The Economic and Financial Crimes Commission has accused former Central Bank of Nigeria Governor, Godwin Emefiele, of using associates, including a lawyer, to acquire multi-billion-naira properties through proxies while in office.
An EFCC investigator, Alvan Gurumnaan, made the allegation on Thursday while testifying as the seventh prosecution witness in Emefiele’s ongoing trial before the Ikeja Special Offences Court in Lagos.
Gurumnaan told the court that investigators recovered several properties allegedly linked to the former CBN governor in Lagos, Delta, Ogun states and Abuja.
He also disclosed that more than $2m in cash was recovered from the office of a lawyer, Ifeanyi Omeke, who allegedly admitted to acting as Emefiele’s front and receiving funds on his behalf.
According to the witness, the investigation revealed that Emefiele allegedly deployed his position as CBN governor to create difficulties for businesses seeking foreign exchange for legitimate transactions.
He claimed that some companies were compelled to make payments through intermediaries before accessing foreign exchange or receiving payments for their contracts.
“One of those examples was how a company had to pay millions of dollars to the first defendant through his staff, Monday Osazuwa,” Gurumnaan told the court.
He added that Osazuwa allegedly admitted receiving about $17m from the company before transferring the money through Emefiele’s co-defendant, Henry Omoile, to the former CBN governor.
The investigator also cited the case of Source Computer, alleging that its managing director was made to pay money to Emefiele before the company could receive payment for its contract.
Listing the properties allegedly acquired through associates, Gurumnaan said investigators recovered twin duplexes in Lekki Phase 1 and two mansions on Queen’s Drive, Ikoyi, Lagos.
He further identified a factory under construction in Agbor, Delta State, and a block of eight flats on Adekunle Lawal Street, Ikoyi, allegedly acquired through proxies.
Other properties mentioned included a warehouse in Ogun State containing several containers, an 11-storey building comprising about 94 luxury apartments under construction in Ikoyi, and an industrial park being developed in Amuwo Odofin, Lagos.
The witness also listed an estate comprising approximately 750 housing units in the Lokogoma area of Abuja among the assets allegedly linked to Emefiele.
He told the court that some of the properties had been forfeited to the Federal Government following judgments obtained in favour of the EFCC.
However, lawyers representing Emefiele and Omoile challenged the admissibility of the testimony, arguing that the prosecution was introducing allegations and evidence that were not contained in the proof of evidence earlier served on the defendants.
Emefiele’s counsel, Ojo Olalekan (SAN), argued that the prosecution could not introduce additional facts through its witness without formally filing and serving further proof of evidence on the defence.
Counsel for Omoile, Kazeem Gbadamosi, also objected, maintaining that the investigator’s testimony should be limited to findings directly connected to the charges against his client.
Responding, prosecution counsel, Rotimi Oyedepo (SAN), argued that the witness was entitled to present findings from the investigation, particularly those relating to the alleged use of gratification proceeds to acquire assets.
He maintained that the defendants would have the opportunity to challenge the allegations during cross-examination.
In his ruling, Justice Rahman Oshodi dismissed the objection, relying on the Supreme Court decision in Ugwuma v. The State (2018), which permits investigating officers to testify about matters they personally observed or discovered during investigations.
The judge consequently allowed Gurumnaan to continue his testimony, while preserving the defence’s right to cross-examine him.
The defence subsequently raised another objection when the witness sought to tender a certified true copy of a Supreme Court judgment relating to some of the properties, arguing that the document had not been adequately disclosed ahead of the proceedings.
Justice Oshodi deferred a decision on the document and the objection until the next sitting.
Emefiele is facing a 19-count charge bordering on alleged gratification, corrupt demands and abuse of office involving transactions valued at $4.5bn and N2.8bn.
His co-defendant, Omoile, is facing a separate three-count charge bordering on alleged unlawful acceptance of gifts.
The court adjourned the case until Friday, November 13, 2026, for continuation of proceedings.
