Corruption Trial: Emefiele lawyer arrested with $2million cash
The Economic and Financial Crimes Commission (EFCC) has disclosed that a lawyer working for former Central Bank of Nigeria (CBN) Governor Godwin Emefiele was arrested with over $2 million cash.
Penpushing reports that the agent of the commission, David Jaiyeoba, made this known to the court, adding that it was discovered during investigation that the cash belonged to the embattled former Governor of the apex bank.
The agent appeared in court on Thursday as the 12th prosecution witness in the corruption trial of Emefiele, who faces 20 charges stemming from his activities as the Central Bank of Nigeria (CBN) Governor.
Penpushing further reports that it would be recalled that Emefiele was removed as the Governor of Central Bank of Nigeria (CBN) in June 2023 over corruption allegations after serving nine years in office.
The anti-crimes is prosecuting Emefiele on 20 amended counts, including criminal breach of trust, forgery, obtaining by false pretence, conspiracy to commit forgery, procurement fraud, and conspiracy to commit a felony.
Penpushing also reports that the charges include the alleged fraudulent payout of $6.23 million from the apex bank vault in Abuja in 2023 under the guise of payments for phoney foreign election observers’ expenses, but Emefiele vehemently denied all the charges.
The commission agent, since taking the stand as a prosecution witness last month, has repeatedly said Omeife confirmed that he regularly received cash from Emefiele, some of which was in foreign currency, specifically United States dollars.
Penpushing reports that he told the court that the funds were usually sent to him through Emefiele’s personal assistant, Eric Ocheme, adding that the funds were used to acquire properties and renovate some old assets for Emefiele.
The witness listed some of the properties in question to include detached duplexes at number 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos State; a bungalow and undeveloped land measuring 1919.592 square meter on Oyinkan Abayomi Drive, Ikoyi and a four-bedroom duplex at 12A Probyn Road, Ikoyi.
Penpushing further reports that others are an industrial complex under construction on 22 plots in Agbor, Delta State; eight units of undetached apartment on Adekunle Lawal Road, Ikoyi, Lagos State; and a detached duplex on Bank Road, Ikoyi, Lagos State.
The Economic and Financial Crimes Commission (EFCC) framed the cash used to acquire, renovate or develop the properties as proceeds of Emefiele’s corrupt activities while in office.
Penpushing also reports that the commission initially obtained a final forfeiture order against some properties linked to Emefiele, however, in June 2025, the Court of Appeal in Lagos overturned the forfeiture order and directed a fresh hearing by the lower court.
The prosecution lawyer, Rotimi Oyedepo a Senior Advocate of Nigeria (SAN) and the Director of Public Prosecutions (DPP), tendered Emefiele’s extrajudicial statement through the witness, while Emefiele’s lawyer, Matthew Burkaa, a Senior Advocate of Nigeria (SAN), reserved his objection.
Penpushing reports that the trial judge, Justice Hamza Muazu, admitted the statement, while the prosecution equally tendered a Zenith Bank account statement of Architekon Nigeria Limited.
The commission agent said Emeifele’s brother-in-law, MacCombo Omoile, confirmed the sum as proceeds of contracts executed for the apex bank, including the renovation of Emefilele residence in Lagos and NISAC officers across the country.
Penpushing further reports that thereafter, the prosecution team requested an adjournment, and the judge subsequently adjourned the case until March 16, 2026 for further hearing.
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