A senior official from the Central Bank of Nigeria, Michael Onyeka Ogbu, provided insights into why the apex bank released $6,230,000 for the payment of international election observers before the last general elections.

Ogbu, currently a deputy director and head of the service delivery division of the CBN, stated that the funds were released based on the evidence of approvals by then-President Muhammadu Buhari and the immediate past Governor of the CBN, Godwin Emefiele.

Ogbu testified as a prosecution witness in the trial of Emefiele, who faces a 20-count amended charge, including criminal breach of trust, forgery, conspiracy, and obtaining money by false pretense.

The charges allege that Emefiele knowingly obtained $6,230,000 by falsely representing a presidential directive, which he purportedly forged.

During the trial, Ogbu recounted receiving a payment request of $6,230,000 on February 8, 2023.

The request, addressed to the Branch Controller, contained instructions for the payment related to international election observers.

The Director of Banking Services signed the memo, indicating approval from the Governor of the CBN and the President of Nigeria. The memo detailed that the money would be refunded in the second quarter of 2023 by the Federal Ministry of Finance.

After examining the documents, Ogbu confirmed the approvals and processed the payment. He stated, “The $6,230,000 was paid on the 8th of September 2023. The payment was in cash.”

During the trial, documents related to the payment were presented, including a payment slip, memo from the Banking Services Department, request for approval from the Director of Banking Services, identification of the authorized cashier, and a request letter from the Secretary to the Government of the Federation conveying presidential approval.

The defense objected to the presentation of uncertified documents, leading to a request for a brief stand-down to certify them properly. The trial is set to continue on February 13, 2024.