Buhari Should Have Stood Trial' — Tinubu’s Investigator Drops Bombshell in Emefiele’s Court Case.

A dramatic twist unfolded at the Federal Capital Territory High Court in Abuja on Friday as President Bola Tinubu’s Special Investigator on the Central Bank of Nigeria, Jim Obazee, declared that the late former President Muhammadu Buhari should have stood trial over the controversial $6.2 million Central Bank transaction now at the centre of former CBN Governor Godwin Emefiele’s corruption case. Obazee also insisted that former Secretary to the Government of the Federation, Boss Mustapha, alongside several other officials, should be prosecuted, describing the alleged fraud as a coordinated operation involving multiple actors rather than Emefiele alone.

The ongoing trial of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, took another dramatic turn on Friday after President Bola Tinubu's Special Investigator on the CBN, Jim Obazee, testified that the alleged $6.2 million fraud should not be pinned solely on the former apex bank chief.

Appearing before Justice Hamza Muazu at the High Court of the Federal Capital Territory in Abuja as the Economic and Financial Crimes Commission's (EFCC) prosecution witness, Obazee told the court that the late former President Muhammadu Buhari, former Secretary to the Government of the Federation (SGF), Boss Mustapha, and several other officials ought to have been prosecuted over their alleged roles in the controversial transaction.

Emefiele is currently standing trial on a 20-count charge bordering on conspiracy, abuse of office and fraud instituted by the EFCC.

During his testimony, led by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo (SAN), Obazee was presented with documents allegedly linked to the transaction. These included a letter purportedly bearing Buhari's signature authorising the release of $6.2 million and another document allegedly issued from the Office of the Secretary to the Government of the Federation directing the CBN to release the funds to one Jibril Abubakar.

According to the prosecution, the funds were allegedly meant to finance logistics for foreign election observers.

However, Obazee told the court that subsequent statements obtained during investigations revealed that Boss Mustapha denied any knowledge of the transaction. The former SGF reportedly claimed that the documents attributed to his office, including the approval allegedly signed by Buhari, were forged.

Despite those denials, Obazee maintained that the circumstances surrounding the transaction pointed to the involvement of several individuals, insisting that the investigation should not end with Emefiele alone.

He argued that if justice were to be fully served, Buhari should have been prosecuted were he alive, while Boss Mustapha, Jibril Abubakar, CBN official Bashirudeen Maishanu, and other officials connected to the transaction should equally be arraigned.

The investigator further criticised the Abuja branch of the Central Bank, accusing its officials of failing to conduct the necessary due diligence before approving and releasing the funds.

He disclosed that during the course of his investigation, one of the officials, Bashirudeen Maishanu, refunded the sum of $856,500 to the investigative panel.

However, under cross-examination by Emefiele's counsel, Matthew Burkaa (SAN), Obazee admitted that investigators did not recover any money directly from the former CBN governor. He also conceded that no evidence was found showing that any part of the alleged proceeds was transferred into Emefiele's personal bank account.

Nevertheless, Obazee argued that, as the head of the Central Bank at the time, Emefiele should have been aware of the transaction. He maintained that if the bank's internal control systems including its CCTV surveillance infrastructure and Bank Verification Number (BVN) tracking mechanisms had been properly utilised, the movement of the funds could have been detected or prevented.

The witness also disclosed that President Bola Tinubu personally invited him on December 19, 2023, in the presence of the Attorney General of the Federation and the EFCC Chairman, where he was directed to investigate the alleged $6.2 million fraud and identify offences that could support criminal prosecution.

However, the defence pointed out that criminal charges against Emefiele had already been filed before the date Obazee claimed he received the presidential directive. Responding to the apparent contradiction, the investigator said he was not a lawyer and could not explain why the charges preceded his assignment.

Following the day's proceedings, Justice Hamza Muazu adjourned the matter until October 20 for the continuation of trial, as the high-profile case continues to generate intense public and political attention.