Emefiele: Ministry did not approve withdrawal of N124.86bn by CBN- EFCC witness tells court

A witness from the Economic and Financial Crimes Commission (EFCC) testified in the Federal High Court of the Federal Capital Territory that the Nigerian Central Bank of Nigeria (CBN) under Godwin Emefiele did not receive approval from the Federal Ministry of Finance for a withdrawal of N124.86 billion from the Consolidated Revenue Account.

The witness, who is a director in the Federal Ministry of Finance, revealed that he received a letter from a Special Investigator appointed by President Bola Tinubu to investigate the CBN under Emefiele and the withdrawn funds. Upon receiving the letter, the witness convened an emergency meeting of three divisions within his unit, where the heads of each division denied any knowledge of the alleged withdrawal.

The witness subsequently penned a letter to the Accountant General of the Federation seeking clarification on the withdrawn funds. The Office of the Accountant General of the Federation also denied knowledge of the transaction, concluding that the CBN must have carried out the withdrawal of N124.86 billion. The findings of this investigation were communicated to the Special Investigation Unit in response to the witness's request.

The witness presented all correspondence from the Ministry of Finance and the Office of the Accountant General of the Federation, which were granted admission as exhibits by the court without objection from Emefiele's lawyer, Olalekan Ojo, SAN. The case is scheduled for further hearing on October 7, where the defense will cross-examine the witness.