In the ongoing trial of Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), shocking revelations emerged as John Ikechukwu Ayoh, a former CBN director, testified against Emefiele and his co-defendant, Henry Omoile, at the Lagos High Court. Ayoh accused Emefiele of collecting kickbacks totaling $600,000 in cash from contractors during his tenure as CBN governor.
Presented as the second witness by the Economic and Financial Crimes Commission (EFCC), Ayoh disclosed that he served at the apex bank from June 2014 to April 2019, under the leadership of Emefiele. He clarified that although he did not work directly under Emefiele, he reported to Adebayo Adelabu, a former deputy governor of the CBN.
Ayoh, who headed the procurement and support services (PSS) department of the apex bank, revealed that he received gratification from contractors as instructed by Emefiele. He recounted two instances where he collected $400,000 and $200,000 in cash from contractors and handed the money over to Emefiele’s personal assistant, John Adetona.
Detailing the transactions, Ayoh stated, “The first transaction was $400,000, and the second one was $200,000 in cash. I was in my house when the first envelope was brought to me. His assistant was asked to collect the money.”
He further explained that the kickbacks were linked to contracts awarded by the CBN, emphasizing that Emefiele would not approve contracts without receiving gratification.
Under cross-examination by Emefiele’s counsel, Olalekan Ojo, Ayoh admitted feeling pressured by Emefiele to accept the kickbacks but denied aiding the commission of a crime. However, he affirmed that the cash was intended as gratification to influence the award of contracts.
Responding to questions about his encounter with the EFCC, Ayoh disclosed that he was invited by the anti-graft agency and subsequently granted bail.
Following the witness’s testimony, Emefiele’s counsel requested a fresh interim bail for the former CBN governor, citing failure to meet previous bail conditions.
The presiding judge, Rahman Oshodi, granted the request, extending Emefiele’s bail until May 17.
As the trial unfolds, these revelations cast a spotlight on allegations of corruption within Nigeria’s financial institutions, raising concerns about transparency and accountability in public office.
The court’s decision to extend Emefiele’s bail underscores the gravity of the accusations, signaling a protracted legal battle ahead.