A High Court of the Federal Capital Territory (FCT) has summoned two key witnesses to testify in the ongoing trial of former Central Bank Governor, Godwin Emefiele, over an alleged $6.23 million fraud case.
The order was issued by Justice Hamza Muazu, who is presiding over the matter at the FCT High Court in Abuja. The judge directed the witnesses, Jim Obazee and Eloho Okpoziakpo, to appear before the court on Tuesday, April 28, 2026.
According to a subpoena dated April 27, the witnesses are expected to be in court by 9:00 a.m. and must continue to attend proceedings until the case is concluded.
Emefiele is currently facing prosecution by the Economic and Financial Crimes Commission (EFCC) on an amended 20-count charge. The charges include criminal breach of trust, forgery, abuse of office, and conspiracy to obtain money by false pretence.
The anti-graft agency alleges that the former apex bank chief was involved in financial misconduct amounting to $6.23 million during his time in office. Emefiele has denied the allegations, and the case is still being heard in court.
Justice Muazu, in his directive, stated that both Obazee and Okpoziakpo played roles in the investigations that led to the charges against Emefiele. Their testimonies are expected to provide further clarity on key aspects of the case.
The court specifically instructed the witnesses to present evidence, including newspaper publications related to the controversial Naira redesign policy introduced during Emefiele’s tenure.
The Naira redesign policy, which was implemented in late 2022 and early 2023, remains one of the most debated economic decisions in recent Nigerian history. The policy involved the introduction of new designs for high-value Naira notes, with the aim of reducing cash hoarding, tackling inflation, and addressing issues related to illicit financial flows.
However, the implementation of the policy led to widespread cash shortages across the country, causing hardship for millions of Nigerians who depend on cash for daily transactions. Long queues at banks and ATMs became common, while many businesses struggled to operate.
The situation triggered public outcry and legal battles, with some state governments challenging the policy at the Supreme Court. The apex court later ruled on aspects of the policy, further increasing public attention on the actions of the Central Bank under Emefiele.
In the current trial, prosecutors are expected to rely on documents, testimonies, and other forms of evidence to establish their case against the former CBN governor. The inclusion of newspaper publications as evidence suggests that public records and reports may play a role in explaining decisions and actions taken during the policy period.
Jim Obazee is known for his involvement in financial investigations, particularly those linked to public institutions, while Eloho Okpoziakpo, a senior police officer, is believed to have contributed to aspects of the inquiry related to law enforcement.
The trial of Emefiele is one of several ongoing legal actions involving former public officials in Nigeria, reflecting increased efforts by authorities to address corruption and financial crimes.
The EFCC has, in recent years, intensified its prosecution of cases involving alleged abuse of office and misuse of public funds, particularly among top government officials.
However, such cases often take time due to legal procedures, adjournments, and the need to gather and present evidence.
For many Nigerians, the outcome of the trial will be closely watched, not only because of the sums involved but also due to Emefiele’s prominent role in shaping the country’s monetary policies over several years.
As head of the Central Bank, Emefiele oversaw key financial decisions, including currency management, banking regulations, and economic interventions aimed at stabilizing the economy.
His tenure also coincided with major economic challenges, including recession, inflation, and the impact of the COVID-19 pandemic.
The current case, therefore, is seen as part of a broader effort to review past decisions and ensure accountability in public office.
As proceedings continue, attention will focus on the testimonies of the summoned witnesses and the evidence they present in court.
The court is expected to resume hearing with their appearance, as the prosecution and defense continue to make their arguments.