Witness Testifies on Funds Transfers to Margaret Emefiele in Court

An Assistant Manager at Zenith Bank Plc, Ifeoma Ogbonnaya, appeared in an Ikeja Special Offences Court on Tuesday, revealing how former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, allegedly directed significant funds to his wife, Margaret Emefiele, through various accounts.

Ogbonnaya, acting as the fifth prosecution witness, detailed to the court how Emefiele used Zenith Bank to transfer multimillion-naira sums in tranches to accounts linked to his wife via companies like Amswing Resources and Solution, Limelight Dimensional Service Ltd., Omec Support Service Ltd., and Mango Farm.

According to her testimony led by EFCC counsel Rotimi Oyedepo, SAN, Ogbonnaya managed these accounts and executed transfers based on instructions received from individuals associated with the Emefieles.

While she acknowledged not directly interacting with Godwin Emefiele, Ogbonnaya clarified that she received directives from his wife, Margaret Emefiele, regarding fund transfers from CBN-related accounts.

Transactions highlighted during her testimony included substantial sums transferred between 2015 and 2023, underscoring the flow of funds from CBN to the mentioned companies and ultimately to Mrs. Emefiele.

The witness emphasized that all transactions underwent scrutiny and approval by Margaret Emefiele before being processed, with detailed records maintained and printed from her office computer.

The ongoing trial focuses on charges of abuse of office and alleged fraud involving $4.5 billion and ₦2.8 billion during Godwin Emefiele’s tenure as CBN governor.