Obazee: Buhari, Boss Mustapha, CBN board should have faced trial over $6.2m CBN withdrawal

A PROSECUTION witness for the Economic and Financial Crimes Commission (EFCC), Mr Jim Obazee, has told the Federal Capital Territory High Court that former President Muhammadu Buhari and former Secretary to the Government of the Federation, Boss Mustapha, should have been prosecuted over the alleged fraudulent withdrawal of $6.23 million from the Central Bank of Nigeria (CBN).

Obazee made the remarks on Friday while testifying before Justice Hamza Muazu in the ongoing trial of former CBN Governor Godwin Emefiele. He is appearing as a witness for the EFCC, which is prosecuting Emefiele on an amended 20-count charge bordering on conspiracy, criminal breach of trust, forgery, obtaining by false pretence and conferring corrupt advantages.

Appointed by President Bola Tinubu in July 2023 as special investigator to examine the activities of the CBN and related entities, Obazee told the court that the $6.23 million was allegedly withdrawn from the CBN’s Abuja branch under the guise of funding a foreign election observer mission during the 2023 general election.

READ ALSO: Emefiele trial: $6.2m withdrawal pushed CBN account into deficit

According to the witness, the funds were allegedly handed over to suspected criminals after being withdrawn. He added that the special investigation panel recovered $856,500 from Bashirudeen Maishanu, a CBN staff member, and argued that Maishanu should also face prosecution alongside Emefiele.

Obazee maintained that Buhari, Mustapha, Maishanu and former members of the CBN board should all have been charged in connection with the alleged fraud.

“For actions and inactions, Mr Buhari ought to be charged and must be charged along with Emefiele in this $6.2 million fraud, even if posthumously, since national honours are given posthumously,” Obazee said, according to Premium Times.

He further described it as unfortunate that Emefiele was the only person standing trial despite his claim that more than 10 individuals were involved in the alleged fraud. He argued that the same prosecutorial action taken against the former CBN governor should also have been extended to Buhari, Mustapha, Maishanu and former CBN board members.

Mustapha, who testified as a prosecution witness in February 2024, had denied that Buhari authorised the release of the $6.23 million.

Following Friday’s proceedings, Justice Muazu adjourned the matter until October 20, 2026, for the adoption of final written addresses. The defence also informed the court of its intention to file a no-case submission on behalf of Emefiele.