The legal troubles of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, resurfaced on Tuesday as the Economic and Financial Crimes Commission (EFCC) presented fresh evidence linking him to $2.045 million and several property-related transactions. The disclosures were made during proceedings at the Federal Capital Territory High Court in Abuja.
Testifying before the court, the 12th prosecution witness and EFCC operative, David Jaiyeoba, said the investigation was built on bank records, approvals, and internal memoranda obtained from the CBN and Zenith Bank. Led by the prosecution counsel, Rotimi Oyedepo (SAN), the witness identified multiple documents allegedly approved by Emefiele for renovation, furnishing, landscaping, and power supply at his official residence in Ikoyi, Lagos.
Jaiyeoba told the court that payments to Architeco Nigeria Limited for various projects were authorised through internal CBN memos bearing Emefiele’s approval. He also cited bank records from Zenith Bank showing transactions linked to the contracts, including a ₦4 million payment made in January 2015.
According to the witness, the EFCC recovered $2.045 million, along with property documents, from Zenith Bank’s headquarters in Lagos. He said the items were found in the custody of Collins Omeke, a lawyer said to be acting for Emefiele. Omeke allegedly told investigators that he handled property purchases and documentation on Emefiele’s instructions, with payments reportedly made in cash dollars.
At the close of the session, the court adjourned the trial to March 5, 16, and 17, 2026, to allow the prosecution continue its case. Emefiele, who led the CBN from 2014 to 2023, is standing trial on 20 counts bordering on alleged procurement fraud valued at about ₦1.2 billion.