A Deputy Director in charge of Banking Supervision at the Central Bank of Nigeria (CBN), Malam Bashirudeen Maishanu, has accepted responsibility for the disappearance of $6.2 million from the apex bank during the tenure of former CBN Governor, Godwin Ifeanyi Emefiele.
Maishanu made the admission on Thursday while testifying before the High Court of the Federal Capital Territory, Abuja, during Emefiele’s ongoing trial on procurement-related charges. He specifically accepted responsibility for the withdrawal of $2.5 million from the total amount.
Emefiele is standing trial before Justice Hamza Muazu on an amended 20-count charge bordering on criminal breach of trust, forgery, abuse of office, conspiracy, and obtaining money by false pretence. The charges were filed by the Economic and Financial Crimes Commission (EFCC) in suit number CR/577/2023.
The prosecution alleged that Emefiele knowingly obtained $6.23 million meant for international election observers during the 2023 general election. He was also accused of awarding vehicle supply contracts worth over N1.21 billion to April 1616 Investment Limited, a company allegedly linked to a CBN staff member. Emefiele has pleaded not guilty to all charges.
Under cross-examination by defence counsel, Matthew Burkaa SAN, Maishanu told the court that he had admitted before a Special Investigative Panel appointed by President Bola Tinubu that he was answerable for the missing funds. He said he became involved through instructions received from Emefiele’s personal assistant, Eric Ocheme, who is currently unreachable.
Maishanu said he was unaware that the transaction was fraudulent until documents surfaced showing that the signatures of former President Muhammadu Buhari and former SGF, Boss Mustapha, were forged. He maintained that he neither met Emefiele nor received any instruction directly from him.
The witness disclosed that he and two others were given $2.5 million from the funds, describing the amount as suspicious. He added that he had refunded a substantial portion of the money through the special investigator and had been sanctioned by the CBN. The case was adjourned to January 30 for continuation.
