The former CBN governor argues that the EFCC has failed to establish a case against him, while prosecutors insist that testimony from 15 witnesses and documentary evidence justify requiring him to defend the charges.
By Wapcodehub9ja LIVE News Desk
An Abuja High Court has reserved its ruling on former Central Bank of Nigeria (CBN) Governor Godwin Emefiele’s application seeking the dismissal of the charges against him in a trial involving an alleged fraudulent $6.23 million withdrawal from the apex bank and alleged contract irregularities.
The trial judge, Hamza Muazu, of the High Court of the Federal Capital Territory sitting in Maitama, reserved the ruling on Tuesday, October 20, 2026, after hearing arguments from Emefiele’s defence team and the Economic and Financial Crimes Commission (EFCC).
Emefiele, through his lawyer, Matthew Burkaa, a Senior Advocate of Nigeria, filed a no-case submission after the EFCC closed its case in July. The application asks the court to determine that the prosecution has not presented sufficient evidence to require him to enter a defence.
The former CBN governor is facing an amended 20-count charge involving alleged criminal breach of trust, forgery, abuse of office, conspiracy and obtaining money by false pretence.
Defence challenges prosecution’s evidence
Burkaa argued that the prosecution had failed to establish that Emefiele manipulated the bank’s tender process or personally benefited from contracts allegedly awarded to companies associated with his relatives and associates.
The defence maintained that the evidence showed that the companies secured contracts through their bids and that the prosecution had not demonstrated how Emefiele improperly influenced the process.
The lawyer also challenged the evidence relating to the alleged $6.23 million withdrawal from the CBN vault in February 2023.
According to the defence, former Secretary to the Government of the Federation Boss Mustapha testified that his signature and that of former President Muhammadu Buhari had been forged on documents purportedly authorising the payment.
Burkaa further questioned why investigators had not subjected Emefiele’s disputed signature to forensic examination. He argued that the prosecution had not sufficiently established his involvement in the alleged forgery and withdrawal.
The defence urged the court to uphold the no-case submission and dismiss the charges without requiring Emefiele to open his defence.
EFCC insists evidence warrants a defence
The prosecution, led by Rotimi Oyedepo, also a Senior Advocate of Nigeria and Director of Public Prosecutions of the Federation, opposed the application.
Oyedepo argued that the commission had presented sufficient evidence through 15 witnesses and numerous documentary exhibits to establish a prima facie case against the former CBN governor.
On the contract-related charges, the prosecution alleged that some contracts were awarded to companies linked to Emefiele’s relatives and associates without the required scrutiny by the CBN’s Tenders Board Committee.
It also argued that evidence showed that a company identified as April 1616 was allegedly guided to quote an in-house price, giving it an unfair advantage over other prospective contractors.
The prosecution maintained that the alleged offences did not depend solely on whether Emefiele personally received money from the transactions. It argued that the circumstances surrounding the approvals, contract awards and withdrawal required an explanation from the defendant.
$6.23 million withdrawal under scrutiny
The EFCC alleges that $6.23 million was withdrawn in cash from the CBN on February 8, 2023, purportedly to fund foreign election observers for the 2023 general elections.
According to the prosecution, the transaction relied on a letter dated January 26, 2023, which allegedly conveyed presidential approval through the Office of the Secretary to the Government of the Federation.
Mustapha previously denied issuing the letter and said the signatures attributed to him and Buhari were forged.
During earlier proceedings, an EFCC investigator testified that Emefiele approved the withdrawal but acknowledged under cross-examination that the former governor did not personally benefit from the proceeds. The defence has relied on that testimony in challenging the prosecution’s case.
Emefiele has pleaded not guilty to the charges. The allegations remain before the court and have not been established as proven offences against him.
Court to communicate ruling date
After hearing both sides, Justice Muazu reserved his decision on the no-case submission. The date for the ruling is to be communicated to the parties through their lawyers.
The decision will determine whether the prosecution’s evidence is sufficient for the trial to proceed to the defence stage or whether the charges covered by the application should be dismissed.
The proceedings mark a significant stage in the case, which concerns alleged financial misconduct during Emefiele’s leadership of the CBN.
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