The Federal Ministry of Finance was not aware of the withdrawal of ₦124.86 billion from the Consolidated Revenue Account by the Central Bank of Nigeria (CBN) during the tenure of former Governor Godwin Emefiele, a prosecution witness has told the Federal Capital Territory High Court in Abuja.
Ali Mohammed, a Director in the Ministry of Finance, gave the testimony on Tuesday while appearing as the 10th prosecution witness in the Economic and Financial Crimes Commission (EFCC) case against Emefiele. He told Justice Maryanne Anenih that none of the three divisions under his supervision had any knowledge of the transaction.
Mohammed said the ministry became aware of the withdrawal after receiving an inquiry from the Special Investigator probing activities at the CBN. He said he subsequently contacted the relevant divisions within the ministry and wrote to the Office of the Accountant-General of the Federation (OAGF) through the Permanent Secretary to determine whether the transaction had been authorised.
According to the witness, the OAGF responded that it had no knowledge of the transaction and classified the withdrawal as a direct debit by the CBN. He explained that this meant the funds were withdrawn by the apex bank without recourse to another government office. The documents exchanged between the Ministry of Finance and the OAGF were subsequently tendered and admitted as exhibits without objection from Emefiele’s defence counsel, Olalekan Ojo, SAN.
The witness further told the court that, ordinarily, the OAGF and the Ministry of Finance would be involved before funds could be withdrawn from the Consolidated Revenue Fund. The trial was adjourned until Wednesday, October 7, 2026, for the defence to cross-examine the witness and for continuation of proceedings.
Emefiele is facing a four-count charge brought by the EFCC, relating to alleged unlawful acts and disobedience to lawful directives in connection with the naira redesign policy and other transactions during his tenure as CBN governor. The allegations remain subject to determination by the court.
