Emefiele: Buhari should have faced trial over $6.2m fraud – Investigator

President Bola Tinubu’s Special Investigator on the Central Bank of Nigeria, Jim Obazee, on Friday told the High Court of the Federal Capital Territory, Abuja, that the late former President Muhammadu Buhari ought to have faced trial over the alleged $6.2m fraud involving the apex bank.

Obazee, who testified as a prosecution witness for the Economic and Financial Crimes Commission in the ongoing trial of former CBN governor, Godwin Emefiele, also said former Secretary to the Government of the Federation, Boss Mustapha, should be prosecuted over the transaction.

Emefiele is facing a 20-count charge bordering on conspiracy, abuse of office and fraud before Justice Hamza Muazu.

Led in evidence by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo, SAN, Obazee was shown documents, including a letter purportedly signed by Buhari approving the release of the $6.2m and another allegedly originating from the Office of the SGF directing the CBN to release the funds to one Jibril Abubakar for logistics relating to foreign election observers.

The witness, however, referred to subsequent statements by Mustapha denying knowledge of the transaction and alleging that the documents, including the one attributed to Buhari, were forged.

Obazee told the court that, in his view, the alleged fraud involved several persons and should not be limited to Emefiele alone.

He demanded that while Buhari should be posthumously prosecuted, Mustapha must be lined up in the dock with Emefiele, Mustapha; Abubakar, a CBN official, Bashirudeen Maishanu, and other officials connected with the transaction were prosecuted.

According to him, the Abuja branch of the CBN also failed to carry out due diligence before releasing the funds.

He further stated that Maishanu refunded $856,500 to his investigative panel during the probe.

Under cross-examination by Emefiele’s counsel, Matthew Burkaa, SAN, Obazee admitted that he did not recover any money from the former CBN governor and found no evidence that any of the alleged proceeds was transferred into Emefiele’s account.

He, however, maintained that Emefiele ought to have been aware of the transaction if internal control mechanisms, including the bank’s CCTV system and Bank Verification Number records, had been properly utilised.

Obazee also told the court that Tinubu invited him on December 19, 2023, and directed him, in the presence of the Attorney General of the Federation and the EFCC Chairman, to investigate and prepare chargeable offences arising from the alleged $6.2m fraud.

When confronted with the fact that the charge against Emefiele had been filed before that date, the witness said he was not a lawyer and could not explain the discrepancy.

Justice Muazu thereafter adjourned the case until October 20 for continuation of the trial. (Punch)