Godwin Emefiele faces fresh evidence in EFCC’s $4.5bn fraud case as Lagos court admits new documents and adjourns till December
Godwin Emefiele, former Governor of the Central Bank of Nigeria (CBN), is facing fresh hurdles in his ongoing trial as the Lagos State Special Offences Court in Ikeja has admitted additional evidence in the Economic and Financial Crimes Commission’s (EFCC) $4.5 billion fraud case against him.
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The EFCC confirmed in a statement on Thursday that Justice Rahman Oshodi of the Special Offences Court made the ruling during proceedings on October 9, 2025, allowing more documents to be tendered in evidence.
“Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on October 9, 2025, admitted more evidence against a former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in an alleged $4.5bn fraud,” the EFCC said.
Emefiele is currently facing a 19-count charge bordering on criminal breach of trust, abuse of office, and unlawful receipt of gratification.
His co-defendant, Henry Omoile, faces a separate three-count charge for allegedly accepting gifts in his capacity as an agent.
The anti-graft agency added that the case has been adjourned till December 2 and 3, 2025, for a mini-trial.
The latest development marks another critical phase in the prosecution of Emefiele, who was first arraigned in 2023 following investigations into alleged large-scale financial misconduct during his tenure as CBN governor.
Appointed by former President Goodluck Jonathan in 2014 and retained by President Muhammadu Buhari, Emefiele’s tenure was marked by controversial policies, including the 2023 naira redesign and cash withdrawal limits, which drew widespread public criticism.
He has, however, repeatedly denied any wrongdoing, maintaining that all decisions taken during his leadership were in line with legal and national economic frameworks.
In previous hearings, the EFCC tendered several documents, including digital evidence such as WhatsApp chat records allegedly linked to the former apex bank chief.
Defence counsel challenged their admissibility, arguing that proper certification and due process were not followed.
The forensic examination of an iPhone device allegedly connected to the transactions has been another point of contention, with both sides disagreeing over access protocols and authenticity.
The EFCC had earlier disclosed that part of the disputed funds—amounting to billions in naira and foreign currencies—were traced to accounts and properties associated with Emefiele.
In 2024, the Federal High Court in Lagos ordered the interim forfeiture of over $4.7 million, ₦830 million, and several luxury properties allegedly linked to him. Later, another court granted a final forfeiture of assets valued at over ₦12 billion.
Emefiele was suspended in 2023 and arrested by the Department of State Services (DSS) before being re-arraigned on multiple amended charges.
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The EFCC maintains that his prosecution is part of ongoing efforts to ensure accountability and integrity in Nigeria’s financial system.
