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Former CBN Governor Emefiele Faces Charges Over Alleged $6.2M Fraud
Photo: Naija News
2026-07-04 08:47   Justice   10

Former CBN Governor Emefiele Faces Charges Over Alleged $6.2M Fraud

During the trial of former CBN Governor Godwin Emefiele, prosecution witness Jim Obazee testified that the alleged fraudulent withdrawal of $6.2 million from the Central Bank of Nigeria (CBN) caused a special dollar account to go into a negative balance of N2.858bn.Obazee, testifying as the 15th witness, stated the funds were released on February 3, 2023, without naira cover, violating CBN protocols.He claimed the transaction lacked proper documentation and that the money did not reach foreign election observers.The witness alleged internal control weaknesses at CBN, including a non-functional BVN portal and improper redeployment of staff.While part of the funds were recovered from Bashir Maishanu, Emefiele and others denied involvement.The case, which involves 20 charges including criminal breach of trust, was adjourned until October 20, 2026.Justice Muazu ruled Obazee could not authenticate signatures without forensic expertise.The trial highlights systemic issues in CBN's financial oversight and raises questions about accountability in high-level economic crimes.

Full reading at Naija News

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