Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, is at the center of a significant corruption case, with an operative of the Economic and Financial Crimes Commission (EFCC), Alvan Gurumnaan, testifying that Emefiele allegedly received $17.1 million in cash through a proxy. These alleged transactions are said to have occurred between 2020 and 2023.

Testifying before Justice Rahman Oshodi at the Lagos State Special Offences Court in Ikeja on Tuesday, May 27, Gurumnaan detailed how the funds were purportedly delivered in several tranches. The cash was reportedly handed over to Henry Omoile, an associate of Emefiele and the second defendant in the case, at Emefiele's residence in Ikoyi. The EFCC operative explained that the investigation drew heavily from statements made by Monday Osazuwa, a dispatch rider who had previously testified as the prosecution's first witness. Osazuwa allegedly admitted to collecting the money on behalf of Emefiele and delivering it to Omoile as instructed.

Gurumnaan elaborated on the alleged mechanism, stating, "The personal errands Osazuwa ran for Emefiele, according to him, was when he received a call from Emefiele, who then sent him a phone number and asked him to call Mohit who was in London and after he called Mohit, Mohit gave him the contact of an individual. Osazuwa met the individual from September 2020 to 2023, and received monies in dollars on behalf of Emefiele — a total of $17,100,000." The witness added that most of these transactions allegedly occurred on Fridays.

The evidence presented by the EFCC includes WhatsApp messages extracted from the proxy’s phone, which are said to confirm the transactions. Gurumnaan affirmed that permission was obtained before accessing the device and that the messages were printed in the presence of the EFCC team. It was also mentioned that "Mohit, Raja’s boss," confirmed these dealings. These specific allegations form part of a larger indictment against Emefiele and Omoile, who face a 19-count charge related to corrupt demands and gratification amounting to $4.5 billion and N2.8 billion.

The EFCC's investigation was initiated following several petitions against Emefiele, alleging abuse of office and illicit fund receipts. Gurumnaan, a member of the EFCC’s Special Investigation Department since 2008, revealed that the commission gathered documents from various institutions, including the CBN, the Corporate Affairs Commission (CAC), the Department of Legal Services, and the Financial Market Dealers Quotations. Several officials connected to the case and individuals close to Emefiele, including John Adetola and John Ogah, were interviewed. However, one suspect, Eric Udoh, who featured prominently in the investigation, remains at large. Gurumnaan stated that efforts were made to locate Udoh, who has been traced to the Dominican Republic, Canada, and the United Kingdom, leading to an Interpol red notice being issued for him.

Following the extensive testimony, Justice Rahman Oshodi adjourned the trial to October 7 and 8, 2025, for continuation. This high-profile case underscores the ongoing efforts to combat corruption within Nigeria's financial institutions.

In a related development, it was reported that the federal government plans to sell a 753-unit estate linked to Emefiele, which was recovered by the EFCC. While sales have not officially commenced, the government has indicated that the properties will be sold to ordinary Nigerians through a federal government portal, potentially with flexible payment options. This move is seen as part of the broader effort to recover and repurpose assets allegedly acquired through corrupt means.