Emefiele Freed After Fulfilling Bail Terms

Emefiele Freed After Fulfilling Bail Termswin Emefiele, the former governor of the Central Bank of Nigeria, was recently released after meeting the bail conditions set by the court. He was brought to the Lagos High Court, Ikeja by the Economic and Financial Crimes Commission (EFCC) and later returned home following the court proceedings.

Justice Rahman Oshodi, who presided over his bail application, granted him bail in the amount of N50 million along with two sureties of equal sum. The trial commenced promptly after the bail was approved, with the EFCC presenting its first prosecution witness.

The witness, identified as Monday Osazuwa, an employee of the Central Bank of Nigeria (CBN), testified in court about how Emefiele instructed him to collect $3 million in cash on various occasions. Led by the prosecution counsel, Rotimi Oyedepo, Osazuwa detailed his experiences working closely with the former CBN Governor.

Osazuwa mentioned his employment history, starting as a contract staff member in 2014 and transitioning to a full-time staff member in 2015. He described his interactions with Emefiele, including communication through WhatsApp and emails, and the tasks he carried out as a senior supervisor in the governor’s office.

Additionally, Osazuwa recounted specific instances in 2020 when Emefiele directed him to collect substantial amounts of cash from a businessman on his behalf. He confirmed receiving $1 million initially, followed by $850,000, $750,000, and $400,000 in separate installments. Osazuwa also acknowledged his familiarity with Dumies Oil and Gas Limited from his time at Zenith Bank.

During his testimony in court, the witness stated that he consistently deposited the money into Dumies’ account as per Emefiele’s instructions. When asked about the whereabouts of the second defendant, he revealed that Henry Isioma Omoile resided in the former CBN governor’s residence.

According to the witness, whenever he received the money, he would take it to Mr. Emefiele’s house. If Emefiele was not at home, he would instruct the witness to give the money to the second defendant. The witness did not keep a record of the transactions because Emefiele instructed him to collect the money and bring it directly to his house. The largest amount he collected was $1 million in cash. 

The witness emphasized that Emefiele never told him to keep any portion of the money for himself. He never received any rewards, payments, or gifts for his services, as he was motivated solely by his faithfulness to Emefiele.

During cross-examination by the defendant’s counsel, the witness confirmed that he had been working with the defendant since 2002. However, he could not provide an exact duration of how long he had known the second defendant.

The witness asserted that Omoile had been residing in Emefiele’s house for several months. He also stated that Emefiele communicated instructions to him through the second defendant and that he had been collecting cheques for Dumies Oil and Gas.

The witness mentioned that he began collecting cheques for Dummies Oil and Gas while working at Zenith Bank, during the time when Emefiele served as the MD. Although he couldn’t specify the exact year, he confirmed that it started during his tenure at Zenith Bank Plc.

When the witness confronted the second defendant during the investigation, the second defendant denied that instructions were passed through him.

Prior to the witness’s testimony, the defense counsel requested an adjournment, which was denied by Justice Oshodi. The court deemed the request unjustified.

The trial will resume on April 29 for further proceedings and the hearing of certain applications.