Emefiele trial: Finance Ministry denies knowledge of N124.86bn CBN withdrawal

The Federal Ministry of Finance was not aware of a N124.86 billion withdrawal from the Central Bank of Nigeria (CBN), a ministry director has told the Federal Capital Territory High Court in Abuja.

Ali Mohammed, a director in the Ministry of Finance, made the disclosure while testifying as the 10th prosecution witness in the ongoing trial of former CBN Governor Godwin Emefiele.

Mohammed gave evidence before Justice Maryanne Anineh at the Maitama division of the FCT High Court on Tuesday.

He was led in evidence by prosecution counsel, Abbas Mohammed.

Finance Ministry investigates alleged CBN withdrawal

The witness told the court that he became involved in the matter after the Ministry of Finance received a letter from investigators concerning an alleged N154 billion withdrawal by the CBN.

Mohammed explained that he oversees three divisions within the ministry’s Department of Home Finance.

They are the State and Public Finance Division, Trade Division, and Banking and Other Financial Institutions Division.

After receiving the investigators’ letter, he said he contacted the divisions under his supervision to establish whether any of them had knowledge of the transaction.

According to Mohammed, none of the three divisions was aware of the withdrawal.

He identified the State and Public Finance Investment Division as the relevant unit because of its responsibilities involving the CBN.

Accountant-General’s office also denies knowledge

The ministry director said he subsequently contacted the Office of the Accountant-General of the Federation (OAGF) through the Permanent Secretary.

The purpose was to establish whether the government’s central payment office had any record or knowledge of the transaction.

Mohammed told the court that the OAGF responded that it was also unaware of the transaction.

According to the witness, the response indicated that the money represented a direct credit from the CBN.

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He said the Accountant-General’s response formed the basis of the ministry’s subsequent communication with the Special Investigator.

“I responded via a memo of what has transpired between my office and that of the AGF and sought for clearance for such document to be forwarded to the Special Investigator,” Mohammed told the court.

Court admits Finance Ministry documents

During the proceedings, prosecution counsel presented documents relating to the ministry’s investigation of the transaction.

Mohammed identified the documents and explained their relevance to the case.

The prosecution subsequently sought to tender them as evidence.

The witness told the court that the original documents had already been forwarded to the Special Investigator. He therefore presented certified true copies.

Defence counsel, Olalekan Ojo, SAN, did not object to their admission.

Justice Maryanne Anineh subsequently admitted the documents and marked them as Exhibits AJ, AK and AL.

Exhibit AJ linked to N124.86bn transaction

While examining the admitted documents, prosecution counsel asked Mohammed to explain the purpose of Exhibit AJ.

The witness said the document established that the Federal Ministry of Finance was unaware of the withdrawal of N124.86 billion.

He explained that he relied on the correspondence received from the Accountant-General before signing the document.

Mohammed also explained the significance of Exhibit AL.

According to him, the document contained confirmation from the Office of the Accountant-General of the Federation that it had no knowledge of the transaction involving the N124.86 billion.

Emefiele’s trial continues

The testimony forms part of the ongoing prosecution of former CBN governor Godwin Emefiele over allegations relating to financial transactions during his tenure at the apex bank.

The latest evidence focuses on whether relevant government institutions were aware of the movement of funds and the procedures surrounding the transactions under investigation.

The court admitted the documents without objection from the defence, allowing the prosecution to rely on them as part of its case.

The proceedings are expected to continue as the prosecution presents further evidence in the case.