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How Former CBN Governor, Godwin Emefiele Disbursed Over ₦1.6bn In Cash – Witness
The trial of the former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, continued on Wednesday, January 21, 2026, before Justice Yusuf Halilu of the Federal Capital Territory, FCT, High Court, Maitama, Abuja, with detailed testimonies from the third and second prosecution witnesses, shedding light on alleged complex cash movements and bank transactions running into billions of naira.
Emefiele is being prosecuted by the Economic and Financial Crimes Commission, EFCC, on an eight-count charge bordering on criminal breach of trust, conspiracy, forgery and unlawful possession of properties suspected to be proceeds of crime to the tune of ₦7,831,002,396.
Led in evidence by Rotimi Oyedepo, SAN, the witness, Prosecution Witness 3, PW3, Richard Agulu, a staff of the Nigerian Communications Commission, NCC, told the court that he joined the Commission in 2023 after working with Zenith Bank from July 2007 to March 2023. He said he served in the Maitama branch of the bank and some others.
Agulu recalled that while he was at Zenith Bank, Jim Ovia was the Managing Director before Godwin Emefiele took over the position. According to him, Emefiele regularly visited the Abuja branches and left Zenith Bank in 2014 when he was appointed Governor of the CBN.
The witness also told the court that he knew one Eric Ocheme, who was a staff of Zenith Bank before moving to the Central Bank of Nigeria to work as Emefiele’s personal assistant.
Explaining the nature of his dealings with the defendant, PW3 said that while at Zenith Bank, staff salaries and entitlements were paid through accounts domiciled with the bank. He added that, in the course of his duties, transactions occurred involving Emefiele and Eric.
“My Lord, Mr. Eric, as the personal assistant to the defendant, used to run errands for him. On the defendant’s instruction, I used to receive cash from Eric and disburse same when needed,” he testified.
According to PW3, the cash he received was either warehoused in the bank’s vault or deposited into certain accounts. When asked on whose behalf he received the funds, he stated clearly that he received the cash on behalf of the defendant, Godwin Emefiele.
Although he acknowledged that Emefiele had an account with Zenith Bank, PW3 said the funds were not paid into the defendant’s personal account but were kept and disbursed strictly based on instructions conveyed through Eric.
PW3 was shown Exhibits B, C and D and identified Exhibit B as the account of Ifeabigo Integrated Services. He told the court that the account belonged to a friend of his, Mr. Peters Adebayo, a businessman involved in construction, agency and merchandising, who resides in Abuja.
The witness said that between 2020 and 2022, he lodged several sums into the Ifeabigo Integrated Services account using funds he received from Eric on behalf of the defendant. He then proceeded to analyse the transactions in chronological order.
According to him, on February 3, 2021, two transfers of ₦20 million and ₦30 million, totaling ₦50 million, were paid into the account. This was followed by a ₦25 million transfer on February 24, 2021.
On March 4, 2021, PW3 said he personally deposited ₦19 million and ₦12.5 million in cash. On March 9, 2021, further deposits of ₦14 million and ₦9 million were made. On March 31, 2021, ₦50 million was received by transfer, while an additional ₦30 million was deposited in cash on the same day.
He told the court that on April 15, 2021, ₦24 million was deposited in cash, while on April 21, 2021, two transfers of ₦99 million each were credited into the account. On May 10, 2021, ₦19 million and ₦13 million were deposited, and on June 17, 2021, a transfer of ₦72 million was received.
The witness testified that on June 28, 2021, multiple deposits totaling ₦60 million were made, followed by a cash deposit of ₦50 million on July 1, 2021. On July 12, 2021, two cash deposits of ₦100 million and ₦70 million were lodged, while a transfer of ₦99 million followed on July 14, 2021.
According to the witness, on August 18, 2021, he deposited ₦40 million and ₦45 million in cash. On August 25, 2021, eight deposits were made into the account, comprising six deposits of ₦50 million each, as well as ₦25 million and ₦5 million.
PW3 told the court that on the same August 25, 2021, acting on instructions from the defendant through Eric, he transferred ₦600 million and ₦300 million from the Ifeabigo Integrated Services account to MG Properties Limited.
He further identified Exhibit C as the account of Kelvito Integrated Services and said that ₦700 million was transferred from that account to MG Properties Limited on the same day.
In his words, “I transferred a total sum of ₦1.6 billion to MG Properties Limited on the defendant’s instruction through Mr. Eric.”
He added that additional transfers of ₦90 million, ₦85 million and ₦50 million were received into the account on August 25, 2021, while on August 30, 2021, three deposits of ₦50 million, ₦60 million and ₦50 million were made.
PW3 further testified that on September 2, 2021, four transfers of ₦92 million, ₦91 million, ₦93 million and ₦24 million were received into the account from Ace Frozen Foods Ventures. On the same day, he said there were structured cash withdrawals involving 22 withdrawals of ₦10 million each and one withdrawal of ₦5 million.
“Mr. Eric came to pick the cash, and I made the withdrawals for him,” he said.
According to PW3, deposits and transfers continued through October, November and December 2021 and into January 2022, involving repeated cash lodgments and account-to-account transfers, all of which he said he carried out on behalf of the defendant through Eric.
He explained that during some of the deposits, he instructed bank staff to use the narration “CD/Peter Adebayo,” being the name of the account signatory, to reflect the lodgments.
PW3 also told the court that similar cash transactions occurred in Exhibit C, the Kelvito Integrated Services account, including multiple cash deposits on August 25, 2021, and the ₦700 million transfer to MG Properties Limited.
Asked what the ₦1.6 billion transferred to MG Properties was meant for, the witness said he did not know the purpose of the payment at the time.
He further disclosed that he was invited and questioned by the EFCC over the transactions.
“I was confronted with these transfers by the EFCC, and I confirmed that I was instructed to make the transfers to MG Properties by Eric on behalf of the defendant. I do not know the purpose of the transfers,” he said.
Under cross-examination, PW3 confirmed that he worked in the banking sector for 17 years and agreed that only account holders or authorised signatories could lawfully approve withdrawals. He added that, in the transactions he described, the owners and signatories to the accounts authenticated the withdrawals.
Earlier in the proceedings, the prosecution also called Olomotam Egoro, a compliance officer with Access Bank, as Prosecution Witness 2 (PW2).
Egoro told the court that he joined Access Bank in May 2020 and that his duties include handling regulatory enquiries and liaising with law enforcement agencies. He testified that sometime in June 2025, Access Bank received a request letter from the EFCC concerning the account of Ace Frozen Foods Ventures.
According to him, the EFCC requested the customer’s account details, mandate, statement of account from inception to May 2025 and a certificate of identification. He said his team processed the request by retrieving the account information from the bank’s system and responded formally to the EFCC.
PW2 identified the bank’s response dated May 29, 2025, which was tendered and admitted in evidence as Exhibit E. Under cross-examination, he confirmed that the name of the defendant did not appear anywhere in the documents.
He further told the court that the mandate holders of the Ace Frozen Foods Ventures account were Kamaru Lasisi and Raphael Ibhafidon Uguomore, adding that the documents did not disclose the individual owners of the company.
Justice Halilu thereafter adjourned the matter to February 16, 2026, for continuation of trial and further cross-examination.
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Gov. Makinde Promotes 14 High Chiefs To Obas, Presents Staff Of Office
Oyo State Governor Seyi Makinde, on Friday elevated 14 high chiefs and Baales in Oyo town to the status of crown-wearing Obas.
Representing the governor, Deputy Governor Bayo Lawal presented the staff and instruments of office at a coronation ceremony held at Oliveth Heights in Oyo West Local Government Area.
The elevation is intended to strengthen traditional institutions and enhance grassroots governance.
The newly elevated monarchs include the Alaaguo of Aguoland, Oba David Oyediran; the Baba Eyaji of Oyo, Oba Afonja Mukaila; the Alajagba of Oyo, Oba Samuel Odurinde; the Ona-Isokun of Oyo, Oba Isiaka Tella-Titiloye; the Onimileke of Imileke, Oyo, Oba Fakayode Alowonle; the Onigbudugbu of Gbudugbu, Oyo, Oba Salawu Oyeniran; the Oloodu of Ojongbodu, Oba Olaniyi Adegboye; and the Alapa-Ara of Apa-Ara, Oba Tijani Ajeigbe.
Others are the Onidode of Idodeland, Oba Oyeleke Yusuff; the Iba Samu of Oyo Empire, Oba Lamidi Jimoh; the Alago-Oja of Ago-Oja Land, Oba Ganiyu Busari; the Agbaaki of Oyo, Oba Asimiyu Jimoh; the Alakeitan of Akeitan, Oba Jimoh Oyeleye; and the Elepe of Iseke, Oba Abel Oyekan.
Makinde, whose speech was read by his deputy, said the elevation of the chiefs underscored his administration’s commitment to strengthening traditional institutions and promoting peace and development at the grassroots.
He, therefore, congratulated the newly crowned monarchs, saying their ascension to the status of crown-wearing Obas was both a recognition of their leadership and a reaffirmation of the enduring relevance of traditional institutions in governance, peacebuilding, and grassroots community development.
The governor said, “The State Government holds traditional rulers in high esteem because of their roles as custodians of culture, promoters of unity and partners in progress.
“I want to urge you all (the monarchs) to uphold integrity, fairness and service to your people. Your reigns should be characterized by peace, inclusiveness and support for government programmes aimed at improving citizens’ welfare in their domains.”
In his welcome address, the Commissioner for Local Government and Chieftaincy Matters, Ademola Ojo, described the event as historic and culturally significant, adding that it represented not just the installation of royal fathers but a reaffirmation of Oyo’s rich heritage and enduring traditions.
He said the Yoruba traditional institution, one of the oldest and most revered in Africa, remains central to governance, culture, and unity in Oyo land.
“The beaded crown is a sacred symbol of authority, service and divine responsibility, and those who wear it are called to lead with integrity, courage and compassion.”
The commissioner commended the governor for approving and sponsoring the programme, adding that the coronation of 14 Obas at once symbolised unity, continuity, and renewal within Oyo land.
He reaffirmed the government’s commitment to strengthening collaboration with traditional rulers for conflict resolution, cultural preservation, and community mobilisation.
Dignitaries at the event included the Olubadan of Ibadanland, Oba Rashidi Ladoja, represented by the Asipa Olubadan, Oba Hamidu Ajibade; former Speaker of the state Assembly, Monsurat Sunmonu; members of the 10th Oyo Assembly from the Oyo geopolitical zone; top government functionaries; and political leaders.
The PUNCH reports that the Supreme Court of Nigeria, sitting in Abuja, has been asked to restrain the state government from creating, recognising, or elevating the chieftaincy stool of Baale Ago-Oja, pending the determination of an appeal before it.
In a motion on notice dated January 30, 2026, and filed in Appeal No. SC/404/2018, the Alaafin of Oyo is seeking orders of interlocutory and mandatory injunctions against the Governor of Oyo State and the Attorney-General of Oyo State.
The motion, brought pursuant to Order 2 Rule 28(1) of the Supreme Court Rules, 2014 (as amended), and the inherent powers of the court under Section 6(6)(b) of the 1999 Constitution, seeks to halt all actions relating to the Baale Ago-Oja chieftaincy pending the final determination of the appeal.
The suit was instituted by the late Alaafin of Oyo, Oba Lamidi Adeyemi III.
The Alaafin is asking the apex court to restrain the governor and the attorney-general from “creating or re-creating, establishing or re-establishing the chieftaincy stool of Baale Ago-Oja” and from “appointing, approving or recognising” Alhaji Ganiyu Busari as holder of the stool.
He is also seeking an order restraining the state government from “recognising or further recognising, dealing or further dealing with” Busari as Baale Ago-Oja, as well as stopping any elevation of the chieftaincy from Part III (Minor Chief) to Part II (Recognised Chief).
In addition, the applicant is asking the court to restrain the respondents from “installing or crowning the appellant as the Oloja of Ago-Oja on February 13, 2026, at Olivet High School, Oyo, or at any other venue whatsoever.”
The motion further urges the Supreme Court to set aside Oyo State Gazette No. 01, Vol. 50 of January 17, 2025, “in so far as it relates to the elevation of the Baale Ago-Oja chieftaincy.”
According to the motion, “any attempt to revive, recognise or elevate a chieftaincy stool already declared non-existent by courts of competent jurisdiction amounts to a disregard of subsisting judgments and is capable of prejudicing the appeal now pending before this Honourable Court.”
The applicant, therefore, urged the apex court to “grant the reliefs sought and make such further orders as this Honourable Court may deem fit in the circumstances of this case.”
The appeal and accompanying motion are yet to be fixed for hearing.
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Nigeria Decides 2027: INEC Unveils Official Timetable And Key Poll Dates
The Independent National Electoral Commission (INEC) has officially announced the timetable for the 2027 General Elections. Chairman Prof. Joash Amupitan released the schedule on Friday, February 13, 2026, during a press conference in Abuja.
He said Governorship and state assembly elections will also hold the same day on March 6, 2027, two weeks after the presidential election. Amupitan said with the announcement of the time table the Commission had formally set in motion the electoral process in line with constitutional and legal requirements.
He explained that the tenure of the President, Vice President, Governors, and Deputy Governors except in Anambra, Bayelsa, Edo, Ekiti, Imo, Kogi, Ondo, and Osun states will expire on May 28, 2027, while the National and State Assemblies dissolve on June 8, 2027.
Amupitan said pursuant to Sections 76(2), 116 (2), 132 (2) and 178 (2) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), elections to the said offices shall hold not earlier than 150 days and not later than 30 days before the expiration of the term of office of` the last holder of that office.
He added that the action is taken pursuant to the provisions of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and section 28(1) of the Electoral Act, 2022, which mandate the Commission to publish the Notice of Election not later than 360 days before the date appointed for the election.
“In exercise of the powers conferred on the Commission by the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and the Electoral Act, 2022 and of all other powers enabling it in that behalf, the Commission hereby sets in motion the electoral process for the 2027 General Elections and fixes the date for the 2027 General Elections as follows:
“Presidential & National Assembly- 20th February 2027. Governorship & State Houses of Assembly- 6th March 2027”
INEC in the timetable published said political parties are required to submit their registers of members to INEC between April 22 and May 21, 2026, ahead of party primaries which will take place from May 22 to June 20, 2026.
The submission of nomination forms for presidential and National Assembly candidates will run from July 14 to July 28, 2026, while governorship and state assembly candidates will submit their forms between August 11 and August 25, 2026.
INEC said it will publish the personal particulars of candidates (Form EC9) on August 4, 2026, for national elections, and September 1, 2026, for state elections.
The commission has also outlined deadlines for withdrawal or replacement of candidates, publication of final candidate lists, and commencement of public campaigns.
Campaigns for the presidential and National Assembly elections are set to start on September 23, 2026, while state-level campaigns will begin on October 7, 2026.
INEC said campaigning ends 24 hours before the respective election dates.
Other key dates include the publication of the official register of voters on January 11, 2027, and the notice of poll on January 21, 2027, in line with the Electoral Act, 2022.
Submission of polling agents’ names is due by December 22, 2026, for national elections, and January 5, 2027, for state elections.
Amupitan said the detailed Timetable and Schedule of Activities have been uploaded to the Commission’s official website and circulated to all registered political parties and relevant stakeholders.
He directed all the 36 Resident Electoral Commissioners and that of the FCT are directed to publish this Notice in each constituency in respect of which an election is to be held.
He said the dates reflect the commitment of the commission to ensuring that our electoral processes are transparent, credible, and adhere to the provisions of our laws.
Amupitan warned against speculation by some individuals who had circulated unofficial election timetables, describing such acts as misleading.
He also noted that INEC is closely monitoring the ongoing Electoral Act amendment process at the National Assembly, but will act strictly according to existing law until any changes are formally enacted.
The Chairman urged political parties to strictly adhere to the timetable for primaries, submission of nomination forms, and campaigns, and stressed that INEC would enforce compliance to ensure credible elections.
Highlighting the Commission’s preparedness, Amupitan said INEC is committed to expanding the use of technology, updating the voters’ register, collaborating with security agencies, and intensifying voter education ahead of the elections.
He called on all political actors and citizens to ensure peaceful conduct throughout the electoral process, stating, “The success of the 2027 General Elections is a collective responsibility.
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Professor Ayeleru @ 60: Portrait of a Life that Teaches Beyond the Classroom
By Dare Adekanmbi
Today, we must pause—deliberately—from whatever else may beckon for our attention. Let associates, friends, colleagues, and well-wishers, from far and near, dust off their dancing shoes and, bedecked in their finest apparel, make their way to Trenchard Hall, University of Ibadan. There, we the participants converge to celebrate the archpriest as he marks his diamond anniversary.
Three scores, as street lingo would have it, no be joke—especially against the backdrop of the 2025 UN data that places Nigeria’s average life expectancy at 54.6 years.
Who is today’s archpriest? He is a man with clean hands and a pure heart; one who does not put his trust in idols; blessed by God with a sound mind in a healthy body: Professor Lateef Babatunde Ayeleru, a fellow of the Nigerian Academy of Letters, FNAL, and immediate past Director/Chief Executive Office of the Nigeria French Language Village, Badagry, Lagos State.
I met Professor Ayeleru during my journalism career, specifically in the build-up to the 2015 governorship election in Oyo State. As an investigative journalist with a penchant for exclusives, I engaged political grandees across party lines within the state’s ever-shifting political terrain. At that time, two dominant schools of thought shaped Oyo politics: the Rashidi Ladoja Bodija School and the Abiola Ajimobi Marines. Prof, as the celebrant is fondly called, was one of the leading eggheads of the Bodija School.
We bonded almost instantly—drawn together by our shared Humanities background and our common roots in Obafemi Awolowo University, Ile-Ife, that fiery furnace where many of us were forged.
Several encounters stand out. At the height of preparations for Governor Abiola Ajimobi’s second-term bid, his spokesperson published an article in the Tribune containing what many considered outlandish claims against Senator Rashidi Ladoja, who had emerged as the sitting governor’s most formidable nemesis. Prof and I held a virtual meeting to dissect the piece. Before dawn the next day, an intellectually robust response had germinated from his fecund pen.
It was my professional duty to ensure Ladoja’s right of reply, and Prof’s article was consequently deployed—lavishly—by the paper. The rejoinder not only rattled Governor Ajimobi but reportedly compelled him to instruct his media team to temporarily sheath their swords against Ladoja. Such was the force of Prof’s reasoned intervention. His writings elevated political discourse in Oyo State and resonated even on the national stage.
Yet his contributions extended far beyond polemical writing. Professor Ayeleru convened like-minded academics in his office to engage Ladoja in rigorous intellectual sessions—cross-fertilising ideas and preparing him for the gubernatorial debate organised by Splash FM, the state’s pioneering private radio station.
In celebrating my diamond mentor, we are not merely marking the passage of time; we are honouring six decades of excellence, service, and inspiration. A distinguished scholar, Prof firmly believes that knowledge without humility leads only to ruin. Outside the arena of intellectual engagement, one could scarcely guess that he has attained the summit of academic pursuit.
Students and close associates admire his humility, quiet strength, and unwavering commitment to fairness and truth. His principled stance has always been clear: true achievement is not measured solely by the volume of publications, but by the lives enlightened, enriched, and transformed along the way.
At 60, the life of this Professor of French, Applied Linguistics and African Literatures reminds us that greatness is sustained not by position, but by consistency of values and depth of purpose. He has mentored generations with patience, discipline, and generosity. Many of his former students are now professors, professionals, leaders, and scholars who embody the ideals he modelled—explaining why his influence remains potent far beyond the classroom. Professor Ayeleru stands as a moral exemplar—demonstrating that leadership is best expressed through service, wisdom, and ethical clarity.
My family and I join numerous well-wishers to celebrate Professor Ayeleru and this remarkable milestone with gratitude and admiration. It is my earnest prayer that his pitcher will not break at the fountain, and that the Almighty God will continue to strengthen and confirm him in all goodness. Félicitations et joyeux anniversaire, mon chef.
Adekanmbi, one of Professor Tunde Ayeleru’s numerous mentees, wrote in from Ibadan, Oyo State.
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