Court documents have revealed details about the alleged theft of $6.23 million from the Central Bank of Nigeria (CBN) on February 8, 2023. The special presidential investigative team, led by Jim Obaze, alleges that the money was stolen by CBN officials, with the assistance of two outsiders, Adamu Abubakar and Imam Abubakar, under the pretense of paying election observers.

According to the documents, a personal assistant to the former CBN Governor, Godwin Emefiele, Odoh Eric Ocheme, allegedly received $3.73 million of the stolen funds. The remaining $2.5 million was shared among three other individuals. Ocheme claimed he needed the larger share to settle various interests within the CBN.

Emefiele is implicated in a 20-count charge filed by the Economic and Financial Crimes Commission (EFCC) before the High Court of the Federal Capital Territory (FCT), but he has pleaded not guilty.

During a hearing, Michael Onyeka Ogbu, a Deputy Director at the CBN, testified that he authorized the payment, believing it was for international election observers, as indicated in the memo, which purportedly had the approval of both the CBN Governor and the President.

Investigations revealed that the documents authorizing the payment were forged, and the person who withdrew the money, Jibril Abubakar, was an impostor. CCTV footage showed Abubakar being assisted by Abdulmajeed Muhammad, a CBN staff member, who claimed he was acting innocently on instructions from a senior staff member, Bashirudeen Maishanu.

Further investigation led to the arrest of Maishanu, who confessed to his involvement and revealed that he, along with Adamu Abubakar and Imam Abubakar, shared $2.5 million of the stolen funds. The remaining $3.73 million was kept by Ocheme. Some of the stolen money was invested in real estate through Afrolyk Global Ltd, with part of the investment being recovered.

The ongoing investigation has resulted in arrests and attempts to extradite the suspects who fled the country. The case highlights significant lapses in internal controls and security at the CBN, prompting calls for stricter measures to prevent future occurrences.