A Special Investigator appointed by President Bola Tinubu, Jim Obaze, has told the Federal Capital Territory (FCT) High Court that former President Muhammadu Buhari and former Secretary to the Government of the Federation (SGF), Boss Mustapha, should also face prosecution over the alleged unlawful withdrawal of $6.2 million from the Central Bank of Nigeria (CBN).
Obaze made the statement on Thursday while testifying as a prosecution witness in the ongoing trial of former CBN Governor Godwin Emefiele, who is facing a 20-count charge of conspiracy, abuse of office and fraud filed by the Economic and Financial Crimes Commission (EFCC).
According to Obaze, Buhari, Mustapha, a CBN staff member identified as Bashirudeen Maishanu, and former members of the CBN board should be investigated and prosecuted alongside Emefiele over their alleged roles in the transaction.
He told the court that Buhari "ought to be charged along with Emefiele" in connection with the alleged $6.2 million fraud, adding that such prosecution could be pursued posthumously.
Obaze also claimed that Boss Mustapha denied signing documents originating from his office that allegedly initiated the request for the funds. He maintained that the evidence before his investigation contradicted those denials.
The investigator further urged the court to order the arrest and prosecution of Jibril Abubakar, who allegedly collected the money on the authority of the SGF's office, and Maishanu, whom he identified as a serving CBN employee. He alleged that Maishanu admitted involvement in the diversion of the funds and refunded $856,500 to the investigation panel. Obaze said the recovered money has since been deposited with the CBN.
During his testimony, Obaze also faulted officials at the Abuja branch of the CBN for releasing the funds without conducting adequate due diligence. He argued that under the CBN Act, the equivalent naira value of the funds should have been deposited before the $6.2 million was released.
Under cross-examination by Emefiele's counsel, Matthew Burkaa (SAN), Obaze acknowledged that he did not recover any money directly from the former CBN governor and said there was no evidence showing that any of the funds were transferred into Emefiele's personal account.
He, however, argued that Emefiele should have been aware of the transaction if the Abuja branch of the CBN had properly utilised its CCTV system and Bank Verification Number (BVN) platform before releasing the funds.
Obaze also stated that any irregularities surrounding the withdrawal should have been detected through the CBN's annual financial statements if appropriate internal controls had been followed.
The witness told the court that President Tinubu appointed him as Special Investigator on December 19, 2023, and directed him, in the presence of the Attorney-General of the Federation and the EFCC Chairman, to prepare charges relating to the alleged $6.2 million fraud.
When defence counsel pointed out that the charge against Emefiele was dated August 14, 2023, before Obaze's appointment, the witness said he was not a lawyer and could not explain the discrepancy.
Justice Hamza Muazu subsequently adjourned the case until October 20 for the continuation of the trial.
