Ex-CBN Governor Emefiele Used Lawyers As Proxies To Acquire Properties, Built 750-House Estate With Illicit Funds – EFCC Tells Court
Ex-CBN Governor Emefiele Used Lawyers As Proxies To Acquire Properties, Built 750-House Estate With Illicit Funds – EFCC Tells Court
The former CBN governor faces a 19-count charge, while Omoile is facing a separate three-count charge bordering on the alleged unlawful acceptance of gifts.
A witness of the Economic and Financial Crimes Commission (EFCC) has told an Ikeja Special Offences Court how former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, allegedly used associates, aides and a lawyer as proxies to acquire multi-billion-naira properties while in office.Nigerian news analysis
The EFCC investigator, Alvan Gurumnaan, told the court on Thursday that investigations revealed that Emefiele acquired several properties, including two mansions in Ikoyi, Lagos, twin duplexes in Lekki Phase 1, an 11-storey building containing about 94 luxury flats and an estate of approximately 750 houses in Abuja.
Emefiele is standing trial alongside his co-defendant, Henry Omoile, over allegations of gratification, corrupt demands and abuse of office involving transactions valued at $4.5 billion and ₦2.8 billion.
The former CBN governor faces a 19-count charge, while Omoile is facing a separate three-count charge bordering on the alleged unlawful acceptance of gifts.
Gurumnaan, who testified as the prosecution’s second witness, disclosed this while giving evidence during the continuation of the trial led by the Federal Director of Public Prosecutions, Rotimi Oyedepo (SAN).
The investigator said Emefiele’s statement was recorded during an intelligence-led investigation conducted by a special operations team he headed.
He told the court that the investigation revealed that Emefiele allegedly used his position as CBN governor to create a system that made it difficult for ordinary Nigerians and businesses to access foreign exchange, forcing some applicants to enter into special arrangements before obtaining the funds.Nigerian news analysis
According to the witness, some companies allegedly paid millions of dollars through intermediaries connected to the former CBN governor.
He cited the case of a company which allegedly paid about $17 million through Emefiele’s staff member, Monday Osazuwa.
“One of those examples was how a company had to pay millions of dollars to the first defendant through his staff, Monday Osazuwa.
“Osazuwa admitted to us in the course of investigation that he received about 17 million US dollars from the company and gave it to the second defendant sometime.
“The second defendant was the one who later took the money to the first defendant,” Gurumnaan told the court.
The witness also mentioned Source Computer, alleging that the company’s managing director was compelled to pay money to Emefiele before his contract fees were released.
Gurumnaan further told the court that investigations linked Emefiele to several properties allegedly acquired through associates whose financial transactions were beyond the former CBN governor’s legitimate earnings.
He said the EFCC had secured court orders forfeiting assets and properties estimated to be worth hundreds of billions of naira.
The investigator identified a lawyer, Ifeanyin Omeke, as one of the alleged fronts used by Emefiele to acquire properties and handle financial transactions.
According to him, investigators recovered more than $2 million in cash from Omeke’s office during the investigation.
He said Omeke, who also served as secretary to several companies, admitted to acting as a front for the former CBN governor.
Gurumnaan listed some of the recovered properties as twin duplexes in Lekki Phase 1 and two mansions on Queens Drive, Ikoyi, Lagos.
The witness further alleged that Emefiele acquired other properties through proxies, including a factory under construction in his hometown of Agbor, Delta State, which he said had also been forfeited to the Federal Government.
He also told the court about a property on Adekunle Lawal Street, Ikoyi, which allegedly belonged to the Nigerian Printing and Minting Company.
Gurumnaan alleged that Emefiele, who served as chairman of the company’s board, sold the property to himself.
The property, described as a block of eight flats in Ikoyi, was also said to have been forfeited to the Federal Government.
The investigator added that another warehouse linked to the former CBN governor was recovered in Ogun State, on the outskirts of Lagos.
He said the warehouse contained several containers worth hundreds of billions of naira, while an 11-storey building under construction, comprising about 94 luxury flats, was also linked to Emefiele.
The witness further disclosed that an estate containing approximately 750 houses in the Lokogoma district of Abuja was allegedly linked to the former CBN governor and recovered by the commission.
During the proceedings, Emefiele’s lead counsel, Ojo Olalekan (SAN), and Omoile’s counsel, Kazeem Gbadamosi, objected to the testimony, arguing that the evidence concerning the properties was not relevant to the charges before the court.
However, Justice Rahman Oshodi overruled the objection, holding that the defendants would have the opportunity to challenge the witness’s testimony during cross-examination.
Gurumnaan subsequently told the court that Emefiele was given an opportunity to respond to some of the investigative findings when his statement was recorded but allegedly failed to address the allegations.
The witness maintained that investigations uncovered several other properties allegedly purchased through proxies.
The trial was adjourned until November 13 for continuation of proceedings.
