The unfolding trial of former Central Bank of Nigeria (CBN) governor, Godwin Emefiele, is increasingly drawing concern as developments suggest a possible breakdown in the prosecution’s case over the alleged missing $6.23 million from the bank’s Abuja branch.
There are strong indications that the federal government may inform the FCT High Court that a key witness, Commissioner of Police Elohor Edwin Okpoziakeo, is unavailable due to commitments in another court. This move, if presented, could once again stall proceedings and potentially prevent both the police commissioner and Jim Obazee from testifying.
Judicial insiders reveal that the prosecution may seek yet another adjournment—despite the court already granting eight, surpassing the statutory limit of five. With patience wearing thin, there are growing expectations that the court could refuse further delays and, in a dramatic twist, dismiss the case altogether on grounds of insufficient evidence.
Interestingly, the prosecution had initially positioned the police commissioner as a star witness but reportedly backed off at the last minute. Sources suggest this decision stemmed from fears that relying on a police witness in such a sensitive, high-profile matter could prove counterproductive.
Meanwhile, it is understood that an official of the Economic and Financial Crimes Commission (EFCC) has reached out to Obazee, who has expressed willingness to testify—provided he is formally invited. His absence from proceedings so far has fueled speculation about internal contradictions within the prosecution’s strategy.
Observers allege that sidelining Obazee—who led the investigation into the apex bank—could be a calculated move. His findings reportedly formed the backbone of the case, including recommendations for Emefiele’s prosecution. Without his testimony, the case risks losing its evidentiary weight, potentially paving the way for acquittal.
Justice Hamza Muazu had, during the March 17 sitting, issued a firm directive for the EFCC to present its key witness by April 27, warning of legal consequences for continued non-compliance. The warning followed repeated failures by the prosecution to bring Obazee before the court.
It will be recalled that in July 2023, President Bola Tinubu appointed Obazee, a former head of the Financial Reporting Council, to probe alleged irregularities within the CBN and other government-linked entities. His preliminary report, submitted in December 2023, highlighted the disappearance of $6.23 million and implicated several high-ranking officials.
Further complicating the matter are claims that some individuals initially recommended for prosecution—including Boss Mustapha—have now been repositioned as government witnesses. Critics argue that such shifts may weaken the prosecution’s case rather than strengthen it.
The Obazee report reportedly uncovered a wide range of alleged infractions, from unauthorized currency issuance and controversial “ways and means” financing, to questionable COVID-19 expenditures and the alleged diversion of over N17 billion in public funds through multiple financial institutions.
As proceedings resume, the spotlight remains firmly on whether the prosecution can salvage its case—or whether procedural missteps and strategic decisions may ultimately lead to its collapse, effectively bringing the high-stakes trial to an abrupt end.
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