Witness claims $6.23bn was moved from CBN to fund 2023 election observers

A witness of the Economic and Financial Crimes Commission (EFCC) on Monday told a Federal Capital Territory High Court in Maitama, Abuja, that about $6.23 billion was allegedly moved from the Central Bank of Nigeria (CBN) under the guise of financing foreign observers for the 2023 general elections.

The testimony was given before Justice Hamza Muazu in the ongoing trial involving Godwin Emefiele, former Governor of CBN, who is facing an amended 20-count charge bordering on criminal breach of trust, forgery, abuse of office, and conspiracy to obtain by false pretence.

The EFCC is prosecuting the case through its legal team led by Rotimi Oyedepo, a Senior Advocate of Nigeria.

The witness, Chinedu Eneanya, appeared as the 13th prosecution witness (PW13).

Eneanya, who said he was part of the investigative team assigned to the case, told the court that findings showed that a total of $6.23 billion was allegedly withdrawn from the CBN for the purported purpose of funding international election observers during the 2023 polls.

He further testified that several individuals linked to the movement of the funds were invited for questioning during the investigation, and that relevant authorisation documents were recovered from the CBN.

According to him, forensic examination of the documents allegedly revealed that the signatures of former President Muhammadu Buhari and Boss Mustapha, former Secretary to the Government of the Federation, were forged to facilitate the release of the funds.

The witness added that forensic analysis concluded that the signatures attributed to both officials were not genuine.

According to a statement by the EFCC, during cross-examination by Matthew Burkaa, defence counsel, Eneanya confirmed that five CBN officials who signed an internal memo related to the transaction had been suspended by the bank.

The defence also raised concerns over alleged delays in the prosecution’s case.

Earlier in the proceedings, Burkaa applied for the foreclosure of the prosecution’s case, arguing that the failure to present its remaining two witnesses at the next adjourned date suggested an attempt to frustrate the defendant.

Opposing the application, Oyedepo told the court that the prosecution was not deliberately delaying proceedings but was experiencing logistical challenges in securing the attendance of the remaining witnesses, who are reportedly based outside the court’s jurisdiction in Benin City and Lagos.

He urged the court not to shut out the prosecution from fully presenting its case.

Ruling on the submissions, Muazu advised both parties to reserve arguments on the application until the final address stage of the trial.

The judge also directed the prosecution to work with the court registrar to ensure subpoenas are issued to secure the attendance of the remaining witnesses.

The case was subsequently adjourned to Tuesday, April 28, 2026, for continuation of hearing.