A prosecution witness in the ongoing trial of former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has told the Federal Capital Territory (FCT) High Court in Abuja that he deposited billions of naira in cash on behalf of the former apex bank chief while serving as a staff member of Zenith Bank.
The witness, Richard Agulu, who testified as the third prosecution witness (PW3) before Justice Yusuf Halilu of the FCT High Court, Maitama, made the disclosure during cross-examination by Emefiele’s counsel, Chief Mathew Burkaa (SAN), on Tuesday.
Agulu told the court that the cash was delivered to him by Emefiele’s personal assistant, Eric Ocheme, and was either paid into the accounts of Ifeabigo Integrated Services and Kelvito Integrated Services or kept in Zenith Bank’s vault, based on instructions allegedly issued by Emefiele.
According to the witness, he acted strictly on the defendant’s directives, which were communicated through Ocheme’s phone. He said his responsibilities included receiving the cash and disbursing the funds in line with Emefiele’s instructions.
The former banker, who said he spent 17 years in the banking sector, testified that all withdrawals from the accounts of Ifeabigo Integrated Services and Kelvito Integrated Services were duly authorised by the legitimate account owners and signatories.
He further stated that although he did not receive written approval from his superiors to handle the transactions, he operated under verbal waivers granted by bank management because of the nature of the customer.
“My Lord, for every transaction, I followed normal banking procedures. There are waivers for certain customers who can bring cash into the bank. I was not given written approval, but I received verbal clearance from my superiors to attend to the defendant’s transactions. I cannot mention names because I do not want to put anyone in trouble,” the witness told the court.
Agulu also testified that he supervised the transfer of ₦1.6 billion to MG Properties Limited on Emefiele’s instruction, which was conveyed through his personal assistant.
Following the testimony, Justice Halilu adjourned the case until November 3, 4 and 5, 2026, for the continuation of trial.
Emefiele is standing trial on an eight-count charge filed by the Economic and Financial Crimes Commission (EFCC), bordering on alleged criminal breach of trust, conspiracy, forgery and unlawful possession of properties suspected to be proceeds of crime valued at ₦7.831 billion. The former CBN governor has pleaded not guilty to the charges.
