Godwin Emefiele
By Victory Oghene
A prosecution witness has revealed how $6 23million was withdrawn from the coffers of the Central Bank of Nigeria with forged documents in the trial of the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
The witness on Thursday disclosed this to the Federal Capital Territory High Court, Abuja.
The witness, Bashirudden Muhammed Maishanu, an Assistant Director at the CBN and the Eleventh Prosecution Witness (PW11) in the ongoing trial of Emefiele gave the account while testifying before Justice Hamza Muazu.
Maishanu told the court that the $6,230,000 was withdrawn from the Garki branch of the apex bank on February 8, 2023, purportedly for election observers and logistics, but through documents he later discovered to be forged.
Led in evidence by the prosecution counsel and Director of Public Prosecutions, Rotimi Oyedepo (SAN), the witness said he first knew Emefiele in 2015 through one Eric, who served as the former CBN governor’s personal assistant.
According to Maishanu, in early January 2023, he was approached by a man identified as Alhaji Ahmed, who claimed to be working with a Special Committee in the Office of the Secretary to the Government of the Federation (SGF).
“He introduced himself and said Mr Eric, the P.A., asked him to see me about some transactions they were processing in CBN,” the witness said.
Maishanu told the court that he requested Ahmed’s identification and also insisted on confirming his claims directly from Eric, who allegedly confirmed knowing Ahmed and asking him to see the witness.
Ahmed, he said, later informed him that they were processing a payment from the CBN allegedly based on presidential approval for election-related expenses.
“I asked Ahmed what role I was to play because I was not working in the branch where the payment is made. He said it was too early and that once they obtained the government approval, he would let me know,” Maishanu testified.
About a week later, the witness said Ahmed returned and claimed that presidential approval had been secured, showing him a copy of the approval.
Maishanu further told the court Ahmed told him that they would now seek approval from Emefiele and requested that the payment be made in cash.
The witness said he declined to personally participate in the transaction but recommended a friend to accompany Ahmed.
Testifying further, Maishanu said that on February 8, 2023, his friend and a driver went to the Garki Branch of the CBN and withdrew the $6.23 million in cash.
“Afterward, they dropped my friend off at a location inside the estate called the 09 ClubHouse on Ibrahim Coomasie Crescent.
“My friend called me and said they had cashed the money and that Mr Ahmed had left with $2.5 million in cash with his friends,” he said.
Maishanu told the court that the remaining cash was left with his friends and that he expressed shock at the volume of money involved.
“I saw the cash and told them that I thought it was outrageous because we never negotiated for any payment with the said Alhaji Ahmed. I suggested that we keep the money, and they agreed,” he stated.
When asked about internal disciplinary measures at the CBN, the witness explained that sanctions for erring officials range from warnings to dismissal, depending on the severity of the offence, as provided in the bank’s human resource handbook.
He added that disciplinary actions are preceded by investigations and hearings conducted by a disciplinary committee, which makes recommendations to management.
He, however, disclosed that he did not face any disciplinary action from the CBN board over the matter.
Maishanu further told the court that while he did not personally see approvals on some exhibits tendered, approvals were reflected in several documents admitted as evidence.
He added that approvals for such payments are the responsibility of the CBN governor or the Committee of Governors, which is chaired by the governor.
Maishanu confirmed under examination that the $6.23 million was meant to cover election-related expenses, specifically for “expenses on election overseers.”
During cross-examination by defence counsel, Mathew Burkar (SAN), the witness admitted that he did not personally witness the signing of the approval documents and could not identify who approved the payment.
However, he insisted that the withdrawal trail could be traced through internal CBN documents bearing the signatures of all officials involved.
Asked whether he merely assumed the approval was fraudulent, Maishanu replied, “I not only assume. I am sure because I know that the CBN has rigorous processes for payment, not just cash payment but online payments.
“It is unlikely that documents of that value could slip through the system without being forged.”
On the $2.5 million allegedly left behind, the witness admitted that the money was meant for him and two others but insisted it was not his personal share.
“It was the share of the three of us,” he said.
He also confessed that he did not play any role in monitoring the 2023 general elections and that at the time the money was received, he did not immediately know it was fraudulent.
“I couldn’t conclude that it was fraudulent because documents had been passed and paid for a specific purpose. What made me suspicious was the volume of money they left with my friends,” he added.
Maishanu further told the court that he later met one Mr Obazi, who showed him the forged documents.
He said he accepted responsibility after realising the gravity of the situation.
“I had become involved, and Mr Eric was nowhere to be seen. I was worried about the damage it would do to myself.
“Until that point, I had no idea it was a fraud,” he testified, insisting that the money was not a gift but part of a set-up.
Justice Muazu adjourned the case until Friday, January 30, 2026, for the continuation of trial.
