Emefiele’s Trial: Witness Takes Responsibility for $2.5m Illegal Withdrawal from CBN

The ongoing trial of former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, took a dramatic turn on Thursday as a prosecution witness admitted responsibility for the alleged $2.5 million illegal withdrawal from the apex bank.

Testifying before the court, the witness told the judge that the controversial cash withdrawal was carried out on his instruction, insisting that Emefiele neither authorised nor personally benefited from the transaction.

According to the witness, the funds were withdrawn under circumstances he described as “operational decisions,” adding that he acted independently and without direct approval from the former CBN governor.

The admission came during cross-examination by Emefiele’s defence counsel, who pressed the witness on documents and approvals linked to the transaction. The witness maintained that he alone should be held accountable for the withdrawal, stating that Emefiele was not involved in the execution of the deal.

Emefiele is standing trial on multiple counts bordering on abuse of office, financial impropriety and corruption, including allegations related to foreign exchange transactions and cash withdrawals during his tenure as CBN governor.

The prosecution, led by counsel to the Economic and Financial Crimes Commission (EFCC), is expected to continue presenting witnesses as the court seeks to establish the extent of responsibility in the alleged financial misconduct.

The trial has been adjourned to a later date for continuation of proceedings.