Breaking: Ex-Banker Opens Up On How He Allegedly Deposited Billions In Cash For Former CBN Gov
- A former Zenith Bank employee told an FCT High Court in Abuja that he processed billions of naira in cash deposits linked to ex-CBN Governor Godwin Emefiele
- Prosecution witness Richard Agulu said he received the funds from Emefiele's personal assistant and paid them into two company accounts
- The EFCC is prosecuting Emefiele on a 20-count amended charge involving alleged fraud totalling ₦7.8 billion, to which he has pleaded not guilty
A former Zenith Bank employee has told the Federal Capital Territory High Court in Abuja that he personally handled cash deposits worth billions of naira on behalf of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele, with instructions routed through Emefiele's personal assistant.
The testimony was given by Richard Agulu, the Economic and Financial Crimes Commission's (EFCC) third prosecution witness, during the ongoing trial before Justice Yusuf Halilu on Tuesday, July 7.
Source: Twitter
Agulu told the court that Eric Ocheme, identified as Emefiele's personal assistant, would contact him by telephone to arrange the receipt of large cash amounts.
Those funds were subsequently paid into accounts held by two companies, Ifeabigo Integrated Services and Kelvito Integrated Services, or temporarily stored in the bank's vault, Vanguard reported.
How Agulu handled the deposits
During cross-examination by defence counsel Mathew Burkaa (SAN), Agulu maintained that he acted strictly on Ocheme's verbal instructions, which he said originated from Emefiele himself.
He insisted that every transaction followed standard banking procedures and that he had received verbal clearance from senior colleagues within the bank to manage the former governor's accounts.
"For every transaction, I followed normal banking procedures. I was given a verbal waiver by my superiors to attend to the defendant's transactions," Agulu told the court.
When pressed to name the bank officials who had authorised him verbally, the witness declined to disclose their identities, Daily Trust reported.
He maintained throughout the session that he carried out only the responsibilities assigned to him and that the deposits were backed by proper internal approvals.
Justice Halilu subsequently adjourned proceedings to allow the prosecution to continue presenting its case.
Emefiele's legal battles
The EFCC is prosecuting the former CBN governor on an amended 20-count charge that includes alleged criminal breach of trust, conspiracy, forgery, unlawful possession of property and conferring corrupt advantage.
The total sum at the centre of the Abuja case stands at approximately ₦7.8 billion. Emefiele has entered a not guilty plea on all counts.
Investigators allege that large cash sums were channelled through Kelvito Integrated Services and Ifeabigo Integrated Services, companies they claim were connected to transactions involving the former governor.
Tuesday's testimony from Agulu forms part of the prosecution's effort to show how those funds were allegedly collected, processed and held.
Emefiele's legal troubles extend beyond Abuja.
He is simultaneously facing separate criminal proceedings in Lagos covering alleged abuse of office, unlawful gratification and foreign exchange transactions running into billions of naira and millions of dollars.
The former apex bank chief was suspended from office in June 2023 and has consistently denied all allegations levelled against him across the multiple cases.
Emefiele's trial: Judge refuses to step down
Legit.ng earlier reported that former CBN Governor Godwin Emefiele's request that Justice Rahman Oshodi of the Lagos State Special Offences in Ikeja should recuse himself from his case has been rejected.
Justice Oshodi maintained that the allegations of the defence counsels were unsustainable because there was no substantial evidence to back it up. According to the judge, the hearing has been going on with the utmost fairness, and the allegations of lack of fairness did not have ground.
Source: Legit.ng
