An investigator with the Economic and Financial Crimes Commission (EFCC), Alvan Gurumnaan, on Thursday told the Lagos State Special Offences Court in Ikeja that the immediate past Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, allegedly created a system through which individuals and businesses seeking foreign exchange were compelled to make payments to access the funds.
Gurumnaan, a prosecution witness in Emefiele’s ongoing trial before Justice Rahman Oshodi, alleged that the former CBN governor used staff members and associates to collect millions of dollars from companies seeking access to foreign exchange and payment of contract fees.
The witness cited the case of a company whose officials allegedly paid about $17 million to Emefiele through a former CBN staff member, Monday Osazuwa, who reportedly admitted receiving the money during the EFCC investigation.
Read Also: Emefiele: Supreme Court Affirms Final Forfeiture Of Assets, $2m, Share Certificates To Government
Gurumnaan further testified that Osazuwa allegedly told investigators that he sometimes handed the money to the second defendant, Herry Omoile, who subsequently delivered it to Emefiele, while on other occasions he took the money directly to the former CBN governor.
The EFCC investigator also claimed the anti-graft agency uncovered the alleged arrangement while investigating complaints from importers and ordinary Nigerians who had difficulty accessing foreign exchange for their businesses and other legitimate needs.
He told the court that another company, Source Computer, was allegedly compelled to provide money for Emefiele before it could be paid its contract fees.
Gurumnaan further alleged that Emefiele used his office and several associates to acquire properties which were far beyond what his legitimate earnings as CBN governor could support.
He said the investigation revealed that the former CBN governor allegedly used proxies to purchase and hold several properties on his behalf, some of which were later forfeited to the Federal Government following court proceedings.
The witness said the EFCC also traced Emefiele’s alleged dealings to a lawyer, Ifeanyi Omeje, whose office was searched during the investigation, leading to the recovery of more than $2 million in cash.
He said Omeje, who had served as secretary to several companies, admitted to investigators that he acted as a front for the former CBN governor.
Gurumnaan listed some of the properties allegedly linked to Emefiele, including a pair of twin duplexes in Lekki Phase 1 and two mansions on Queen’s Drive, Ikoyi, Lagos.
He also told the court that investigators discovered a factory under construction in Emefiele’s hometown of Agbor, Delta State, which had also been forfeited to the Federal Government.
Another property allegedly linked to the former CBN governor, according to the witness, was a block of eight flats on Adekunle Lawal Street, Ikoyi, Lagos.
He alleged that the property originally belonged to the Nigerian Security Printing and Minting Company, where Emefiele served as board chairman, but was subsequently sold to him.
The investigator said the property had also been forfeited to the Federal Government.
He further disclosed that the EFCC recovered a warehouse in Emefiele’s hometown and another in Ogun State, on the outskirts of Lagos, allegedly belonging to the former CBN governor.
According to him, the warehouse in Ogun State contained several containers whose estimated value ran into hundreds of billions of naira.
Gurumnaan also listed an 11-storey building comprising about 94 luxury flats, an industrial park under construction in Lagos and several other properties among the assets allegedly traced to Emefiele.
He added that investigators recovered an estate comprising about 750 houses in the Lokogoma area of Abuja, which was allegedly linked to the former CBN governor.
The witness maintained that Emefiele was allowed to respond to some of the findings during the recording of his statement but failed to address several of the properties and transactions uncovered by investigators.
He said several courts had ruled in favour of the EFCC in asset-forfeiture proceedings involving properties allegedly linked to the former CBN governor, adding that Emefiele had personally appeared in court and acknowledged ownership of some of the assets.
Emefiele and his co-defendant, Omoile, are standing trial on a 26-count charge bordering on alleged acceptance of gratification, receiving gifts through agents, corruption and fraudulent receipt of property.
The EFCC also accused Emefiele of allegedly conferring corrupt advantages on his associates, contrary to the Corrupt Practices and Other Related Offences Act, 2000.
The charge was filed on April 3 by the anti-graft agency’s prosecutor, Rotimi Oyedepo (SAN).
Both defendants pleaded not guilty to the charges.
The judge has adjourned the matter to November 13 for the continuation of the trial.
