The Special Investigator appointed by President Bola Tinubu, Jim Obazee, may be unable to testify as a key prosecution witness in the ongoing criminal trials of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, due to the alleged lack of response from Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, according to sources familiar with the matter.
Obazee, who led the presidential investigation into the CBN and related entities, has reportedly informed the Attorney-General of his readiness to appear in court in compliance with subpoenas issued in cases involving Emefiele.
The investigator is expected to testify before two Federal Capital Territory (FCT) High Court judges over allegations bordering on fraud and financial misconduct against the former apex bank chief. His scheduled appearances are before Justice Maryanne Anenih on June 9 and 10, and before Justice Hamza Muazu on July 2 and 3, 2026.
A source familiar with the development said Obazee had written to the Attorney-General seeking guidance and support ahead of his court appearances.
“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,” the source said.
According to the source, as of June 2, the Attorney-General had yet to respond to requests relating to timely notification of court proceedings, witness briefings, and presidential approval for Obazee’s participation in cases arising from the CBN investigation.
The source further disclosed that Obazee requested access to court filings submitted by the Economic and Financial Crimes Commission (EFCC), as well as logistical and security arrangements to facilitate his court appearances.
His concerns over security were reportedly linked to alleged assassination attempts between 2024 and 2026 connected to a high-profile investigation that concluded in 2024.
Before Justice Anenih, Obazee is expected to testify in a case involving allegations that N124.86 billion was withdrawn from the Consolidated Revenue Account (CRA) without approval from the National Assembly, contrary to constitutional provisions. He is also expected to provide evidence concerning the controversial redesign of the naira during Emefiele’s tenure.
In a separate case before Justice Muazu, Obazee and Commissioner of Police Elohor Edwin Okpoziakpo are expected to testify over allegations relating to the theft of $6.23 million from the CBN headquarters in Abuja.
President Tinubu appointed Obazee on July 28, 2023, to investigate alleged misconduct within the CBN, its affiliated entities and other government business entities. The investigation lasted from July 2023 to April 2024.
Sources said Obazee was unable to appear during an earlier hearing before Justice Anenih due to late notification. However, the prosecution proceeded with the testimony of a CBN Deputy Director, Hamisu Abdullahi.
While testifying as the ninth prosecution witness, Abdullahi told the court that the CBN withdrew N124.86 billion from the Consolidated Revenue Account during Emefiele’s tenure without obtaining approval from the National Assembly.
Led in evidence by prosecuting counsel Abbas Mohammed, the witness explained that the apex bank accumulated substantial internal liabilities arising from federal government directives to make payments to agencies without corresponding funding provisions.
According to Abdullahi, Emefiele subsequently directed that N124,860,227,865.16 be debited from the Consolidated Revenue Account and used to offset outstanding obligations, despite the absence of legislative approval.
He stated that withdrawals from the account are ordinarily governed by constitutional and statutory provisions requiring appropriation by the National Assembly.
The witness told the court that part of the funds was applied to pilgrimage subsidy accounts, including payments of N43 billion and N38.6 billion, to support concessionary foreign exchange rates for Muslim and Christian pilgrims.
Abdullahi further testified that both the EFCC and external auditors were informed that the withdrawals were intended to settle longstanding debts when questions were raised about the transactions.
He also informed the court that Obazee had requested explanations regarding the memo authorising the withdrawals and tendered the relevant documents as evidence.
Under cross-examination by Emefiele’s counsel, Olalekan Ojo (SAN), the witness acknowledged that he found no evidence showing that Emefiele personally benefited from the funds. He also stated that he was unaware of any individual who suffered direct prejudice as a result of the transactions.
Abdullahi further testified that the decision to recover the N124.8 billion was approved by CBN directors and the Committee of Governors, noting that presidential approval is not always required for routine banking operations within the apex bank.
“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,” he told the court.
