told the court presided over by Justice Maryann Anineh that standard financial procedures were bypassed during the transaction.

Finance Ministry and Accountant-General Kept in the Dark

During his testimony, Mohammed explained that under established public finance guidelines, any withdrawal or debit from the Consolidated Revenue Fund (CRF) requires formal notification and approval involving the Office of the Accountant-General of the Federation (OAGF) and the Ministry of Finance.

However, when presented with internal records and official correspondence regarding the N124.86 billion transaction, the witness confirmed that neither department was notified or gave authorization.


During the proceedings, Mohammed confirmed that the Ministry of Finance never received any official request, executive memorandum, or supporting documentation either before or after the funds were moved. Supporting this position, the court admitted official correspondence from the Office of the Accountant-General of the Federation, which similarly verified that the OAGF possessed no prior record or knowledge of the N124.86 billion transaction.

To further substantiate these claims, the prosecution tendered internal electronic mail communications from the Central Bank of Nigeria that directed the recovery and debiting of funds from the receivables account without seeking clearance from external oversight bodies. Defense counsel raised no objections to the admissibility of the electronic communications or the accompanying compliance certificates, leading Justice Anineh to admit the documents into evidence as exhibits.

Legal Context of the Ongoing Prosecution

Godwin Emefiele is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on a multi-count charge bordering on alleged breach of trust, unlawful acts, and failure to comply with statutory directives during his tenure as CBN governor, particularly surrounding the controversial 2022-2023 naira redesign implementation.

The court adjourned proceedings for cross-examination of witnesses and continuation of the trial.

Frequently Asked Questions (FAQs)

What is Godwin Emefiele being tried for in this specific court case?

Godwin Emefiele is facing charges brought by the EFCC regarding alleged abuse of office, unauthorized financial transactions, and non-compliance with statutory procedures during his tenure as Central Bank Governor.

Why is the N124.86 billion withdrawal significant in court?

The testimony indicates that public funds were moved without the statutory knowledge or authorization of the Federal Ministry of Finance and the Office of the Accountant-General of the Federation, violating established public accounting regulations.

Has Godwin Emefiele been convicted?

No. The trial is ongoing at the FCT High Court in Maitama, Abuja, where the prosecution is presenting its witnesses and documentary evidence.