New Twist in Emefiele Trial: Mounting Delays Threaten Prosecution’s Case
By Fly Cable News
The trial of former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, appears to be drifting toward a critical turning point, as persistent delays and shifting strategies by the prosecution raise fresh concerns about the fate of the case involving the alleged missing $6.23 million from the bank’s Abuja branch.
Indications suggest that the federal government may once again approach the FCT High Court with a request for adjournment, citing the unavailability of a key witness, Commissioner of Police Elohor Edwin Okpoziakeo, who is reportedly engaged in another court proceeding. If granted, this would further stall the testimony of both the police commissioner and Jim Obazee, whose role remains central to the case.
However, legal observers believe the court may be unwilling to accommodate further delays. Having already approved eight adjournments—well beyond the five permitted by law—there is growing speculation that the court could reject any fresh application and, if the prosecution fails to present credible evidence, consider dismissing the case.
Behind the scenes, sources disclose that the prosecution initially intended to rely heavily on the police commissioner as a star witness. That plan was reportedly abandoned at the last minute over concerns that such a move could weaken the case, especially in a matter of this magnitude.
Attention has since shifted back to Obazee, whose investigation into the CBN formed the backbone of the allegations. An official of the Economic and Financial Crimes Commission (EFCC) is said to have reached out to him, and he has indicated readiness to testify if formally invited. Yet, his continued absence in court has fueled suspicions about the direction of the prosecution.
Some insiders allege that keeping Obazee away from the witness stand could be strategic, as his testimony is believed to carry significant weight and could decisively shape the outcome of the trial. Without it, the prosecution risks appearing unprepared, thereby strengthening the defence’s position.
Presiding judge, Justice Hamza Muazu, had earlier issued a firm directive on March 17, mandating the EFCC to produce its key witness by April 27 or face possible legal consequences. The warning came after repeated failures to bring Obazee forward, despite multiple adjournments.
The roots of the case trace back to July 2023, when President Bola Tinubu appointed Obazee, a former chief executive of the Financial Reporting Council, to investigate alleged financial irregularities within the CBN and affiliated government entities. His preliminary findings, submitted in December 2023, pointed to the disappearance of $6.23 million and recommended prosecution of several individuals.
Complicating matters further are reports that some figures initially named in the investigation—such as Boss Mustapha—have now assumed roles as government witnesses. Critics argue that this shift could dilute the strength of the case and blur the lines of accountability.
Beyond the headline allegation, Obazee’s report is said to detail a broader pattern of financial misconduct, including unauthorized currency issuance, controversial “ways and means” financing, disputed COVID-19 expenditures, and the alleged diversion of over N17 billion through multiple financial institutions.
As the next court date approaches, the central question remains whether the prosecution can regain control of its case or whether continued delays and internal inconsistencies will ultimately derail one of Nigeria’s most closely watched financial crime trials.
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