An Economic Financial Crimes Commission witness on Wednesday told the court that the controversial N124.86 billion withdrawn from the Central Bank of Nigeria has not been traced to former CBN Governor, Godwin Emefiele.
The witness, Dr Ali Mohammed, a Director of Home Finance at the Federal Ministry of Finance, also disclosed that the withdrawal was not queried by either the Ministry of Finance or the Office of the Accountant-General of the Federation.
He disclosed this while under intense cross-examination by Emefiele’s lawyer, Olalekan Ojo, SAN, at the High Court of the Federal Capital Territory, Abuja.
He told Justice Maryanne Anenih that the N124.86 billion was neither traced to Emefiele’s personal account nor was the former CBN governor a signatory to the Federal Government’s Consolidated Revenue Account.
His testimony appeared to raise fresh questions over the circumstances surrounding the withdrawal and the extent of Emefiele’s alleged involvement in the transaction.
Asked whether the money was used on the directive of former President Muhammadu Buhari to subsidise the Hajj pilgrimage, Mohammed said he was not aware.
The witness further disclosed that although the EFCC invited him over the N124.86 billion transaction, he was not interrogated about the circumstances surrounding the withdrawal.
“I was not shown any document indicting the defendant,” the witness told the court, according to the evidence presented during cross-examination.
Mohammed said he was unaware of the public transactions that preceded the CBN’s withdrawal of the money from the Consolidated Revenue Account.
‘NO LETTER LINKED EMEFIELE TO WITHDRAWAL’
He was also taken through three letters originating from the Federal Ministry of Finance and the Office of the Accountant-General of the Federation.
According to him, none of the letters identified Emefiele as a signatory to the Consolidated Revenue Account.
He further testified that none of the letters indicated that Emefiele authorised the debit of the money from the Federal Government’s account.
Mohammed said the Ministry of Finance did not write to the CBN to demand an explanation for the purpose of the withdrawal, despite advice from the Accountant-General of the Federation.
He added that the ministry did not take any further action concerning the funds apart from informing the Special Investigator that it was unaware of the transaction.
The witness also told the court that he had no interaction with the Special Investigator who investigated the activities of the CBN under Emefiele.
WAYS AND MEANS: WITNESS ‘NOT AWARE’ OF BUHARI’S APPROVAL
Ojo also questioned the witness about the Federal Government’s use of the Ways and Means financing arrangement.
Mohammed told the court that he was not aware that former President Buhari obtained approval from the National Assembly for the use of Ways and Means between 2016 and 2023.
Justice Anenih adjourned the case until November 26, 2026, for continuation of trial.
Emefiele is being prosecuted by the EFCC on behalf of the Federal Government on a four-count charge bordering on alleged disobedience to the direction of law and illegal acts causing injury to the public.
The charge, marked FCT/HC/CR/264/2024, alleges that between October 19, 2022 and March 5, 2023, Emefiele approved the printing of 375,520,000 pieces of redesigned N1,000 notes at a total cost of N11,052,068,062 without the recommendation of the CBN Board and the required approval of the President.
The agency alleged that the action caused injury to the public and violated Section 123 of the Penal Code, Cap 89, Laws of the Federation, 1990.
Emefiele has pleaded not guilty to the charges.