Photo: The Central Bank of Nigeria headquarters in Abuja — Wikimedia Commons
An investigator with the Economic and Financial Crimes Commission (EFCC) has told a Lagos court that former Central Bank of Nigeria governor Godwin Emefiele acquired multi-billion naira properties through associates and proxies while in office.
Alvan Gurumnaan, the seventh prosecution witness, testified on Thursday before Justice Rahman Oshodi at the Lagos State Special Offences Court in Ikeja. The claims are allegations before the court: Emefiele has pleaded not guilty.
- Properties listed include twin duplexes in Lekki, mansions on Queen's Drive, Ikoyi, and a 750-unit estate in Abuja
- The EFCC says over $2 million in cash was recovered from a lawyer it describes as a front
- Emefiele faces a 19-count charge involving $4.5 billion and 2.8 billion naira
What the EFCC investigator told the court
Gurumnaan said investigators traced properties in Lagos, Delta, Ogun and Abuja that were beyond what Emefiele's legitimate earnings as CBN governor could support, and that some have already been forfeited to the Federal Government following court orders, with forfeiture judgments estimated above 100 billion naira.
The properties he listed include two sets of twin duplexes in Lekki Phase 1, two mansions on Queen's Drive in Ikoyi, eight flats on Adekunle Lawal Street in Ikoyi, a high-rise of about 94 flats, an estate of about 750 houses in Lokogoma, Abuja, a factory under construction in Agbor, Delta State, and a warehouse in Ogun State.
He said more than $2 million in cash was recovered from the office of lawyer Ifeanyi Omeke, who, according to the witness, admitted acting as a front and receiving money on Emefiele's behalf.
Emefiele's trial and the forex allegations
The witness also alleged that companies seeking foreign exchange paid millions of dollars through intermediaries before accessing forex or contract payments, naming an aide and co-defendant Henry Omoile among those who allegedly received funds.
Emefiele faces 19 counts bordering on gratification, corrupt demands and abuse of office; Omoile faces three counts over alleged unlawful acceptance of gifts. Defence lawyers challenged parts of the testimony; Justice Oshodi overruled the objection and said the defendants may cross-examine the witness.
What happens next
The trial was adjourned to today, Friday, November 13, for continuation, when the prosecution's evidence will be further tested under cross-examination.
Credit: Punch, Radio Nigeria Lagos and court reports of November 12, 2026. All property and payment claims above are EFCC allegations in an ongoing trial.
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