An Assistant Manager at Zenith Bank Plc, Ifeoma Ogbonnaya, provided crucial testimony on Tuesday at the Ikeja Special Offences Court, revealing how former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, allegedly transferred substantial sums of money to his wife, Margaret Emefiele.
Ogbonnaya’s testimony detailed the transfer of multimillion-naira amounts through Zenith Bank to accounts controlled by Mrs. Emefiele. The former CBN Governor, Godwin Emefiele, is currently facing charges of abuse of office and alleged fraud involving $4.5 billion and ₦2.8 billion during his tenure.
As the fifth prosecution witness, Ogbonnaya was led in evidence by Rotimi Oyedepo, SAN, the counsel for the Economic and Financial Crimes Commission (EFCC). She explained how Emefiele utilized Zenith Bank to move funds in tranches through several companies, including Amswing Resources and Solution, Limelight Dimensional Service Ltd., Omec Support Service Ltd., and Mango Farm.
“Limelight manages CBN facilities at Alakija, handling transactions related to power and maintenance,” Ogbonnaya noted.
Ogbonnaya, who has been with Zenith Bank since 2006, clarified that although she never dealt directly with the ex-CBN governor, she received instructions from his wife to transfer funds from the CBN to their private companies via Zenith Bank accounts. She also received directives from Mr. John Ogah and the late Mr. Opeyemi Oludimu, both of whom were associated with the Emefieles.
Managing the various company accounts used for these transfers, Ogbonnaya emphasized that Margaret Emefiele was the primary beneficiary. “Mrs. Margaret Emefiele, the ex-CBN governor’s wife, is the direct beneficiary of the accounts. The companies sent transfer instructions to my email, and Margaret is the beneficial owner of the accounts. All transactions were confirmed by Mrs. Emefiele before processing,” she testified.
Ogbonnaya provided specific transaction details, stating that from March 9 to 11, 2015, the accounts received ₦18.9 million and ₦1.8 million, respectively. Further transfers included ₦43 million on February 22, 2021; ₦37.3 million on July 21, 2022; ₦44.6 million on October 21, 2022; and ₦93.1 million on May 10, 2023.
The witness explained that she typically communicated with Emefiele’s wife via email, phone calls, and WhatsApp to discuss the transactions before processing them. Ogbonnaya confirmed that detailed transaction records were printed from her office desktop computer.
The case continues as the prosecution presents further evidence against the former CBN Governor.
