David Jaiyeoba, a witness for the Economic and Financial Crimes Commission (EFCC), has revealed that $2.045 million in cash and several property documents were traced to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).
Jaiyeoba testified before the Federal Capital Territory (FCT) High Court in Abuja, on Friday.
Jaiyeoba, the 12th prosecution witness and an EFCC operative, linked these funds and property acquisitions to approvals, bank transactions, and statements obtained during the commission’s investigation.
The witness, led in evidence by Rotimi Oyedepo, EFCC’s Director of Public Prosecutions, pointed to multiple internal memoranda from CBN that approved payments for the renovation, landscaping, power supply and furnishing of Emefiele’s official residence in Ikoyi, Lagos.
The witness explained that one of the exhibits presented in court was an internal CBN memorandum that authorized payments to Architeco Nigeria Limited for renovation work at Emefiele’s residence.
Another contract agreement for landscaping services carried out by the same firm at the property was also tendered.
Additionally, Jaiyeoba identified a CBN memo requesting approval for the payment of N97,998,416.38 to Architeco Nigeria Limited for the supply of office furniture. He confirmed that the payment had been approved by Emefiele.
The witness also referenced Exhibit A8, an internal memorandum related to a contract for installing dedicated power lines at the Ikoyi residence, which was supported by an interim payment certificate bearing the defendant’s approval.
As part of the investigation, the EFCC wrote to Zenith Bank to trace Emefiele’s bank accounts.
Jaiyeoba identified Exhibits ED1, ED2, and ED3 as responses from Zenith Bank regarding transactions related to the former CBN governor’s account. A debit transaction from January 13, 2015, on account number 2020000064 showed a payment of N4 million to Architeco Nigeria Limited.
The investigation ultimately led to the recovery of $2.045 million, along with several properties and their title documents, from the headquarters of Zenith Bank in Lagos.
The witness testified, “The funds, amounting to $2,045,000, along with several properties and title documents, were recovered from Zenith Bank Plc headquarters in Lagos, in the possession of one Mr. Collins Omeke, a lawyer to the defendant.”
He added that Omeke explained he had been instructed by Emefiele to purchase properties and process title documents on his behalf.
Jaiyeoba further stated that Omeke confirmed he had been given cash sums in foreign currency, specifically U.S. dollars, by Emefiele to fund these acquisitions.
Omeke also mentioned that the cash recovered from him had been delivered by Eric Ocheme Udoh, an individual acting on behalf of Emefiele.
According to Omeke, a portion of the money was used for the renovation of some of Emefiele’s properties.
At the close of the session, the prosecution requested that the court adjourn proceedings to March 3, 5, 16, and 17, 2026, for further trial.
Defense counsel Matthew Burkaaa did not oppose the application but raised concerns about the repetition of evidence, noting that an earlier witness, PW7, had already identified approvals related to the transactions.
He warned that the defense would object if this repetition continued in future sittings.
In response, the prosecution defended its approach, arguing that the consistency of its case required such repetition and urged the court to allow it to present its evidence as it deemed appropriate.
Trial judge, Hamza Muazu, expressed concern that the prosecution appeared “too careful” and often required prompting by the court, but assured that he would accommodate the approach.
The judge then adjourned the case to March 5, 16, and 17, 2026, for continued proceedings.
