Witness narrates how Emefiele moved $6.23m from CBN coffers to fund foreign observers of 2023 election

A prosecution witness has told an Abuja court that $6.23 million was quietly removed from the Central Bank of Nigeria's vault and disguised as payment for foreign election observers during the 2023 general election, in what investigators now describe as an elaborate fraud orchestrated under the watch of former CBN Governor Godwin Emefiele.

EFCC Investigator Takes the Stand at Abuja High Court

Chinedu Eneanya, an assistant commander with the EFCC, took the witness stand on Monday, April 27, 2026, before Justice Hamza Muazu of the FCT High Court in Maitama, Abuja. He appeared as the 13th prosecution witness in what has become one of Nigeria's most closely watched financial crime trials.

Led in evidence by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), Eneanya told the court that forensic analysis indicated that the signatures of former President Muhammadu Buhari and former Secretary to the Government of the Federation, Boss Mustapha, were forged to facilitate the withdrawal.

How $6.23 Million Left the CBN Vault in a Single Day

A previous prosecution witness, Bashirudeen Maishanu, a CBN official, had earlier told the court that the $6.23 million was withdrawn in cash in a single day in February 2023 and tagged as payments to foreign election observers.

A Commissioner of Police, Eloho Ekpoziakpho, who testified as the 14th prosecution witness on April 28, 2026, told the court that the payment was dated January 26, 2023, via a letter forwarding the President's approval from the SGF for the CBN to pay $6.23 million to foreign election observers, and that the document was addressed directly to Emefiele in his capacity as CBN Governor.

"Our findings relating to that document showed that it was honoured. It was treated and the money was paid. We recovered the document from the CBN where the money was cashed," the witness told the court.

Forged Presidential Signatures at the Heart of the Allegation

The forgery angle is one of the most damning threads running through the entire case. Multiple witnesses have now independently pointed to the same conclusion.

Former SGF Boss Mustapha had testified on February 13, 2024, that former President Buhari's signature was forged to approve the cash withdrawal of $6.23 million from the CBN vault.

That testimony came a day after former CBN controller Onyeka Ogbu told the court that he received written approvals purportedly signed by Buhari, Mustapha, and Emefiele authorising the payment.

Forensic expert Bamaiyi Meriga also told the court in March 2024 that the documents used to process the withdrawal were forged.

So the documents were forged, the money moved, and yet the full chain of accountability remains hotly contested.

Defence Pokes Holes: No Forensic Test on Emefiele's Signature

Not everything in court went the prosecution's way. Defence counsel Matthew Burkaa (SAN) landed a significant blow during cross-examination.

Under cross-examination, Eneanya acknowledged that no forensic test was conducted on Emefiele's own signature. That admission creates a notable gap in the prosecution's paper trail.

Eneanya also confirmed that none of the five CBN officials who endorsed the internal memo authorising the transaction is currently standing trial. The bank suspended them.

That raises a pointed question: if the officials who signed off on the transaction face no criminal charges, who exactly bears legal responsibility for the funds?

Did Emefiele Personally Receive the Money?

When asked whether investigations showed that Emefiele personally received the funds, the witness said a lawyer, Ifeanyi Omeke, had claimed to have received money on behalf of the former CBN governor. However, the witness confirmed that Emefiele himself was not questioned on that allegation.

The Office of the Secretary to the Government of the Federation also denied requesting any funds for foreign election observers, according to the police witness who testified on April 28.

Emefiele has denied every single charge from the beginning, and his legal team continues to press hard on the gaps in the prosecution's case.

Prosecution Stumbles as Trial Faces Delay Risk

The prosecution did not call additional witnesses after Eneanya's discharge, citing uncertainty about their availability. Oyedepo explained that subpoenas had not yet been obtained and that the remaining witnesses, Jim Obessa and Eloho Okpozikbo, a commissioner of police, were outside the court's jurisdiction, based in Benin and Lagos.

The defence counsel applied for the foreclosure of the prosecution's case should it fail to present its remaining witnesses, alleging a pattern of delay aimed at frustrating the defendant.

Justice Muazu advised both parties to reserve their arguments on the foreclosure application until the stage of final addresses, and directed the prosecution to liaise with the court registrar to facilitate the issuance of subpoenas.

What Emefiele Faces: A 20-Count Criminal Charge

It is worth stepping back to see the full picture of what is at stake for the former apex bank chief.

Emefiele is standing trial on a 20-count amended charge of criminal breach of trust, forgery, obtaining by false pretence, procurement fraud, and conspiracy. He has denied all charges.

At the centre of the case is the alleged payment of $6.23 million from the CBN vault in 2023 for what the commission described as a "phoney" election observer exercise.

The trial now stands at a pivotal crossroads. With 14 prosecution witnesses heard, two key witnesses still to appear, and the defence pushing for the case to be shut down, the next court date will be defining.