Alleged $4.5bn & N2.8bn Fraud
OpenLife News reports that an investigator with the Economic and Financial Crimes Commission (EFCC), Alvan Gurumnaan, on Thursday told an Ikeja Special Offences Court that former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, acquired multi-billion naira properties in proxy while in office.
Emefiele is facing a 19-count charge of 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
The Gurumnaan, in his continuation of his evidence in chief led by the Federal Director of Public Prosecution (DPP) Mr Rotimi Oyedepo (SAN) revealed that Emefiele’s statement was recorded in the course of the intelligence received by the special operation team which he led.
He said investigation revealed that Emefiele used his office as the governor of Central Bank of Nigeria, CBN, to build system that did not allow ordinary Nigerians and business people who were in dire need of forex exchange to access such funds to go about their businesses.
According to him, due to the difficulties in accessing the funds, the business men had to bend to some special arraignments that were made by Emefiele before they can access the funds.
The witness said: ” One of those examples was how a company had to pay million 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 US dollars 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 and another example is source computer where the managing director of the company was compelled to bring out money to the first defendant before his contact fees were paid.”
The winess further highlighted various properties which were owned by the first defendant though proxy.
Gurumnaan told the court that Emefiele used associates to procure numerous properties found beyond his legitimate income as the governor of central bank.
According to him, several courts have given judgments in favour of EFCC, forfeiting assets and properties estimated about N100 of billions, belonging to Emefiele.
Gurumnaan 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 Ifeanyin Omeke, whose our investigation led to his office and a sum of over 2 million US dollars cash were 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 in Queens Drive Ikoyi, Lagos.
Emefiele Lead Counsel, Mr Ojo Olalekan (SAN) and Omoile’s Lead Counsel, Mr Kazeem Gbadamosi objected and argued that the testimony of the witness was not relevant to the charge before the court.
Justice Rahman Oshodi, in his short ruling, overuled the obejction and held that the defendants would be at the liberty to cross examine the witness.
The witness, in his further testimony, told the court that during the investigation and the recording of the first defendant’s statement, he was allowed to respond to some of the findings but he did not.
Gurumnaan 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 said the warehouse contained several containers worth an estimated hundreds of billions of naira and there was an 11-story building under construction, comprising about 94 luxury flats also belonging to Emefiele.
Gurumnaan also told the court the Emefiele owned and an estate containing about 750 houses belonging to the first defendant was also recovered in the Lokogoma district of Abuja.
Oshodi adjourned the case until November 13 for continuation of trial.
Questions & Responses On The Substance Of The Case
Q: What is Emefiele accused of in the Ikeja court trial?
A: Former CBN Governor Godwin Emefiele is facing a 19-count charge of alleged gratification, corrupt demands and abuse of office, involving transactions valued at $4.5 billion and N2.8 billion. His co-defendant Henry Omoile faces three counts of alleged unlawful acceptance of gifts.
Q: What did EFCC investigator Alvan Gurumnaan tell the court about Emefiele?
A: Gurumnaan testified that Emefiele used his office as CBN governor to build a system that denied ordinary Nigerians and businesses access to forex, forcing them into special arrangements, and used associates/proxies to acquire numerous properties beyond his legitimate income.
Q: What properties did EFCC link to Emefiele?
A: EFCC listed twin duplexes in Lekki Phase 1, two mansions in Queens Drive Ikoyi, a block of eight flats on Adekunle Lawal Street Ikoyi, a warehouse in Ogun State, an 11-storey building with about 94 luxury flats, a factory in Agbor, Delta State, and an estate of about 750 houses in Lokogoma, Abuja.
Q: How much cash was allegedly recovered in the Emefiele investigation?
A: The witness said Monday Osazuwa admitted receiving about $17 million from a company and giving it to the second defendant who took it to Emefiele, and over $2 million cash was recovered from lawyer Ifeanyin Omeke, who allegedly admitted being a front for Emefiele.
Q: When is the next date for Emefiele’s trial?
A: Justice Rahman Oshodi adjourned the case until November 13 for continuation of trial.
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