A former Special Investigator of the Central Bank of Nigeria (CBN), Jim Obazee, has told a Federal Capital Territory High Court that late former President Muhammadu Buhari and former Secretary to the Government of the Federation (SGF), Boss Mustapha, should have been prosecuted alongside former CBN Governor Godwin Emefiele over the alleged fraudulent withdrawal of $6.23 million from the apex bank.
Obazee, who testified as a prosecution witness for the Economic and Financial Crimes Commission (EFCC), argued that the alleged fraud involved several individuals and questioned why only Emefiele is standing trial. He claimed the money, reportedly meant for foreign election observers during the 2023 general election, was withdrawn from the CBN’s Abuja branch and handed over to suspected criminals.
According to Obazee, $856,500 of the funds was recovered from Bashirudeen Maishanu, a CBN staff member, who he said should also face prosecution. He further maintained that Buhari, Mustapha and former members of the CBN board ought to have been charged over their alleged roles in the matter.
Mustapha had earlier denied authorising or facilitating the release of the funds during his testimony in February 2024.
Justice Hamza Muazu adjourned the case to October 20, 2026, for the adoption of final addresses, while Emefiele’s defence team indicated it would file a no-case submission.