$6.2M Emefiele Fund Release Called Pure Theft in Court

During the trial of former Central Bank of Nigeria (CBN) governor Godwin Emefiele at the Federal Capital Territory High Court in Abuja on Thursday, October 14, a witness, Eloho Okpoziakpo, stated that the $6.2 million released for a foreign election observer mission was pure theft. The prosecution, led by Rotimi Oyedepo, SAN, argued that the entire amount was released under false pretenses, with no legitimate purpose attached.

Evidence presented included a memo indicating that the funds were misappropriated, and an investigation team reportedly recovered $800,000 of the allegedly stolen funds. The defense counsel, Mathew Burka, questioned whether due process was followed in the fund's release, to which the witness responded negatively, citing a lack of proper documentation.

The trial was adjourned until July 3, 2026, for further proceedings.