THE trial of former Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, took a dramatic turn on Thursday as a senior bank official told a Federal Capital Territory (FCT) High Court that more than $6 million was removed from the apex bank through forged payment approvals.

Testifying before Justice Hamza Muazu in Abuja, an Assistant Director at the CBN, Mr Bashirudden Maishanu, said the transaction bypassed the bank’s strict internal controls and ended in a cash payout of $6.23 million from the Garki branch on February 8, 2023.

Mr Maishanu, the 11th prosecution witness called by the Economic and Financial Crimes Commission (EFCC), said the deal began weeks earlier when he was contacted by a man named Alhaji Ahmed. According to him, Ahmed claimed to be part of a special committee in the office of the Secretary to the Government of the Federation (SGF) and said he was acting on instructions from Eric Ocheme, described as Emefiele’s personal assistant at the time.

The witness told the court that Ahmed said the funds had presidential backing and only required clearance from the former CBN governor to proceed. He added that Ahmed insisted the money be released in cash and asked him to either escort the funds or find someone who would.

READ ALSO: Emefiele trial: Witness recounts secret cash release of $6.23m from CBN

“I declined and recommended someone else,” Mr Maishanu said. He stated that when the money was eventually paid out, Ahmed allegedly left the bank with $2.5 million, while another $2.5 million was kept with him and two others.

“I was shocked when I saw the cash because there was no prior agreement for any payment,” he said, adding that he advised the others to hold on to the money, which they did.

Mr Maishanu further told the court that the money was said to be for election-related expenses, including the payment of election observers during the 2023 polls.

Explaining how the CBN handled staff misconduct, the witness said sanctions depended on the seriousness of the offence and ranged from warnings to dismissal, based on recommendations from a disciplinary committee guided by the bank’s human resources rules. He noted that no disciplinary action had been taken against him by the CBN board over the incident.

During cross-examination by defence lawyer, Mr Matthew Burkaa, Mr Maishanu admitted he did not personally witness any signed approvals but insisted the documents were fake. He said the bank’s layered procedures for large cash withdrawals made it impossible for such a transaction to occur lawfully.

He added that internal records at the CBN made it possible to trace every official involved in the process through their signatures.

Mr Maishanu also said he did not take part in election monitoring and only later realised that the documents linked to the withdrawal were forged. He accepted responsibility for his role in the matter and described the entire episode as a ‘set-up.’

Mr Emefiele is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on charges bordering on criminal breach of trust, conspiracy, forgery, and unlawful possession of property suspected to be proceeds of crime running into billions of naira.

READ ALSO: Flashback: Emefiele once ridiculed CBN by challenging AbokiFX to public fight

Emefiele is facing trial for allegedly using his privileged position to unlawfully acquire properties and control large sums of money suspected to be proceeds of unlawful activity.

Wikipedia describes Mr Emefiele as a Nigerian politician, sparking reactions from public commentators, as exclusively reported by Economy Post.

In late 2022, Mr Emefiele had announced that the redesign of N200, N500 and N1000 notes, stating that the pre-exisiting notes would cease to be legal tenders in late January, 2023. Efforts by Nigerians to persuade him and his principal, Mr Muhammadu Buhari, to stop the ill-timed policy proved abortive until the Supreme Court nullified the exercise on March 3, 2023.