A former employee of Zenith Bank has told the Federal Capital Territory High Court in Abuja that he processed cash deposits worth billions of naira for former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele. The witness said he acted on instructions allegedly passed through Emefiele’s personal assistant.
The testimony was given as the Economic and Financial Crimes Commission (EFCC) continued prosecuting Emefiele over an alleged ₦7.8 billion fraud case before Justice Yusuf Halilu. The former CBN governor has pleaded not guilty to all the charges.
Richard Agulu, the prosecution’s third witness, said his duties at Zenith Bank included receiving large cash deposits from Eric Ocheme, whom he identified as Emefiele’s personal assistant. According to him, the money was either paid into the accounts of Ifeabigo Integrated Services and Kelvito Integrated Services or kept in the bank’s vault.
During cross-examination by defence counsel Mathew Burkaa (SAN), Agulu said he acted only on instructions communicated by Ocheme through telephone conversations. He told the court that the directives came from Emefiele.
The witness insisted that every transaction followed the bank’s standard procedures. He added that his superiors gave him a verbal waiver to handle the transactions because of their sensitive nature.
Agulu, however, declined to identify the bank officials who allegedly approved the arrangements when questioned by the defence. He maintained that he simply carried out the duties assigned to him and acted with the approval of his superiors.
Justice Yusuf Halilu later adjourned the case to allow the EFCC to continue presenting its evidence against the former CBN governor.
Emefiele is facing an amended 20-count charge that includes alleged criminal breach of trust, conspiracy, forgery, unlawful possession of property and conferring corrupt advantage. The EFCC alleges that about ₦7.8 billion was involved in the case.
According to the anti-graft agency, large amounts of cash were deposited into accounts operated by companies, including Kelvito Integrated Services and Ifeabigo Integrated Services. Investigators claim the companies were linked to transactions involving the former CBN governor.
The Abuja trial is one of several criminal cases involving Emefiele. He is also standing trial in Lagos over separate allegations, including abuse of office, unlawful gratification and foreign exchange-related transactions involving billions of naira and millions of dollars.
Despite the ongoing legal battles, Emefiele has consistently denied all allegations against him. His legal team continues to challenge the charges in court as the prosecution presents more witnesses.
