BY TAIBAT UMMI YAKUBU

An Economic and Financial Crimes Commission (EFCC) investigator has given a detailed account of how former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, allegedly acquired an extensive portfolio of expensive properties through associates and companies while occupying the nation’s highest banking office.

The investigator, Alvan Gurumnaan, told an Ikeja Special Offences Court on Thursday that investigations uncovered several properties allegedly linked to Emefiele, including luxury mansions in Lagos, an estate of about 750 houses in Abuja, an industrial warehouse and an 11-storey building containing 94 luxury apartments.

Gurumnaan, who was testifying before Justice Rahman Oshodi, said the properties were allegedly acquired through proxies and individuals who acted on Emefiele’s behalf, with some of the assets already forfeited to the Federal Government following court decisions.

Emefiele is standing trial on a 19-count charge bordering on alleged gratification, corrupt demands and abuse of office, involving transactions valued at $4.5 billion and ₦2.8 billion. His co-defendant, Henry Omoile, is facing a separate three-count charge over the alleged unlawful acceptance of gifts.

Led in evidence by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), the EFCC investigator explained that the investigation began following intelligence received by a special operations team he headed. He said Emefiele’s statement was recorded during the investigation.

According to the witness, investigators discovered that Emefiele allegedly abused his position as CBN governor by creating a system that made it extremely difficult for ordinary Nigerians and business owners to access foreign exchange needed for legitimate commercial activities.

He alleged that businesses desperate to obtain foreign exchange were forced to comply with special arrangements allegedly put in place by Emefiele before they could access the funds.

Gurumnaan cited the case of a company that allegedly paid millions of dollars to Emefiele through his staff member, Monday Osazuwa.

He told the court that Osazuwa admitted during interrogation to receiving approximately $17 million from the company and handing the money to Omoile, who subsequently delivered it to Emefiele.

The investigator also mentioned Source Computer, alleging that its managing director was compelled to provide money to Emefiele before the company could receive payment for its contract.

Beyond the alleged financial transactions, Gurumnaan told the court that investigators traced numerous properties to the former CBN governor, claiming that their estimated value was far beyond what could reasonably be explained by his legitimate earnings while in office.

He said several court judgments had already gone in favour of the EFCC, resulting in the forfeiture of assets and properties estimated to be worth about ₦100 billion.

Among the individuals allegedly used to acquire the properties was a lawyer identified as Ifeanyin Omeke. Gurumnaan said investigators traced Omeke to his office, where more than $2 million in cash was reportedly recovered.

He further told the court that Omeke served as secretary to several companies and admitted during investigations that he acted as a front for Emefiele.

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Some of the properties allegedly recovered include a pair of twin duplexes in Lekki Phase 1 and two mansions along Queens Drive, Ikoyi, Lagos.

The investigator also disclosed that Emefiele allegedly used his associates to acquire a factory under construction in his hometown of Agbor, Delta State, which has since been forfeited to the Federal Government.

Another property identified by the EFCC was located on Adekunle Lawal Street, Ikoyi, Lagos. Gurumnaan alleged that the property, which previously belonged to the Nigerian Printing and Minting Company, was acquired by Emefiele through a transaction in which he allegedly sold the property to himself while serving as chairman of the company's board.

The property, described as a block of eight flats in Ikoyi, was also reportedly forfeited to the Federal Government.

The witness further revealed that investigators recovered another warehouse allegedly belonging to Emefiele in Ogun State, on the outskirts of Lagos.

According to him, the warehouse contained several containers whose estimated value ran into hundreds of billions of naira.

He also identified an 11-storey building under construction, comprising approximately 94 luxury flats, as another property allegedly linked to the former CBN governor.

In another major revelation, Gurumnaan told the court that investigators recovered an estate containing about 750 houses allegedly belonging to Emefiele in the Lokogoma District of Abuja.

During the proceedings, Emefiele’s lead counsel, Ojo Olalekan (SAN), and Omoile’s lawyer, Kazeem Gbadamosi, objected to portions of the investigator’s testimony, arguing that the evidence was not relevant to the charges before the court.

However, Justice Oshodi dismissed the objection, ruling that the defence teams would have the opportunity to challenge the witness during cross-examination.

Continuing his testimony, Gurumnaan said Emefiele was given an opportunity to respond to some of the findings during the investigation and while his statement was being recorded but allegedly failed to address the allegations.

The court adjourned the case until November 13 for the continuation of the trial.

All allegations remain subject to determination by the court.