EFCC Hits Former CBN Governor Emefiele With Fresh Corruption Charges

The Economic and Financial Crimes Commission (EFCC) has brought new corruption charges against former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, accusing him of acquiring a vast estate comprising 753 housing units in Abuja and laundering billions of naira through multiple proxy accounts.

Court documents obtained by Premium Times reveal that on Friday, the EFCC filed an eight-count charge at the Federal Capital Territory High Court in Abuja.

The anti-corruption agency alleges that during his tenure as CBN governor, Emefiele collaborated with Eric Ocheme—currently at large—to purchase a prime property located at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja. The estate covers approximately 150,462.86 square meters and consists of 753 housing units.

While the EFCC has not disclosed the legal owner of the estate, it had earlier obtained a court order to seize the property, which was subsequently handed over to the federal government. Emefiele has since appealed to the Abuja Court of Appeal, seeking to overturn the ruling that granted the government control of the estate.

Beyond the property allegations, the EFCC contends that Emefiele operated several proxy bank accounts to launder suspected illicit funds. From January to December 2019, he allegedly held ₦167 million in a proxy account with Zenith Bank.

In 2020, ₦1.23 billion was reportedly found in the Zenith Bank account of Kelvito Integrated Services—co-managed by Emefiele and Ocheme. The following year, the same account was alleged to have received ₦2.94 billion, and in 2022, ₦1.98 billion, all suspected proceeds of corruption.

Additionally, Emefiele is accused of holding ₦900 million and ₦600 million in 2022 in an account registered to Ifedigo Integrated Services.

A significant charge involves forgery. The EFCC claims that in January 2021, Emefiele forged a document titled “Irrevocable Power of Attorney Between MG Properties Limited and H and Y Business Global Limited” to deceive stakeholders into believing it was legally executed. Such actions allegedly violate Sections 319, 362, and 364 of the Penal Code.

This case adds to a series of corruption allegations against Emefiele, including in Lagos, where he faces charges related to the fraudulent allocation of $2 billion in foreign exchange, criminal conspiracy, abuse of office, and undue advantage.

Emefiele has denied all wrongdoing.

The EFCC has lined up at least 24 witnesses to testify, providing evidence on the acquisition and development of the Lokogoma estate and submitting relevant documents to the court.

Emefiele served as CBN governor from 2014 until his removal by President Bola Tinubu in June 2023. He was arrested shortly afterward by the State Security Services (SSS) and reportedly resigned while in detention. He is also facing separate charges related to the controversial naira redesign and other financial irregularities during his tenure.