Godwin Emefiele, the former Governor of the Central Bank of Nigeria (CBN), is currently on trial for alleged abuse of office and misappropriation of funds totaling $4.5 billion and N2.8 billion during his tenure as CBN governor. He is facing a 26-count charge alongside his co-defendant, Henry Isioma Omoile, in a trial presided over by Justice Rahman Oshodi.
On Tuesday, Mrs. Ifeoma Ogbonnaya, a Business Relationship Manager at Zenith Bank plc, testified in the Ikeja Special Offences Court in Lagos, revealing how Emefiele utilized his companies to secure various contracts from the apex bank. Ogbonnaya testified that she received instructions from Emefiele’s wife, Margaret Emefiele, to transfer funds from the CBN into their private companies’ Zenith Bank account, revealing a potential conflict of interest and abuse of power.
Ogbonnaya also revealed that she received instructions from two other individuals, John Ogah and the late Opeyemi Oludimu, who was an aide to Emefiele. She carried out transactions based on these instructions, which were received through various channels, including her official email, phone calls, and WhatsApp messages.
The companies that received funds from the CBN were Limelight Multidimensional Ltd, Come Support Services Ltd, Ambswin Resources Ltd, and Magofarm. Ogbonnaya emphasized that all transfer instructions to these accounts were directed by Margaret Emefiele, indicating her control over the financial transactions.
The trial has been adjourned until July 10 for further proceedings. Emefiele’s counsel, Olalekan Ojo (SAN), has also applied to recall the first prosecution witness, Monday Obaze, for further cross-examination, which was granted by Justice Oshodi.