Key points
- Presidential investigator Jim Obazee told the FCT High Court that the late former President Muhammadu Buhari should have faced trial over the alleged $6.2 million fraud.
- Obazee also said former SGF Boss Mustapha should be prosecuted alongside former CBN Governor Godwin Emefiele and other officials.
- He admitted under cross-examination that no money was recovered from Emefiele and no evidence showed the funds entered the former CBN governor’s account.
- Obazee said one CBN official refunded $856,500 during the investigation.
- The trial was adjourned until October 20 for continuation.
Main Story
The Economic and Financial Crimes Commission’s (EFCC) prosecution witness, Jim Obazee, on Friday told the High Court of the Federal Capital Territory (FCT) in Abuja that the late former President Muhammadu Buhari ought to have faced prosecution over the alleged $6.2 million fraud involving the Central Bank of Nigeria (CBN).
Obazee, who serves as President Bola Tinubu’s Special Investigator on the CBN and Related Entities, made the assertion while testifying in the ongoing trial of former CBN Governor, Godwin Emefiele, before Justice Hamza Muazu.
Emefiele is standing trial on a 20-count charge bordering on conspiracy, abuse of office and fraud.
Led in evidence by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), Obazee identified documents including a letter purportedly signed by Buhari approving the release of $6.2 million and another allegedly issued from the Office of the Secretary to the Government of the Federation directing the CBN to release the funds to one Jibril Abubakar for logistics relating to foreign election observers.
However, the witness also referred to subsequent statements by former Secretary to the Government of the Federation, Boss Mustapha, denying any knowledge of the transaction and alleging that the documents, including the one attributed to Buhari, were forged.
Obazee told the court that, in his opinion, the alleged fraud involved several individuals and should not be limited to Emefiele alone.
He said Buhari should have faced prosecution were he alive, while Mustapha, Jibril Abubakar, CBN official Bashirudeen Maishanu and other persons connected to the transaction should also be prosecuted.
The witness further faulted officials of the Abuja branch of the CBN for allegedly failing to carry out due diligence before releasing the funds.
According to Obazee, Maishanu refunded $856,500 to his investigative panel during the course of the investigation.
During cross-examination by Emefiele’s counsel, Matthew Burkaa (SAN), Obazee admitted that investigators did not recover any money from the former CBN governor and found no evidence that any part of the alleged proceeds was paid into Emefiele’s bank account.
He nevertheless maintained that Emefiele ought to have been aware of the transaction if the CBN’s internal control mechanisms, including CCTV footage and Bank Verification Number (BVN) records, had been properly utilised.
Obazee also informed the court that President Bola Tinubu directed him on December 19, 2023, in the presence of the Attorney General of the Federation and the EFCC Chairman, to investigate and prepare chargeable offences arising from the alleged fraud.
When confronted during cross-examination with the fact that charges against Emefiele had already been filed before that date, Obazee said he was not a lawyer and could not explain the apparent discrepancy.
Justice Hamza Muazu subsequently adjourned the matter until October 20 for continuation of trial.
The Issues
The testimony has raised fresh questions about the scope of accountability in the alleged $6.2 million transaction, particularly regarding whether other public officials should face criminal investigation if evidence establishes their involvement.
The proceedings also highlighted questions surrounding the authenticity of documents allegedly authorising the release of the funds, following claims by former SGF Boss Mustapha that the documents were forged.
Additionally, Obazee’s admission that no money was recovered from Emefiele and that investigators found no evidence linking the alleged proceeds directly to his personal accounts is likely to form a key aspect of the defence as the trial progresses.
What’s Being Said
Testifying before the court, Jim Obazee maintained that the alleged fraud involved multiple individuals and should not be restricted to the prosecution of Godwin Emefiele alone.
He told the court that former President Muhammadu Buhari, were he alive, should have been prosecuted over the transaction, while former SGF Boss Mustapha and other officials connected to the alleged payment should also face trial.
Under cross-examination, however, Obazee acknowledged that investigators recovered no money from Emefiele and found no evidence that the alleged proceeds were transferred into the former CBN governor’s personal account.
What’s Next
The trial will resume on October 20 before Justice Hamza Muazu for the continuation of the hearing.
The prosecution is expected to call additional witnesses and tender further documentary evidence, while the defence is likely to continue challenging the credibility of the investigation, the authenticity of the disputed documents and the evidence linking Emefiele to the alleged offences.
Bottom Line
The latest proceedings in Godwin Emefiele’s trial introduced fresh claims by the prosecution’s investigator that other senior government officials, including the late former President Muhammadu Buhari and former SGF Boss Mustapha, should also have faced prosecution over the alleged $6.2 million transaction. However, the witness also conceded under cross-examination that investigators found no evidence that the disputed funds entered Emefiele’s personal account, setting the stage for further legal contest as the trial continues.
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