An Assistant Director of the Central Bank of Nigeria (CBN) on Thursday told the Federal Capital Territory High Court, Abuja, how $6.23 million was allegedly withdrawn from the apex bank through forged documents in connection with the 2023 general elections.
The Eleventh Prosecution Witness (PW11), Bashirudden Muhammed Maishanu, gave the account while testifying before Justice Hamza Muazu in the ongoing trial of a former Governor of the CBN, Godwin Emefiele.
Led in evidence by the prosecution counsel and Director of Public Prosecution, Rotimi Oyedepo, SAN, the witness said the sum of $6,230,000 was paid in cash at the Garki Branch of the CBN on February 8, 2023, purportedly for election observers and logistics, based on forged approval documents.
Maishanu told the court that he became acquainted with the defendant in 2015 through one Eric, who was Emefiele’s personal assistant. He said he was approached in early January 2023 by an individual identified as Alhaji Ahmed, who claimed to be working with a special committee in the Office of the Secretary to the Government of the Federation (SGF).
According to the witness, Ahmed informed him that arrangements were underway for a payment from the CBN on the authority of the President and later presented documents he claimed showed presidential approval. He said Ahmed subsequently indicated that they intended to obtain the approval of the CBN Governor and requested assistance in facilitating a cash withdrawal.
Maishanu testified that on February 8, 2023, a friend of his, accompanied by a driver, proceeded to the Garki Branch of the CBN and withdrew the $6.23 million in cash. He added that Ahmed allegedly left with $2.5 million from the total sum, while the remaining cash was left with his associates.
The witness said he became suspicious due to the volume of money involved and advised that the funds be kept, stressing that there had been no prior agreement on any payment. He further told the court that the money was later discovered to be linked to forged documents.
Explaining internal procedures, Maishanu said the CBN has strict processes for payments and imposes sanctions ranging from warnings to dismissal on erring staff, depending on the gravity of the offence. He added that disciplinary measures are determined after investigations by a committee and approval by management.
He disclosed that he was not subjected to disciplinary action by the CBN Board over the matter, noting that the CBN Governor serves as Chairman of the Board and also chairs the Committee of Governors empowered to approve such transactions.
The witness maintained that the $6.23 million was meant for election-related expenses, specifically for “expenses on election overseers,” but insisted that the approval used for the withdrawal was fraudulent.
Under cross-examination by defence counsel, Mathew Burkar, SAN, the witness said he did not personally see the approval being signed and could not identify who authorised it. However, he insisted that the withdrawal was traceable through internal documents bearing the signatures of all officers involved in the transaction.
He further admitted that $2.5 million was left for himself and two others but said he did not initially know the funds were fraudulent, adding that he later realised the transaction was a “set-up” after being shown forged documents by another official.
Justice Muazu adjourned the matter until Friday, January 30, 2026, for the continuation of trial.
