How $6.2m Stolen from CBN Was Shared, Court Documents Reveal

Court documents have shed light on how $6,230,000 was allegedly stolen from the Central Bank of Nigeria (CBN) and distributed among conspirators. The theft, which occurred on February 8, 2023, was described as an insider job involving CBN officials and two external accomplices.

According to the documents, a special presidential investigative team led by Jim Obaze found that the money was removed under the pretext of paying election observers. Investigators claimed that CBN officials, with the help of outsiders Adamu Abubakar and Imam Abubakar, orchestrated the theft.

A significant portion of the stolen money, $3,730,000, was allegedly taken by Odoh Eric Ocheme, a personal assistant to the then CBN Governor Godwin Emefiele. The remaining $2,500,000 was shared among three other individuals. Ocheme purportedly justified his large share by citing the need to settle interests within the bank.

Godwin Emefiele faces a 20-count charge of complicity in the theft, which he has denied. During a court hearing, Michael Onyeka Ogbu, a Deputy Director at CBN, confirmed the withdrawal of the funds, asserting that the necessary authorizations were provided. He detailed how the payment was processed following a request for funds allegedly intended for international election observers.

Further investigation revealed that the documents used to authorize the payment were forged, including letters purportedly from high-ranking government officials. Surveillance footage showed an unidentified individual, Jibril Abubakar, collecting the money with the help of CBN staff. One staff member, Abdulmajeed Muhammad, admitted to aiding Abubakar, thinking he was acting on valid instructions.

Investigators uncovered that some of the stolen funds were invested in real estate, and efforts to recover the money are ongoing. Two accomplices, Adamu and Imam Abubakar, along with Ocheme, are currently at large, prompting extradition proceedings against them.

The court case continues as authorities work to unravel the full extent of the conspiracy and recover the stolen funds.