Tuesday, October 6, 2026

Emefiele: Finance ministry unaware of N124.86 billion CBN withdrawal, witness tells court

Mr Mohammed said the document showed the N124.86 billion withdrawal was unknown to the finance ministry.

and • October 6, 2026
CBN Governor Godwin Emefiele
EX CBN Governor Godwin Emefiele

A director in the Federal Ministry of Finance, Ali Mohammed, has told the Federal Capital Territory High Court, Abuja, that the ministry was unaware of the withdrawal of N124.86 billion from the Central Bank of Nigeria.

The Economic and Financial Crimes Commission disclosed this in a statement on Tuesday.

Mr Mohammed, who testified as the 10th prosecution witness in the trial of former CBN Governor Godwin Emefiele, disclosed this on Tuesday while being led in evidence by prosecution counsel Abbas Mohammed.

The witness said the ministry received a letter from the investigation team concerning N154 billion allegedly withdrawn by the CBN, prompting him to contact the three divisions under his supervision to determine whether they were aware of the transaction.

According to him, none of the divisions was aware of the transaction.

Mr Mohammed said the State and Public Finance Investment Division was the relevant division because it oversees the CBN.

He said he subsequently wrote through the ministry’s permanent secretary to the Office of the Accountant-General of the Federation to ascertain whether it was aware of the transaction.

“The OAGF responded in writing that it was not aware of the transaction and concluded that the money was a direct credit from the CBN,” he said.

The witness said he later prepared a memo and sought clearance to forward the documents to the special investigator.

He identified the documents in court, after which the prosecution sought to tender them as evidence.

Defence counsel Olalekan Ojo (SAN) said he had no objection to their admission.

Justice Maryanne Anineh admitted the documents and marked them as Exhibits AJ, AK and AL.

Mr Mohammed said the document showed that the N124.86 billion withdrawal was not known to the finance ministry, adding that he relied on the letter from the accountant-general before signing the document.

On Exhibit AL, the witness said the OAGF confirmed it was unaware of the transaction involving the N124.86 billion.

He read, “Accordingly, the figure under consideration was classified in the Ministry’s record as a direct debit letter by the Central Bank of Nigeria.”

Mr Mohammed explained that the phrase meant the money was withdrawn from the CBN “without recourse to any office in Nigeria.”

He added that ordinarily, the OAGF, which is supervised by the finance ministry, would be directed before any withdrawal was made.

The witness said the letter did not indicate that the ministry had directed the OAGF to make the withdrawal, particularly from the Consolidated Revenue Fund.

Earlier, prosecution witness nine, Hamisu Abdullahi, a director of banking services at the CBN, continued his testimony.

The prosecution referred Mr Abdullahi to an email he mentioned during his cross-examination on May 4, 2026, and asked whether he could recall it.

The witness answered in the affirmative, explaining that the email was generated from the CBN’s computer system, certified as a true copy and accompanied by a certificate of compliance.

He said the email conveyed a directive from the then CBN governor to recover N1.4 billion in debit from the receivables account of the Consolidated Revenue Fund.

Mr Abdullahi identified the document when it was shown to him in court.

The prosecution subsequently sought to tender the email and its accompanying certificate.

Justice Anineh adjourned the case until Wednesday for cross-examination and continuation of the trial.

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Nigerian Bar Association

States

Independence: NBA urges Nigerians to expect better future

The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.

farmers

Agriculture

FG tasks ECOWAS on leveraging financing strategies for agroecology

The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Katsina State

Politics

Katsina youths pledge to deliver over 2 million votes to Atiku

“Katsina State is Atiku’s political base because it is his second home.”

Godwin Emefiele

Anti-Corruption

Alleged $4.5 Billion Fraud: Emefiele’s absence stalls trial

The defence counsel said Mr Emefiele had another ongoing case in Abuja, the outcome of which cannot be predicted.

FBI

World

FBI charges 20 Atlanta residents with firearms, drug trafficking

U.S. Attorney Theodore S. Hertzberg said, “Gang‑related firearms trafficking and drug trafficking pose a grave threat to our community.”

Police

Ibadan

Three suspects arrested over alleged murder of family in Oyo

The police said the incident occurred on September 22, 2026, at about 7:00 p.m. when the attackers invaded the victims’ house.

António Guterres addressing UN assembly

World

UN chief calls for end to U.S.-Iran conflict

The UN chief saluted Pakistan for its leadership in helping to create the conditions for dialogue between the U.S. and Iran.

CBN Governor Godwin Emefiele

Anti-Corruption

Emefiele: Finance ministry unaware of N124.86 billion CBN withdrawal, witness tells court

Mr Mohammed said the document showed the N124.86 billion withdrawal was unknown to the finance ministry.

World

Student killed, seven others injured in Turkey mass stabbing at Istanbul school

Police detained the suspected attacker, described by officials as a 15-year-old 10th-grade student from another school.