A former Zenith Bank employee has told the Federal Capital Territory High Court in Abuja that he processed cash deposits running into billions of naira for the former Central Bank of Nigeria Governor, Godwin Emefiele. The witness explained that the transactions were carried out based on instructions allegedly passed through the former Central Bank Governor's personal assistant. This testimony was delivered as the Economic and Financial Crimes Commission continued the prosecution of Emefiele in an alleged N7.8 billion fraud case before Justice Yusuf Halilu.
The third prosecution witness, Richard Agulu, stated that his role while serving at Zenith Bank involved receiving large sums of cash from Eric Ocheme, who was identified as the personal assistant to Emefiele. According to the witness, the money was subsequently paid into the bank accounts of Ifeabigo Integrated Services and Kelvito Integrated Services or kept securely within the bank’s vault. During cross-examination by the defence counsel, Mathew Burkaa, SAN, Agulu stated that he acted strictly on instructions communicated by Ocheme through telephone conversations, adding that the directives originated from Emefiele.
The witness noted that every transaction was processed in line with the established procedures of the financial institution despite the unusual nature of the assignments. The witness told the court, “For every transaction, I followed normal banking procedures. I was given a verbal waiver by my superiors to attend to the defendant’s transactions,” However, he declined to reveal the identities of the bank officials who allegedly authorized him verbally to manage the transactions when pressed during cross-examination. The witness maintained that his handling of the deposits was backed by approvals from his superiors,精神 insisting that he merely carried out the banking responsibilities assigned to him.
Following the testimony, Justice Halilu adjourned further proceedings in the trial as the prosecution continues to present its case against the former apex bank governor. The ongoing trial is one of several criminal cases instituted against the former Central Bank of Nigeria chief following his suspension from office in June 2023. In the case before Justice Yusuf Halilu of the Federal Capital Territory High Court in Abuja, the Economic and Financial Crimes Commission is prosecuting him on an amended 20-count charge involving alleged criminal breach of trust, conspiracy, forgery, unlawful possession of property, and conferring corrupt advantage.
The alleged fraud is estimated at about N7.8 billion, and Emefiele has pleaded not guilty to all the charges brought against him. The anti-graft agency alleged that large sums of cash were lodged in accounts operated by companies, including Kelvito Integrated Services and Ifeabigo Integrated Services, which investigators claim were used in transactions linked to the former Central Bank Governor. The testimony by the former bank employee forms part of the efforts by the prosecution to establish how the funds were allegedly received, processed, and warehoused. Apart from the Abuja proceedings, Emefiele is also facing separate criminal trials in Lagos over alleged abuse of office, unlawful gratification, and foreign exchange-related transactions running into billions of naira and millions of dollars. The former apex bank chief has consistently denied all allegations and is contesting the charges in court.
0 Comments