Alleged corruption: EFCC witness details wow Emefiele allegedly received $17.1 million in cash

An Economic and Financial Crimes Commission (EFCC) official has told the Lagos State Special Offences Court how former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, allegedly received $17.1 million in cash through a proxy over a three-year period.

Testifying as the EFCC’s eighth prosecution witness, Alvan Gurumnaan, who led the Commission’s Special Operations Team, made the revelations during proceedings before Justice Rahman Oshodi in Ikeja on Tuesday, May 27, 2025.

Emefiele and his co-defendant, Henry Omoile, are facing a 19-count charge bordering on alleged corrupt practices and illegal gratification totaling $4.5 billion and ₦2.8 billion (approximately $1.75 million at current exchange rates).

Led in evidence by EFCC counsel and Senior Advocate of Nigeria, Rotimi Oyedepo, Gurumnaan testified that the cash payments were allegedly made between September 2020 and June 2, 2023. He said the funds were handed to Omoile, who then either delivered them to Emefiele directly or passed them on through intermediaries.

According to the EFCC official, the investigation began while Emefiele was still in office following credible intelligence reports.

The agency wrote to various bodies, including the CBN, the Code of Conduct Bureau, Corporate Affairs Commission, commercial banks, and the FMDQ, requesting documents and summoning officials for questioning.

Gurumnaan stated that several CBN departments were involved, including Trade and Exchange, Currency Operations, Banking Supervision, Legal, and Human Resources. He confirmed that some bank officials were detained during the investigation and later released on bail.

He also revealed that multiple CBN staff members who worked closely with Emefiele were interviewed, including Monday Osazuwa, John Adetola, and John Ogar.

One key individual, Eric Odoh—identified as Emefiele’s personal assistant—allegedly fled the country and remains on the EFCC watchlist.

Interpol has been alerted via a red notice. “Efforts to bring in Eric Odoh were unsuccessful. Intelligence suggested he fled Nigeria, with possible sightings in Canada and the Dominican Republic,” Gurumnaan added.

He further testified that Osazuwa, a longtime associate of Emefiele from their days at Zenith Bank, told investigators he regularly ran personal errands for Emefiele—some of which involved large cash transfers. Osazuwa allegedly acted on Emefiele’s instruction to liaise with a contact in London, who directed him to a businessman based in Victoria Island, Lagos.

This businessman reportedly handed over $17.1 million in total, which Osazuwa passed to Omoile, often on Fridays when Emefiele operated from his Lagos office.

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The EFCC tendered several documents in court as evidence to support these claims.

Meanwhile, Emefiele’s legal team, led by Senior Advocate of Nigeria Olalekan Ojo, requested permission to conduct a forensic examination of the tendered documents.

Ojo informed the court that the defendant would either personally inspect the evidence or engage a forensic expert to do so under court supervision.

However, the EFCC objected to the oral request and urged the court to insist on a formal application.

Counsel for Omoile, Yinka Kotoye (SAN), noted that the defence had previously asked for access to the documents but had not received them.

Justice Rahman Oshodi ruled that the defence must file a formal application to examine the exhibits.

He then adjourned the matter until October 7, 8, and 9, 2025, following the court’s annual vacation, for the continuation of the witness testimony.