The trial of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele took a dramatic turn on Friday as a special investigator appointed by President Bola Tinubu called for the prosecution of several other individuals, including former Secretary to the Government of the Federation (SGF), Boss Mustapha, over the alleged $6.23 million election observer fund scandal.
Testifying before Justice Hamza Muazu of the Federal Capital Territory High Court, Abuja, the 15th prosecution witness, Jim Obazee, argued that Emefiele should not be the only person facing charges in connection with the disputed withdrawal.
Obazee, who led the federal government’s investigation into the CBN and related entities, told the court that the alleged fraud involved multiple actors and insisted that those he believed played key roles should also be prosecuted.
He specifically called for the trial of former SGF Boss Mustapha, alleging that documents from the SGF’s office initiated the request for the release of the funds.
The witness also argued that former President Muhammadu Buhari should have been prosecuted over the transaction, claiming that the approval process extended beyond the CBN.
In addition, Obazee urged authorities to prosecute Jibril Abubakar, who allegedly collected the funds on behalf of the SGF’s office, Bashirudeen Maishanu, a CBN staff member who reportedly returned $856,500 during the investigation, as well as former members of the CBN board and the manager of the bank’s Abuja branch.
According to him, the officials failed to carry out the necessary due diligence before the money was released, noting that the naira equivalent of the foreign currency should have been lodged before the transaction was approved.
“Whatever you are doing to Emefiele by way of prosecution ought to have been done to Buhari, Mustapha, Maishanu and former board members of the CBN,” the witness told the court.
He added that prosecuting everyone allegedly connected to the transaction would serve as a deterrent against future corruption.
During cross-examination by defence counsel Matthew Burkaa (SAN), Obazee acknowledged that he did not recover any money directly from Emefiele.
He, however, maintained that the former CBN governor should have been aware of the transaction, arguing that the alleged fraud could have been detected if the bank’s CCTV systems and Bank Verification Number (BVN) platform had been properly utilised.
The witness also testified that the irregular withdrawal should have been reflected in the CBN’s annual financial statements if appropriate oversight mechanisms had been followed.
Obazee further disclosed that President Bola Tinubu directed him on December 19, 2023, to identify offences arising from the investigation for possible prosecution.
Following the witness’s testimony, Director of Public Prosecutions Rotimi Oyedepo (SAN) informed the court that the prosecution had closed its case after calling 15 witnesses.
Counsel to the defendant subsequently announced plans to file a no-case submission, arguing that the prosecution had failed to establish sufficient evidence against Emefiele.
Justice Muazu adjourned the matter until October 20, 2026, for the adoption of final addresses.
