EFCC investigator reveals how Emefiele allegedly acquired multi-billion naira properties as CBN boss
By Akin Kuponiyi
An Economic and Financial Crimes Commission (EFCC), investigator, Mr Alvan Gurumnaan on Thursday told an Ikeja Special Offences Court how former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, allegedly acquired multi-billion-naira properties across the country through proxies while in office.
Emefiele is facing a 19-count charge bordering on alleged gratification, corrupt demands and abuse of office, involving transactions valued at $4.5 billion and N2.8 billion.
His co-defendant, Henry Omoile, is standing trial on a three-count charge of alleged unlawful acceptance of gifts.
Gurumnaan who was prosecution witness seven in continuation of his evidence-in-chief before Justice Rahman Oshodi, said investigations revealed that Emefiele allegedly deployed associates and other individuals to acquire properties whose values were far beyond his legitimate earnings as CBN Governor.
Led in evidence by the Federal Director of Public Prosecutions, Mr Rotimi Oyedepo, SAN, the witness told the court that Emefiele’s statement was recorded during an intelligence-driven investigation conducted by a special operations team under his leadership.
He alleged that Emefiele used his position as CBN governor to create a system that made it difficult for ordinary Nigerians and business operators in urgent need of foreign exchange to access the funds required for their businesses.
According to him, the difficulties forced some businessmen to resort to special arrangements allegedly imposed by Emefiele before they could obtain foreign exchange.
The witness also told the court that one of such arrangements involved a company allegedly paying millions of dollars to Emefiele through his staff member, Monday Osazuwa.
He said: “One of those examples was how a company had to pay millions of dollars to the first defendant through his staff, Monday Osazuwa.
“Osazuwa admitted to us in the course of investigation that he received about $17 million from the company and gave it to the second defendant sometime.
“The second defendant was the one who later took the money to the first defendant.
“Furthermore, in the course of investigation, we found out the first defendant used his office to receive such amount. Another example is Source Computer, where the managing director of the company was compelled to bring out money to the first defendant before his contract fees were paid.”
The witness also highlighted several properties allegedly acquired by Emefiele through proxies, claiming that the former CBN Governor used associates to procure assets beyond what his legitimate income could justify.
Gurumnaan told the court that several judgments had been secured in favour of the EFCC, resulting in the forfeiture of assets and properties estimated at over N100 billion allegedly linked to Emefiele.
He said: “He accepted and came to court that the properties belong to him.
“The first defendant used associates who also admitted to receiving money on his behalf. One of them is a lawyer called Ifeanyi Omeke, whose office our investigation led us to, and a sum of over $2 million in cash was recovered.
“This same Omeke serves as a secretary to several companies, and he admitted to being a front for the first defendant.
“We recovered a set of twin duplexes in Lekki Phase 1 and also two mansions on Queens Drive, Ikoyi, Lagos.”
However, counsel to Emefiele, Mr Ojo Olalekan, SAN, and counsel to Omoile, Mr Kazeem Gbadamosi, objected to the testimony, arguing that the evidence was irrelevant to the charges before the court.
In a short ruling, Justice Oshodi overruled the objection, holding that the defence would have the opportunity to cross-examine the witness.
Continuing his testimony, Gurumnaan said that during the investigation and recording of Emefiele’s statement, the former CBN governor was given an opportunity to respond to some of the findings but failed to address them.
He said: “Although he did not address the allegation, our investigation found that the first defendant purchased many other properties through proxies, and I have mentioned some of them.
“We also discovered that the first defendant was building a factory in his hometown in Agbor, Delta State, which has also been forfeited to the Federal Government of Nigeria.
“There is also a property, my Lord, on Adekunle Lawal Street in Ikoyi, Lagos, which the first defendant purchased. It had belonged to the Nigerian Printing and Minting Company, where he served as chairman of the board, and he sold the property to himself.
“The property, a block of eight flats in Ikoyi, has also been forfeited to the Government, and during our investigation, another warehouse belonging to the first defendant was recovered in Ogun State, on the outskirts of Lagos.”
The witness further told the court that the warehouse contained several containers allegedly worth hundreds of billions of naira.
He also disclosed that an 11-storey building under construction, comprising about 94 luxury flats, was allegedly linked to the former CBN governor.
In another revelation, Gurumnaan said an estate containing approximately 750 houses, allegedly belonging to Emefiele, was recovered in the Lokogoma district of Abuja.
The court subsequently adjourned the case until tomorrow, Friday, for continuation of trial.