CBN Staff Reveals: Over $1 Million Collected For Emefiele Without Personal Benefit

CBN Staff Reveals: Over $1 Million Collected For Emefiele Without Personal Benefit

A Central Bank of Nigeria (CBN) employee, Monday Osazuwa, recently disclosed how he handled large sums of cash for the former CBN Governor, Godwin Emefiele. Osazuwa made these revelations during a court session at the Ikeja Special Offences Court, where he testified under the guidance of Rotimi Oyedepo (SAN), the counsel for the Economic and Financial Crimes Commission (EFCC).

Osazuwa, employed as a senior supervisor at the CBN, recounted his encounters with Emefiele, tracing back to their time at Zenith Bank in 2001 when Emefiele was the Managing Director. He described his role as primarily overseeing documentation and filing within the CBN governor’s office in Lagos.

Detailing his interactions with Emefiele, Osazuwa stated that in 2020, Emefiele instructed him to collect funds from various individuals, which he would then deliver to Emefiele or his associate, Henry Isioma-Omoile. These transactions often involved substantial amounts of cash, ranging from one million dollars to smaller tranches like $850,000, $750,000, and $400,000.

Osazuwa clarified that he never kept records of these transactions, as per Emefiele’s instructions to deliver the cash directly to him or his associate. Despite his loyalty, Osazuwa claimed he had never received any form of compensation for his services.

Under cross-examination, Osazuwa affirmed his long-standing professional relationship with Emefiele, dating back to 2002. He admitted to facilitating transactions for Dumies Oil and Gas, a company associated with Emefiele, since his time at Zenith Bank.

The EFCC had recently arraigned Emefiele on multiple charges, including abuse of office and receiving gratifications, while his co-defendant faced charges related to accepting gifts. The case has been adjourned until April 29 for further proceedings.

It’s clear that Osazuwa’s testimony sheds light on alleged financial impropriety within the CBN, emphasizing the need for transparency and accountability within the institution.

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