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EFCC Witness Tells Court How Funds Were Moved From CBN Through Emefiele’s Wife

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Godwin Emefiele
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A business relationship manager with Zenith Bank PLC, Ifeoma Ogbonnaya, has told a Lagos High Court sitting in Ikeja how funds were moved from the Central Bank of Nigeria (CBN) through Zenith Bank to some accounts linked to Mrs Margaret Emefiele, wife of a former Governor of the CBN Godwin Emefiele.

Ogbonnaya who is the fifth prosecution witness testified in the trial of Godwin Emefiele and his co-defendant, Henry Omoile, on charges of alleged abuse of office to the tune of $4.5 billion and N2.8 billion

Led in evidence by EFCC’s Prosecutor (SAN) Rotimi Oyedepo, the witness told trial Judge Rahman Oshodi that she never had any dealings with the former CBN governor but testified that several transfers running into billions from apex bank were made into private companies linked to Mrs Emefiele.

The inflows were for services rendered by the companies for CBN.

She listed the private companies that received the cash flow from CBN, as Limelight Multidimensional Services Ltd, Comec Support Services Ltd, Andswin Resources Solution Ltd, and Magofarm.

The witness also testified that the two signatories to the accounts are one Mr Stephen and Mrs Patricia but that all transfer instructions were authorised by Mrs Emefiele.

She said apart from Mrs Emefiele she also receives instructions from two other people – Mr John Ogah and one Mr Opeyemi Oludimu – who works for Emefiele but is now late.

“Mrs Margaret Emefiele, the ex-CBN governor’s wife is the direct beneficiary of the accounts. The companies send transfer instructions to my email and all transactions made in the accounts were confirmed by Mrs Emefiele before they were processed,” she stated.

“Whenever she sends transfer instructions directly to my official email address with Zenith Bank or sends it through two other persons that work with them, I usually confirm from her.”

The witness also explained that Limelight manages the facilities of CBN, located in the Alakija area of Lagos, and noted that all transactions about power and fixing things that are not working were always done by the vendors.

“Andswin was basically used to provide diesel to their vendors. Magofarms deals with piggery and poultry. For Comec, they also had facilities for the CBN guest house in Ikoyi.”

Ogbonnaya also told the court about some of the cash flows the accounts received.

“On February 22, 2021, there was a cash flow of N42,988,758.75 from CBN, on July 21, 2022, there was a cash flow of N37,279,964.70. On October 21, 2022, there was a credit flow of N44,641,077.60, on May 10, 2023, there was a cash flow of N93,100,000, from CBN, among others,” the witness said.

She said the bundles of documents which entailed the various transactions were printed from her desktop computer.

“The documents were sent to my email and when the investigation started, I was requested to print all the documents for the law enforcement which I did. I printed them from the office desktop and took them to the compliance officer.

“I also have certificates confirming that these documents were printed from Zenith Bank.”

With no objections from the defence team, the court admitted in evidence, the certificate of identification and the bundle of printed documents which contained the various transactions the witness purportedly carried out under Mrs Emefiele’s instructions.

Justice Oshodi also granted a request by Mr Emefiele’s lawyers to recall the first prosecution witness Monday Osazuwa for a further cross-examination.

The trial was then adjourned till July 10, for continuation.

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Ekiti Bureau Congratulates Oyebanji, Prioritises Curbing Capital Flight

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The Ekiti State Bureau of Local Content has congratulated Governor Biodun Oyebanji on his inauguration for a second term in office, pledging to prioritise efforts to address capital flight and strengthen the state’s economy.

The Bureau, in a congratulatory message issued by its management, and signed by the director of Admin Mr Tope Fasoyin, described the governor’s second-term inauguration as an opportunity to consolidate the achievements of his first tenure and advance policies aimed at promoting sustainable economic development in the state.

 

The agency reaffirmed its commitment to supporting the governor’s vision of retaining more economic resources within Ekiti State through effective implementation of local content policies.

 

It said efforts would be intensified to promote the participation of indigenous businesses in government projects, encourage patronage of locally produced goods and services, and create more opportunities for local contractors, suppliers, and service providers.

 

According to the Bureau, prioritising local content would help reduce capital flight, stimulate indigenous enterprise, create employment opportunities, and ensure that more economic benefits accrue to the people of Ekiti State.

 

The management also pledged to collaborate with relevant stakeholders to ensure that the governor’s economic development agenda is translated into tangible benefits for residents.

 

It expressed confidence that Governor Oyebanji’s second term would bring renewed opportunities for economic growth, investment, and sustainable development across the state.

 

The Bureau wished the governor a successful and impactful second term in office.

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Ekiti Assembly Confirms Apata, Oyebode as Commissioner-Designates, Approves 10 Special Advisers

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The Ekiti State House of Assembly has confirmed the nominations of Mr. Dayo Apata, SAN, and Mr. Akintunde Oyebode as commissioner-designates following their screening during plenary on Wednesday, October 28, 2026.

 

The Assembly also approved the appointment of 10 Special Advisers to support governance across key sectors of the state.

 

The Speaker of the House, Rt. Hon. Adeoye Aribasoye, presided over the plenary, during which the House considered nominations and other legislative matters forwarded by Governor Biodun Oyebanji.

 

According to a statement by the Chairman of the House Committee on Media and Public Affairs, Hon. Babatunde Oke, the two commissioner nominees were allowed to take a bow and leave after the Speaker acknowledged their previous service as commissioners and their familiarity with the legislative process.

 

Aribasoye noted that Apata and Oyebode had appeared before the House on several occasions, either for screening or to present their stewardship accounts, adding that their records were already known to lawmakers.

 

Following the Speaker’s remarks, members unanimously agreed to allow the nominees to take a bow and leave without further questioning. The House subsequently considered and confirmed their nominations.

 

Meanwhile, the screening of another commissioner nominee, Dr. Oyebanji Filani, has been rescheduled to Monday, November 2, 2026.

 

Filani had written to the Assembly to explain his inability to attend the screening scheduled for Wednesday and requested a new date, a request which the House granted.

 

In another development, the Assembly commenced consideration of the 2026 Supplementary Appropriation Bill, with the Leader of the House, Hon. Tolu Ige, leading the debate.

 

After the bill was read for the second time by the Clerk, the Speaker referred it to the House Committee on Finance and Appropriation for further legislative scrutiny. Other relevant committees were also designated to serve as sub-committees in the consideration of the bill.

 

The Assembly said it remained committed to expediting legislative business, including confirmation processes and consideration of bills, in the interest of good governance and service delivery to the people of Ekiti State.

 

The statement was signed by Hon. Babatunde Oke, Chairman of the House Committee on M

edia and Public Affairs.

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Bamidele Urges Lagos, Southwest States to Establish Regional Investment Compact

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Senate Leader, Senator Michael Opeyemi Bamidele
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The Leader of the Senate, Senator Opeyemi Bamidele, has called on the Lagos State Government and other Southwest states to establish a regional development and investment compact to accelerate infrastructure development, economic integration and regional prosperity.

Bamidele made the call on Thursday while delivering a keynote address at the Lagos Physical Planning Summit held at Eko Hotel and Suites, Victoria Island, Lagos, where he proposed a Lagos-Southwest Spatial Development and Investment Compact.

He said Lagos could not secure its long-term prosperity through isolated state planning, stressing that its economy was deeply interconnected with neighbouring states through labour markets, housing, agriculture, manufacturing, transportation, trade and environmental systems.

According to him, the proposed compact would provide a framework for coordinating cross-border infrastructure, developing regional economic corridors, strengthening environmental resilience and mobilising investments in projects that benefit multiple states.

Bamidele urged the Lagos State Government to move beyond treating physical planning as a routine governmental activity and embrace it as a coordinated system for delivering economic value, social welfare, environmental sustainability and regional prosperity.

He explained that achieving this transition would require a change in mindset, stronger institutions, reorganisation of investment priorities and closer alignment between development plans and implementation.

The Senate Leader proposed a collaborative framework involving Lagos, Ogun, Oyo, Osun, Ondo and Ekiti states, alongside relevant federal institutions, planning authorities, infrastructure agencies, private-sector operators, professional bodies and development partners.

He said the framework should prioritise regional transportation networks, complementary economic corridors, cross-border urban planning, environmental resilience and investment mobilisation.

Bamidele also urged Lagos to leverage the emerging digital revolution by expanding broadband infrastructure, smart-city technology, digital services, innovation hubs and technology-driven enterprises, while equipping its workforce with the digital skills required to compete in a changing economy.

He maintained that the future of Lagos would depend not only on the quality of its development plans but also on the determination with which they were financed, coordinated and implemented.

“We must connect physical planning to economic development, infrastructure investment to measurable public benefits, digital innovation to effective governance, and state-level priorities to regional cooperation,” he said.

Bamidele further emphasised the need for capable institutions, predictable regulations, transparent financing, responsible investment and sustained collaboration among governments, the private sector, professional institutions, communities and development partners.

He expressed confidence that a coordinated Lagos-Southwest development framework would strengthen regional economic integration, unlock investment opportunities and promote sustainable development across the six states.

 

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