How $6.23m Was Withdrawn From CBN Using Forged Documents — Witness Testifies in Emefiele Trial

A senior official of the Central Bank of Nigeria (CBN) has testified before the Federal Capital Territory (FCT) High Court in Abuja that $6.23 million was withdrawn from the apex bank through the use of forged documents in the ongoing trial of former CBN governor, Godwin Emefiele.

The witness, Bashirudden Muhammed Maishanu, an assistant director at the CBN and the 11th prosecution witness (PW11), gave his account on Thursday while testifying before Justice Hamza Muazu in a case brought against Emefiele by the Economic and Financial Crimes Commission (EFCC).

Under examination by the EFCC’s Director of Public Prosecutions, Rotimi Oyedepo, Maishanu told the court that the cash was withdrawn from the Garki branch of the CBN on February 8, 2023.

He narrated that in January 2023, he was contacted by one Alhaji Ahmed, who claimed to be working with a special committee in the office of the Secretary to the Government of the Federation (SGF).

According to him, Ahmed said he was acting on the directive of Eric Ocheme, described as Emefiele’s personal assistant at the time, to liaise with him over certain transactions being processed at the bank.

Maishanu said Ahmed later informed him that presidential approval had allegedly been secured for the payment and that the final stage was to obtain Emefiele’s approval. He added that Ahmed insisted the funds should be released in cash and asked him to either accompany the payment or suggest someone who could do so.

READ ALSO: Court Admits Fresh Evidence in Emefiele’s $4.5b Fraud Trial

“I told him I could not go and suggested someone I knew,” the witness said.

He testified that on February 8, 2023, the money was paid out in cash at the Garki CBN branch. According to him, Ahmed allegedly left with $2.5 million, while another $2.5 million was left in the custody of himself and two other individuals.

“I saw the cash and thought it was outrageous because we never negotiated for any payment,” he told the court, adding that he advised his friends to keep the money, a suggestion they accepted.

Maishanu further stated that the $6.23 million was purportedly meant to fund election-related activities, including payments to election observers.

Explaining the bank’s internal control measures, the witness said disciplinary actions against staff range from warnings to dismissal, depending on the severity of the offence, and are determined by a disciplinary committee in accordance with the CBN’s human resource handbook. He added that he was not sanctioned by the CBN board in relation to the transaction.

During cross-examination by defence counsel, Matthew Burkaa, Maishanu admitted that he did not personally see the approval documents being signed. However, he maintained that the paperwork used for the withdrawal was fraudulent.

“I am sure because the CBN has rigorous processes for payment, especially for cash transactions of that value,” he said.

He also told the court that all officials involved in processing the withdrawal could be identified through internal records, noting that each stage of the transaction bears traceable signatures.

The witness admitted that he did not take part in monitoring the 2023 general elections and said he was initially unaware that the documents were forged. He later claimed to have seen the forged documents, accepted responsibility for his role in the transaction, and described the incident as a “set-up”.

Justice Muazu adjourned the case until January 30, 2026, for the continuation of trial.