I Deposited Billions In Cash For Emefiele – Ex-Banker

A former Zenith Bank employee has told the Federal Capital Territory High Court in Abuja that he processed cash deposits running into billions of naira for former Central Bank of Nigeria Governor, Godwin Emefiele. He said the transactions were carried out on instructions allegedly passed through the ex-CBN governor’s personal assistant. The testimony came as […]

A former Zenith Bank employee has told the Federal Capital Territory High Court in Abuja that he processed cash deposits running into billions of naira for former Central Bank of Nigeria Governor, Godwin Emefiele.

He said the transactions were carried out on instructions allegedly passed through the ex-CBN governor’s personal assistant.

The testimony came as the Economic and Financial Crimes Commission, EFCC, continued the prosecution of Emefiele in the alleged ₦7.8 billion fraud case before Justice Yusuf Halilu.

The prosecution’s third witness, Richard Agulu, said his role while serving at Zenith Bank involved receiving large cash sums from Eric Ocheme, identified as Emefiele’s personal assistant.

The money is then paid into the accounts of Ifeabigo Integrated Services and Kelvito Integrated Services or kept in the bank’s vault.

Agulu, while being cross examined by defence counsel, Mathew Burkaa, (SAN), said he acted strictly on instructions communicated by Ocheme through telephone conversations.

He added that the directives originated from Emefiele.

According to him, every transaction was processed in line with the bank’s established procedures despite the unusual nature of the assignments.

“For every transaction, I followed normal banking procedures. I was given a verbal waiver by my superiors to attend to the defendant’s transactions,” the witness told the court.

He, however, declined to reveal the identities of the bank officials who allegedly authorised him verbally to manage the transactions when pressed during cross examination.

The witness maintained that his handling of the deposits was backed by approvals from his superiors, insisting that he merely carried out the banking responsibilities assigned to him.

Justice Halilu subsequently adjourned further proceedings in the trial as the prosecution continues to present its case against the former apex bank governor.

The trial is one of several criminal cases instituted against former Central Bank of Nigeria (CBN) following his suspension from office in June 2023.

In the case before Justice Yusuf Halilu of the FCT High Court, Abuja, the EFCC is prosecuting him on an amended 20 count charge involving alleged criminal breach of trust, conspiracy, forgery, unlawful possession of property and conferring corrupt advantage.

The alleged fraud is put at about ₦7.8 billion. Emefiele has pleaded not guilty to all the charges.

The EFCC alleged that large sums of cash were lodged in accounts operated by companies, including Kelvito Integrated Services and Ifeabigo Integrated Services, which investigators claim were used in transactions linked to the former CBN governor.

Tuesday’s testimony by former Zenith Bank employee Richard Agulu forms part of the prosecution’s effort to establish how the funds were allegedly received, processed and warehoused.

Apart from the Abuja proceedings, Emefiele is also facing separate criminal trials in Lagos over alleged abuse of office, unlawful gratification and foreign exchange related transactions running into billions of naira and millions of dollars.

The former apex bank chief has consistently denied all allegations and is contesting the charges in court.