Finance Ministry had no record for approval of N124.86bn withdrawn under GODWIN EMEFIELE, EFCC Witness tells court

Tuesday, October 6, 2026 - The Federal Ministry of Finance had no record or knowledge of the N124.86 billion withdrawn from the Consolidated Revenue Account by the Central Bank of Nigeria (CBN) under former Governor Godwin Emefiele, an Economic and Financial Crimes Commission (EFCC) witness has told the High Court of the Federal Capital Territory.

The witness, Ali Mohammed, a director within the ministry, testified on Tuesday before Justice Maryanne Anenih that the massive withdrawal bypassed official ministry channels. According to Mohammed, who supervises three divisions under the Home Finance Unit, the transactions came to light after he received an inquiry letter from the presidential special investigator appointed by President Bola Tinubu to probe the apex bank.

Upon receiving the directive, Mohammed convened an emergency meeting with the heads of the three divisions under his purview, all of whom confirmed they had no prior knowledge or record of the funds being pulled from the revenue account. Seeking further clarification, the director formally wrote to the Accountant General of the Federation through the Permanent Secretary of the Ministry of Finance.

The Office of the Accountant General subsequently responded that it held no records of the transaction, concluding that the funds must have been disbursed independently by the central bank. These investigative correspondences were formally tendered to the court and admitted as exhibits without objection from the defence counsel, Olalekan Ojo, SAN.

Further proceedings in the trial have been scheduled for October 7 to allow the defence team to cross-examine the witness.