The special investigator for President Bola Tinubu, Jim Obazee, may be unable to testify as the federal government’s key witness in the criminal trials of former CBN governor Godwin Emefiele, reportedly due to the Attorney-General Lateef Fagbemi’s alleged unresponsiveness to his requests.
Obazee has notified the AGF of his availability to appear in federal cases concerning the former CBN governor Godwin Emefiele, in response to court invitations.
Obazee, the investigator who probed the apex bank, was subpoenaed by two Abuja courts to address fraud allegations against the former CBN boss Godwin Emefiele on June 9th, July 2nd, and 3rd, 2026.
“Jim Obazee has sent a letter to Attorney-General Lateef Fagbemi with requests in anticipation of his court appearance, which he is prepared to attend”, stated the source.
As of Tuesday, June 2, the AGF has not yet responded to Obazee’s letter concerning timely court notifications, proper case briefings for witnesses, and President Tinubu’s approval for Obazee’s appearance in CBN investigation-related cases, according to an InsideBusinessNG source.
Obazee, according to the source, also requested the court documents filed by the EFCC in these cases, along with logistics and security to ensure his safety inside and outside the court.
His requests for case updates and safety assurances, InsideBusinessNG learned, stem from assassination attempts between 2024 and 2026, related to a high-profile investigation that concluded abruptly in 2024.
He is scheduled to appear before Justice Maryanne Anennih of the FCT High Court on June 9th and 10th to testify in the charges of criminally withdrawing N124.86 billion from the Consolidated Revenue Account (CRA) without National Assembly approval, violating the Nigerian constitution. Additionally, he will testify regarding the alleged illegal redenomination of the Nigerian currency.
The government’s star witness will testify, together with the Commissioner of Police, Elohor Edwin Okpoziakpo, a support staff member during the investigation, who will continue testimony on July 2nd and 3rd before Justice Hamza Muazu of the FCT High Court regarding the alleged theft of $6.23 million from the CBN’s Abuja office.
Obazee investigated the CBN and its related entities between July 2023 and April 2024 on the orders of President Tinubu, who appointed him on July 28, 2023, to investigate sundry malfeasance in the country’s apex bank and its related entities, as well as other Government Business Entities (GBEs).
Due to late notification, the star witness could not appear at the May hearing before Justice Maryanne Anenih. However, Hamisu Abdullahi, a CBN deputy director, informed the FCT High Court that the apex bank debited N124.86 billion from the Consolidated Revenue Account during ex-Governor Emefiele’s tenure without National Assembly approval.
The ninth prosecution witness, Hamisu, testified in Emefiele’s trial that the apex bank accumulated N124.86 billion in internal debts due to federal government directives to pay agencies without providing adequate funds. He also testified in the charges on illegal redesign of naira notes.
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Led in evidence by prosecution lawyer, Abbas Mohammed, Hamisu, who said the various unpaid bills created a huge debt in CBN’s internal books, noted that Emefiele turned to the Consolidated Revenue Account, which is the primary treasury where all public income is pooled, and from which almost all government expenditure is paid.
The witness said Emefiele, without the parliamentary approval required for such withdrawal, and also, without the approval of the president, directed that the sum of N124,860,227,865.16 be debited from the CRA.
This, Hamisu said, runs contrary to the golden rule that governs the CRA, adding that no money can be withdrawn from the account except in a manner prescribed by the National Assembly, usually through an appropriation act or budget.
The witness said Godwin Emefiele, in a minute, directed the Deputy Governor, Operations, to debit the CRA and credit the proceeds into the accounts of the long-standing debts.
Applications of the withdrawal from the CRA, according to Hamisu, include N43 billion and another N38.6 billion to the Pilgrimage subsidy account, to address requests for concessionary rates in the sale of foreign exchange to Muslims and Christians’ pilgrims.
He said both the Economic and Financial Crime Commission (EFCC) and the external auditors were told that the funds were applied to address longstanding outstanding debts when they raised concerns.
The witness, who said Jim Obazee requested an explanation on the memo authorising the withdrawal from the CRA, also provided to the court details of the approving memo, which he tendered and was admitted as an exhibit by the court.
According to Hamisu, there were four minutes on the memo. They are the then Director of Banking Services, Okojere Christopher, who wrote the first and the last minutes, Emefiele and the then Deputy Governor of the CBN, Adebisi Sonubi.
During cross-examination by Olalekan Ojo, SAN, and Counsel to Emefiele, the witness said the former CBN governor did not benefit from the fund, and he didn’t come across any letter that anyone was prejudiced or suffered owing to the debt.
Hamisu explained that the decision to recover the N124.8 billion was officially approved by CBN’s directors and and the committee of governors, with clarification that the apex bank does not always need a Presidential approval in such regular banking operations.
He said, “Approval was initiated by the Banking Services Department based on the instructions of the Governor through the Director of Finance, who sent the message via an email”.
