A prosecution witness from the Economic and Financial Crimes Commission (EFCC), Alvan Gurumnaan, on Tuesday told the Lagos State Special Offences Court in Ikeja how the former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, allegedly received a total of $17.1 million in cash over a period of three years through a proxy.
Testifying before Justice Rahman Oshodi, Gurumnaan, who heads the EFCC’s special operations team, said the transactions occurred between 2020 and 2023. He stated that the funds were delivered in tranches to Emefiele’s associate and co-defendant, Henry Omoile, who then passed them on to Emefiele either directly or indirectly.
Emefiele and Omoile are currently facing a 19-count charge filed by the EFCC, relating to corrupt practices involving an alleged $4.5 billion and ₦2.8 billion in illicit dealings.
Led in evidence by EFCC counsel Rotimi Oyedepo (SAN), Gurumnaan said the investigation began after the commission received credible intelligence implicating Emefiele. The team subsequently obtained documents from the CBN and several regulatory bodies including the Code of Conduct Bureau, Corporate Affairs Commission, and commercial banks.
Gurumnaan recounted how key figures within the CBN, including staff from departments such as currency operations, trade and exchange, and legal, were questioned, and some detained. He noted that some of Emefiele’s close aides—such as Monday Osazuwa, John Adetola, and John Ogar—were also questioned during the probe.
A key individual who surfaced repeatedly during the investigation was Emefiele’s personal assistant, Eric Odoh, who has reportedly absconded and is currently on an Interpol red notice. Gurumnaan said Odoh is suspected to have fled to Canada, the Dominican Republic, or other locations.
According to the EFCC witness, Osazuwa—who had worked with Emefiele since their days at Zenith Bank—confirmed he ran both official and personal errands for him. He revealed that between September 2020 and June 2023, Osazuwa acted as a courier for cash totaling $17.1 million, which he received from a businessman in Victoria Island, Lagos, and delivered to Omoile at Emefiele’s Lagos residence.
“Most of these transactions took place on Fridays when the first defendant was working out of his Lagos office,” Gurumnaan added.
The EFCC tendered a set of documents labeled as “exhibit E” relating to the cash transactions.
Emefiele’s lead counsel, Olalekan Ojo (SAN), objected to the process and sought to have the documents examined by a forensic expert of the defendant’s choice. However, Justice Oshodi directed the defence to file a formal application to that effect.
The second defendant’s lawyer, Yinka Kotoye (SAN), supported the motion and reminded the court of previous requests by the defence for access to the documents, which had yet to be fulfilled by the prosecution.
Justice Oshodi, in his ruling, ordered that a formal application be submitted and adjourned the matter to October 7, 8, and 9, 2025, for continuation after the court’s annual vacation.
What you should know
Former CBN Governor Godwin Emefiele is facing corruption charges over alleged cash receipts of $17.1 million delivered through a proxy.
The EFCC’s case is built on intelligence and documentation gathered from regulatory bodies and CBN staff. The trial resumes in October 2025 for continuation of testimony.
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