12th November, 2026 | News

EFCC Witness Alleges Godwin Emefiele Used Proxies to Acquire Multi-Billion-Naira Properties

Lagos, Nigeria — An Economic and Financial Crimes Commission (EFCC) investigator, Alvan Gurumnaan, has told an Ikeja Special Offences Court how former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, allegedly utilized aides, associates, and a lawyer as proxies to acquire multi-billion-naira properties across Nigeria while in office.

Gurumnaan testified on Thursday as the prosecution’s second witness before Justice Rahman Oshodi, leading evidence in the ongoing trial brought by the Federal Director of Public Prosecutions, Rotimi Oyedepo (SAN).

Charges Facing Emefiele and Co-Defendant

Emefiele is standing trial alongside his co-defendant, Henry Omoile, over allegations of corruption, gratification, and abuse of office involving transactions valued at $4.5 billion and ₦2.8 billion.

While the former CBN governor faces a 19-count charge, Omoile faces a separate three-count charge related to the unlawful acceptance of gifts.

Multi-Billion-Naira Properties and Forfeitures Linked to Emefiele

According to the EFCC investigator, intelligence-led investigations headed by his special operations team uncovered a vast portfolio of properties acquired through illicit channels and individuals whose financial capacities did not align with legitimate earnings.

Some of the high-profile assets listed by the witness include:

• Two luxury mansions on Queens Drive, Ikoyi, Lagos.
• Twin duplexes in Lekki Phase 1, Lagos.
• An 11-storey building under construction comprising about 94 luxury flats.
• A massive estate containing approximately 750 houses in the Lokogoma district of Abuja.
• A property on Adekunle Lawal Street, Ikoyi, previously belonging to the Nigerian Printing and Minting Company—where Emefiele served as board chairman—which the witness alleged was sold to himself.
• A factory under construction in his hometown of Agbor, Delta State.
• A warehouse in Ogun State containing containers valued at hundreds of billions of naira.

The witness stated that the anti-graft agency has already secured court orders forfeiting several of these assets to the Federal Government.

Allegations of Foreign Exchange Manipulation and Proxies

Gurumnaan further told the court that Emefiele leveraged his position to create restrictive foreign exchange systems, compelling applicants and companies to enter special financial arrangements.

Citing specific instances, the investigator claimed that a company paid roughly $17 million through Emefiele’s staff member, Monday Osazuwa, who reportedly handed the cash over to Omoile to deliver to the former CBN governor. Another firm, Source Computer, was allegedly compelled to pay funds before its contract fees were released.

The witness also identified a lawyer, Ifeanyin Omeke, as a key front who handled financial transactions and property acquisitions. Investigators reportedly recovered over $2 million in cash from Omeke’s office.

Defense Objections Overruled

During the proceedings, defense counsels Ojo Olalekan (SAN) for Emefiele and Kazeem Gbadamosi for Omoile objected to the testimony regarding the properties, arguing that the evidence was irrelevant to the current charges.

However, Justice Rahman Oshodi overruled the objection, noting that the defense would have ample opportunity to cross-examine the witness.

The trial has been adjourned to November 13 for the continuation of proceedings.