An Economic and Financial Crimes Commission witness, Dr Ali Mohammed, has told the High Court of the Federal Capital Territory that the ₦124.86 billion withdrawn by the Central Bank of Nigeria from the Federal Government’s Consolidated Revenue Account was not traced to former CBN Governor Godwin Emefiele.
Mohammed, a Director of Home Finance at the Federal Ministry of Finance, made the disclosure on Wednesday while testifying in Emefiele’s ongoing trial before Justice Maryanne Anenih in Abuja.
Under cross-examination by Emefiele’s counsel, Olalekan Ojo, SAN, the witness said the withdrawal was not traced to Emefiele’s personal account and that the former CBN governor was not a signatory to the Consolidated Revenue Account.
He also told the court that the withdrawal was not queried by either the Federal Ministry of Finance or the Accountant-General of the Federation.
When asked whether the funds were used to subsidise Hajj pilgrimage on the instruction of former President Muhammadu Buhari, Mohammed said he was not aware of such an arrangement.
The witness further stated that he was unaware of the public transactions that led to the CBN withdrawing the money from the Federal Government account.
According to him, although he was invited by the EFCC over the ₦124.86 billion withdrawal, he was neither questioned about the circumstances surrounding the transaction nor asked to make a statement during his visit to the commission.
Mohammed added that EFCC operatives did not show him any document linking Emefiele to the withdrawal.
He also told the court that three letters from the Federal Ministry of Finance and the Office of the Accountant-General did not identify Emefiele as a signatory to the Consolidated Revenue Account.
The witness said the Ministry of Finance did not write to the CBN seeking clarification on the purpose of the funds, despite advice from the Accountant-General of the Federation.
He further maintained that none of the three letters indicated that Emefiele authorised the debit from the Federal Government account.
Mohammed said the Ministry of Finance took no further action regarding the withdrawal apart from informing the Special Investigator that it was unaware of the transaction.
He also told the court that he had no interaction with the Special Investigator who investigated the operations of the CBN under Emefiele.
Responding to another question, the witness said he was unaware that former President Buhari had obtained approval from the National Assembly for the use of the Ways and Means policy between 2016 and 2023.
Justice Anenih subsequently adjourned the case until November 26 for continuation of trial.
Emefiele is being prosecuted by the EFCC on behalf of the Federal Government over a four-count charge bordering on disobedience to the direction of law and illegal acts causing injury to the public.
The former CBN governor is alleged to have, between October 19, 2022, and March 5, 2023, violated provisions of the CBN Act by approving the printing of 375.52 million colour-swapped ₦1,000 notes at a cost of ₦11.05 billion without the recommendation of the CBN Board and the required approval of the President.
The EFCC alleged that the action caused injury to the public and amounted to offences punishable under the relevant provisions of the law.
Emefiele has pleaded not guilty to the charges.
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