EFCC Links Godwin Emefiele to Multi-Billion Naira Properties

An investigator from the Economic and Financial Crimes Commission (EFCC) testified in a Lagos State Special Offences Court regarding former Central Bank of Nigeria (CBN) Governor Godwin Emefiele's alleged acquisition of multi-billion naira properties through proxies. The witness, Alvan Gurumnaan, stated that the properties, located in Lagos, Ogun, Delta, and Abuja, far exceeded Emefiele's lawful earnings as CBN governor.

Over $2 million in cash was found in the office of lawyer Ifeanyi Omeke, who allegedly acted as a proxy for Emefiele. Gurumnaan claimed that companies seeking foreign exchange faced difficulties unless they made special arrangements, with one firm reportedly paying millions to Emefiele through his aide, Monday Osazuwa, and co-defendant Henry Omoile.

The properties linked to Emefiele included luxury duplexes and flats in Ikoyi, a factory in Delta, and a housing estate in Abuja. The trial continues on November 13, 2026, with Emefiele facing 19 counts of alleged gratification and abuse of office involving $4.5 billion and N2.8 billion.