An investigator with the Economic and Financial Crimes Commission, Alvan Gurumnaan, has told a Lagos State Special Offences Court in Ikeja that former Central Bank of Nigeria Governor, Godwin Emefiele, allegedly used associates, including a lawyer, to acquire multi-billion-naira properties through proxies while in office.
Gurumnaan, the seventh prosecution witness, said the properties were located in Lagos, Delta, Ogun and Abuja. Some of the assets have reportedly been forfeited to the Nigerian Government following court orders.
Testifying before Justice Rahman Oshodi on Thursday, the investigator also disclosed that the EFCC recovered more than $2 million in cash from the office of a lawyer, Ifeanyi Omeke.
He alleged that Omeke admitted acting as a front for Emefiele and receiving money on his behalf.
The testimony came during the trial of Emefiele and his co-defendant, Henry Omoile, over allegations of gratification, corrupt demands and abuse of office involving transactions valued at $4.5 billion and ₦2.8 billion.
Emefiele is facing a 19-count charge, while Omoile is standing trial on a separate three-count charge bordering on alleged unlawful acceptance of gifts.
Led in evidence by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), Gurumnaan said investigations showed that Emefiele allegedly used his position as CBN governor to make it difficult for businesses to access foreign exchange.
He alleged that some business operators were forced to enter special arrangements to obtain the funds.
The investigator cited the alleged involvement of Emefiele’s staff member, Monday Osazuwa, and Omoile in collecting and transferring money from a company to the former CBN governor.
“One of those examples was how a company had to pay millions of dollars to the first defendant through his staff, Monday Osazuwa.
“Osazuwa admitted to us in the course of the investigation that he received about $17 million from the company and gave it to the second defendant sometime. The second defendant was the one who later took the money to the first defendant,” the witness said.
Gurumnaan also cited the case of Source Computer, alleging that the company’s managing director was forced to pay money to Emefiele before its contract fees could be released.
The investigator went on to list several properties allegedly acquired by Emefiele through associates. He argued that their value was far beyond what the former CBN governor could have earned legitimately while in office.
The properties included twin duplexes in Lekki Phase 1 and two mansions on Queen’s Drive, Ikoyi, Lagos.
He also mentioned a factory under construction in Agbor, Delta State, Emefiele’s hometown, which he said had been forfeited to the Nigerian Government.
Another property was a block of eight flats on Adekunle Lawal Street, Ikoyi, Lagos. Gurumnaan alleged that the building previously belonged to the Nigerian Printing and Minting Company, where Emefiele served as board chairman.
He further told the court that the EFCC recovered a warehouse in Ogun State, on the outskirts of Lagos, which allegedly belonged to the former CBN governor.
According to him, the warehouse contained several containers estimated to be worth hundreds of billions of naira.
Other properties listed included an 11-storey building under construction in Ikoyi, with about 94 luxury flats; an industrial park being developed in Amuwo Odofin, Lagos; and an estate of about 750 housing units in Lokogoma District, Abuja.
Gurumnaan said the EFCC had obtained several court judgments leading to the forfeiture of assets allegedly linked to Emefiele and valued at hundreds of billions of naira.
Defence objects to testimony
The defence teams challenged the admissibility of the testimony, arguing that the prosecution was introducing allegations and facts that were not contained in the proof of evidence served on the defendants.
Emefiele’s lead counsel, Ojo Olalekan (SAN), argued that the prosecution could not introduce additional facts through its witness without first filing and serving supplementary proof of evidence.
Citing Section 251 of the Administration of Criminal Justice Law 2015, he said the prosecution was required to comply with the legal provisions governing the contents of an information.
Omoile’s counsel, Kazeem Gbadamosi, supported the objection. He argued that the investigating officer’s testimony should be limited to findings relevant to the charges before the court.
However, Oyedepo told the court that the evidence was relevant to the prosecution’s allegation that Emefiele used proceeds of gratification to acquire properties beyond his legitimate sources of income.
He argued that the defendants would not be prejudiced because they could challenge the evidence during cross-examination.
In his ruling, Justice Oshodi dismissed the objection, relying on the Supreme Court decision in Ugwuma v. The State (2018).
The judge said the decision recognised the right of an investigating officer to testify about what he personally saw, witnessed or discovered during an investigation.
He therefore allowed Gurumnaan to continue his testimony while preserving the defence’s right to cross-examine him.
During further proceedings, the witness sought to tender a certified true copy of a Supreme Court judgment relating to some of the properties mentioned in his testimony.
The defence objected again, arguing that the document had not been disclosed early enough to allow them to prepare their response.
Justice Oshodi deferred consideration of the document and the objection until the next sitting.
The court adjourned the case until November 13, 2026, for continuation of trial.