Emefiele: How Forged Buhari’s Signature Was Used to Withdraw $6.23b from the CBN

A dramatic turn unfolded at the Federal Capital Territory High Court in Maitama, Abuja, on Monday as a prosecution witness alleged that a staggering $6.23 billion was fraudulently moved from the Central Bank of Nigeria (CBN) under the pretext of funding foreign observers for the 2023 general election.

Testifying before Justice Hamza Muazu, the 13th prosecution witness, Chinedu Eneanya, told the court that the funds were allegedly siphoned from the apex bank during the tenure of former CBN Governor, Godwin Emefiele, who is currently standing trial on a 20-count amended charge.

Emefiele is being prosecuted by the Economic and Financial Crimes Commission (EFCC) over allegations bordering on criminal breach of trust, forgery, abuse of office, and conspiracy to obtain money under false pretence.

Led in evidence by EFCC counsel, Rotimi Oyedepo, SAN, Eneanya disclosed that he was part of the investigative team that uncovered the alleged fraud. According to him, the probe revealed that the $6.23 billion was released from CBN coffers purportedly to finance foreign election observers—an explanation investigators later found to be a cover for illicit withdrawals.

He further told the court that several individuals linked to the controversial transaction were invited and interrogated, while key documents authorising the disbursement were retrieved from the CBN.

In a particularly explosive revelation, the witness stated that the investigation uncovered forged signatures of former President Muhammadu Buhari and former Secretary to the Government of the Federation, Boss Mustapha, on documents used to approve the release of the funds. He added that forensic examinations confirmed the signatures were not authentic.

Under cross-examination by defence counsel, Matthew Burkaa, SAN, Eneanya acknowledged that five CBN officials who endorsed the internal memo tied to the transaction had since been suspended by the bank.

Earlier, the defence had urged the court to consider foreclosing the prosecution’s case if it failed to produce its remaining two witnesses at the next hearing, accusing the EFCC of deliberate delays aimed at undermining the defendant’s right to a fair trial.

However, Oyedepo pushed back, insisting the prosecution was acting in good faith but encountering logistical challenges in securing the attendance of the outstanding witnesses, said to be outside the court’s jurisdiction in Benin City and Lagos.

Ruling on the matter, Justice Muazu advised both parties to reserve arguments on the application until the final address stage. He also directed the prosecution to work with the court registrar to issue subpoenas to compel the attendance of the witnesses.

The case was adjourned to April 28, 2026, for continuation of trial.