Assistant Manager Ifeoma Ogbonnaya testified that former CBN Governor Godwin Emefiele used Zenith Bank to transfer millions of naira to his wife’s account through various companies, revealing detailed transactions and communication methods.
In a recent court session, Mrs. Ifeoma Ogbonnaya, an Assistant Manager at Zenith Bank, testified about the former Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele's alleged illicit fund transfers.
Ogbonnaya detailed how Emefiele redirected substantial amounts from the CBN to his wife, Mrs. Margaret Emefiele’s accounts through multiple companies.
Emefiele is under trial for abuse of office and fraud involving $4.5 billion and ₦2.8 billion. The Economic and Financial Crimes Commission (EFCC) led the prosecution, with Ogbonnaya being their fifth witness.
During her testimony at the Ikeja Special Offences Court, Ogbonnaya explained that Emefiele used Zenith Bank to transfer millions in tranches to companies linked to his wife. These companies included Amswing Resources and Solution, Limelight Dimensional Service Ltd., Omec Support Service Ltd., and Mango Farm.“Limelight Dimensional Service Ltd. managed CBN’s facilities, and transactions related to power and repairs were always handled by vendors,” Ogbonnaya stated.
She further explained her role in managing these accounts since she joined Zenith Bank in 2006, noting she received transfer instructions from Mrs. Emefiele and two other individuals, now deceased, who worked for the Emefiele family.
Ogbonnaya recounted specific transactions, such as a ₦18.9 million and ₦1.8 million transfer from the CBN to the private companies in March 2015.
Additionally, substantial cash flows from the CBN to these accounts occurred on various dates, including ₦43 million in February 2021 and ₦93.1 million in May 2023.
The court admitted bundles of documents evidencing these transactions after no objections from the defense counsel. Ogbonnaya noted these documents were printed from her office computer and verified by Zenith Bank’s compliance officer.
The defense counsel did not object to the document admissibility, and the court scheduled the next trial session for July 10, 2024. Emefiele and his co-defendant, Henry Omoile-Isioma, have pleaded not guilty to all charges. The trial continues as the court seeks further clarity on these transactions.
