The legal battle involving former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has taken a new turn following the presentation of fresh evidence by the Economic and Financial Crimes Commission (EFCC) at the Federal Capital Territory High Court in Abuja.
An EFCC operative and the 12th prosecution witness, David Jaiyeoba, told the court that the commission’s investigation uncovered bank records and internal documents allegedly linking Emefiele to $2.045 million and several property-related transactions.
Led in evidence by the Director of Public Prosecutions, Rotimi Oyedepo (SAN), Jaiyeoba explained that the investigation relied on approvals, bank statements, and internal memoranda obtained from the CBN and Zenith Bank.
According to the witness, multiple CBN documents showed approvals for payments covering renovation works, landscaping, power supply installations, and furnishing of Emefiele’s official residence in Ikoyi, Lagos. He identified several exhibits, including internal memoranda authorising payments to Architeco Nigeria Limited for renovation and landscaping services, all of which he said carried Emefiele’s approval.
Jaiyeoba further presented documents relating to the supply of office furniture to the CBN, including a memo approving a payment of over ₦97 million to the same company. Another exhibit detailed approval for a contract involving dedicated power lines to the Ikoyi residence.
The EFCC witness also disclosed that the commission contacted Zenith Bank during the investigation and received responses tracing transactions linked to Emefiele’s account. He cited a debit entry dated January 13, 2015, showing a ₦4 million payment to Architeco Nigeria Limited.
He told the court that the EFCC recovered $2.045 million, as well as property documents and title deeds, from Zenith Bank’s headquarters in Lagos. The items were reportedly found in the possession of a lawyer, Collins Omeke, who was said to be acting on Emefiele’s behalf.
According to Jaiyeoba, Omeke informed investigators that he had acquired and processed property documents at Emefiele’s instruction, with purchases allegedly funded through cash payments in U.S. dollars. He added that some of the recovered funds were said to have been used for renovations on properties linked to the former CBN governor.
At the conclusion of the testimony, the prosecution requested an adjournment to March 5, 16, and 17, 2026, to continue the trial. Defence counsel, Matthew Burkaa (SAN), did not oppose the request but cautioned against repetitive evidence.
Presiding judge, Justice Hamza Muazu, allowed the adjournment but advised the prosecution to streamline its case. The matter was subsequently adjourned to the requested dates.
Emefiele, who served as CBN governor from 2014 to 2023, is currently facing a 20-count charge bordering on alleged procurement fraud involving about ₦1.2 billion.
