Latest news with #GodwinEmefiele
Zawya
28-05-2025
- Business
- Zawya
Nigeria: $17.1mln was delivered in cash to Emefiele through his aide — Witness
A witness for the Economic and Financial Crimes Commission (EFCC), on Tuesday alleged that $17.1 million was delivered in cash to the former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele through one of his close aides over a three-year span. Testifying before Justice Rahman Oshodi of the Lagos Special Offences Court, an investigator with the EFCC, Assistant Commandant Alvan Gurumnaan, said the funds were handed over to Mr Monday Osazuwa, who delivered the said sum to Emefiele at his Ikoyi, Lagos residence. Gurumnaan further disclosed that the money was received in batches between September 2020 and June 2023 from a businessman at a Victoria Island address. He added that part of the cash was also delivered to Emefiele's co-defendant, Henry Omoile, on the former governor's instruction. 'The total money given was $17,100,000. Mr Osazuwa collected these sums in various tranches and delivered them to Mr Godwin Emefiele,' Gurumnaan stated. According to the investigator, the discovery emerged during a sweeping investigation into alleged procurement fraud and abuse of office under Emefiele's leadership at the apex bank. The EFCC probe, launched after receiving intelligence, involved document requests and interviews with key CBN departments such as Financial Markets, Legal, Currency Operations, Banking Supervision, Human Resources, and Trade and Exchange. Gurumnaan also mentioned Eric Odoh, Emefiele's former personal assistant, as a significant figure in the investigation. However, efforts to interrogate him have so far failed, he added. 'He absconded and was traced to the UK, Canada, and other countries, but we have not been able to locate him,' he said. Another witness, Mr John Adetola, who served as Emefiele's executive assistant, told the court he once received $400,000 on behalf of the ex-CBN boss in 2018 from one Mr John Ayoh, following WhatsApp instructions from Odoh. During cross-examination by defence counsel Olalekan Ojo (SAN), Adetola admitted there were no documents or saved messages to support the claim. He also confirmed that he was neither under prosecution nor promised immunity in exchange for his cooperation. Adetola further revealed he spent 11 days in EFCC custody but was never confronted with either Emefiele or Ayoh. Emefiele and Omoile are facing a 26-count charge bordering on abuse of office and fraudulent transactions amounting to $4.5 billion and N2.8 billion. The case was adjourned to October 7, 8, and 9, 2025, for continuation of trial. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
21-05-2025
- Business
- Zawya
Nigeria: FG to sell 753 housing-unit estate linked to Emefiele
The Executive Chairman, Economic and Financial Crimes Commission (EFCC), Mr Ola Olukoyede, on Tuesday formally handed over the forfeited Abuja estate, containing 753 duplexes and other apartments, allegedly belonging to the embattled former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to the Federal Ministry of Housing and Urban Development. This was disclosed by the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, in a tweet on his X (formerly Twitter) handle, yesterday. Though the details of the handover were sketchy as of the time of filing this report, the minister tweeted that it was in line with the directive of President Ahmed Bola Tinubu. 'Finally, the housing units will be offered for sale through a transparent and competitive process, which will be widely advertised and managed via the Renewed Hope Portal,' the minister tweeted. Dangiwa further tweeted that the ministry, in collaboration with EFCC, would show that the fight against corruption can deliver real benefits to Nigerians. He added that the duplexes be completed and made available to the Nigerian public through a transparent and accountable process. According to Dangiwa, the formal handing over of the uncompleted duplexes marked a significant milestone in government's effort to ensure that recovered assets were not left to waste, but transformed into productive infrastructure that directly benefited Nigerians. 'Today, I had the honour of hosting the hardworking Chairman of the EFCC, @officialEFCC, Mr. Olanipekun Olukoyede, as he officially handed over 753 duplexes and other apartments located in the Cadastral Zone of the Federal Capital Territory, seized from the former Governor of the Central Bank of Nigeria, to the Federal Ministry of Housing and Urban Development. 'This handover is in line with the directive of His Excellency, President Bola Ahmed Tinubu, GCFR, that the recovered estate be completed and made available to the Nigerian public through a transparent and accountable process. 'It marks a significant milestone in government's effort to ensure that recovered assets are not left to waste, but are transformed into productive infrastructure that directly benefits Nigerians. 'As a next step, we will conduct a comprehensive integrity and structural assessment of all buildings and associated infrastructure to ensure safety and suitability for habitation. 'We will also complete all outstanding infrastructure, including roads, drainage systems, and other essential amenities, to make the estate fully functional. 'Additionally, a standardized housing design framework will be developed to ensure architectural uniformity and provide guidance to prospective allottees. 'Finally, the housing units will be offered for sale through a transparent and competitive process, which will be widely advertised and managed via the Renewed Hope Portal,' the minister tweeted. Dangiwa further tweeted that the ministry, in collaboration with EFCC, would show that the fight against corruption can deliver real benefits to Nigerians. 'Together with the EFCC, we will work to show that the fight against corruption can deliver real benefits — turning looted assets into livable homes for Nigerians,' he tweeted. Justice Jude Onwuegbuzie of the High Court of the Federal Capital Territory (FCT), sitting at Apo, Abuja, had on Monday, December 2, 2024, issued an order of final forfeiture of the 753 uncompleted duplexes and other apartments located on Plot 109 Cadastral Zone C09, Lokogoma District, Abuja. The commission had stated that the proceedings for the forfeiture of the estate were in line with Section 17 of the Advance Fee Fraud Act, which allowed for action-in-rem. EFCC spokesman, Dele Oyewale, had stated that the proceedings that yielded the final forfeiture of the estate were products of actionable intelligence available to the commission. According to him, 'The company flagged by our investigations denied ownership of the estate following publications made in leading national newspapers. 'On the basis of this, the commission approached the court for an order of final forfeiture, which Justice Jude Onwuegbuzie of the Federal Capital Territory (FCT) High Court granted on Monday, December 2, 2024,' Oyewale had stated. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Bloomberg
22-02-2025
- Business
- Bloomberg
Nigeria Orders Seizure of $4.7 Million From Ex-Central Banker
A Nigerian court ordered the forfeiture of cash and several properties traced to the former governor of the nation's central bank after determining they were 'proceeds of unlawful activity.' The court in Lagos, the nation's commercial hub, ordered that Godwin Emefiele, who was removed as central bank governor in June 2023, forfeit $4.7 million plus 831 million naira ($553,000) held in bank accounts, as well as a number of properties, according to a post on X by Nigeria's anti-corruption agency on Saturday.
