The eighth prosecution witness, Alvan Gurumnaan, provided explosive testimony at the Special Offences Court in Ikeja, Lagos, on Thursday, detailing how the former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, allegedly utilized various associates to amass an extensive real estate portfolio far exceeding his authorized earnings.
Mr. Emefiele is currently standing trial before Justice Rahman Oshodi on a 19-count charge brought by the Economic and Financial Crimes Commission (EFCC). The allegations center on a massive $4.5 billion fraud, including claims of receiving gratification and making corrupt demands during his tenure at the helm of the nation’s apex bank.
During his examination by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo, Mr. Gurumnaan, who leads the investigative team tasked with the case against Mr. Emefiele and his co-defendant, Henry Omoile, outlined the scale of the assets in question. According to the witness, the properties identified include twin duplexes in Lekki Phase 1, two mansions situated on Queens Drive in Ikoyi, an uncompleted factory in Agbor, Delta State, and a printing and minting facility on Adekunle Lawal Street, Ikoyi. Furthermore, investigators discovered a warehouse in Ogun State housing containers valued at hundreds of billions of naira, alongside vast projects in Abuja, including an industrial park and a residential estate comprising over 700 duplexes currently under construction.
Mr. Gurumnaan informed the court that the majority of these assets have already been forfeited to the Federal Government following various court orders. He noted that the former governor had previously acknowledged ownership of several of these properties in court proceedings. Specifically, the witness highlighted the Ikoyi property on Adekunle Lawal Street, which formerly belonged to the Nigerian Printing and Minting Company—an entity Mr. Emefiele chaired—alleging that the former governor effectively sold the government asset to himself.
In response to the testimony, defense counsel Olalekan Ojo urged the court to strike the evidence regarding the Agbor and Adekunle Lawal Street properties from the record, arguing that these specific assets were not included in the existing charges against his client.
Prosecution counsel Rotimi Oyedepo, appearing alongside a team of legal colleagues, countered the defense’s motion by formally tendering a Supreme Court judgment as an exhibit to substantiate the prosecution’s case. Justice Oshodi subsequently adjourned the trial until Friday to deliver a ruling on the admissibility of the document and to facilitate the continuation of the proceedings.
Source: NaijaProbe