Nigeria: How Bank Waived Due Process for Emefiele's Multi-Billion Naira Transactions
A Zenith Bank witness said account owners authenticated the transactions, while prosecutors allege Emefiele used proxy accounts and a $1.6 billion transfer.
- On Tuesday, Zenith Bank official Richard Agulu testified at the FCT High Court in Maitama, Abuja, detailing how due process was waived for deposits and disbursements involving former Central Bank of Nigeria Governor Godwin Emefiele.
- Following his 2023 removal by President Bola Tinubu, Emefiele faces eight charges from the Economic and Financial Crimes Commission , including breach of trust and conspiracy involving 7.8 billion naira.
- Former Zenith Bank operations head Macaulay Ihekoronya also granted controversial waivers for proxy accounts, while Agulu supervised a 1.6 billion naira transfer to MG Properties Limited on Emefiele's instruction.
- Emefiele denies any wrongdoing, and the judge noted defense counsel Burkaa's professional application regarding a fraudulent $6.23m cash withdrawal, clarifying Emefiele did not benefit from that transaction.
- The legal battle continues alongside a separate forfeiture order for an estate Emefiele allegedly acquired, though he is currently appealing that decision, with the court adjourning proceedings until November 3.
15 Articles
15 Articles
I Deposited Billions In Cash For Emefiele
A former Zenith Bank employee has told the Federal Capital Territory High Court in Abuja that he processed cash deposits running into billions of naira for former Central Bank of Nigeria Governor, Godwin Emefiele. He said the transactions were carried out on instructions allegedly passed through the ex-CBN governor’s personal assistant. The testimony came as the Economic and Financial Crimes Commission, EFCC, continued the prosecution of Emefiel…
How bank waived due process for Emefiele's multi-billion naira transactions
The witness, a Zenith Bank official, said some of the suspicious transactions linked to Mr Emefiele took place outside the normal banking hours. The post How bank waived due process for Emefiele’s multi-billion naira transactions – Witness appeared first on Premium Times Nigeria.
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