Ex-banker: I processed billions in cash deposits for Emefiele

A former employee of Zenith Bank has told the Federal Capital Territory High Court in Abuja that he handled cash deposits worth billions of naira for former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, acting on instructions allegedly relayed through Emefiele’s personal assistant.

The witness, Richard Agulu, gave the testimony on Wednesday as the Economic and Financial Crimes Commission (EFCC) continued prosecuting Emefiele over an alleged ₦7.8 billion fraud before Justice Yusuf Halilu.

Agulu, the prosecution’s third witness, said that while working at Zenith Bank, he regularly received large sums of cash from Eric Ocheme, identified as Emefiele’s personal assistant. According to him, the funds were either deposited into the accounts of Ifeabigo Integrated Services and Kelvito Integrated Services or kept in the bank’s vault.

During cross examination by Emefiele’s lawyer, Mathew Burkaa (SAN), Agulu said he carried out the transactions strictly on instructions communicated by Ocheme over the telephone, adding that the directives originated from the former CBN governor.

He told the court that although the assignments were unusual, every transaction followed the bank’s standard procedures.

“For every transaction, I followed normal banking procedures. I was given a verbal waiver by my superiors to attend to the defendant’s transactions,” Agulu said.

However, the former banker declined to identify the bank officials who allegedly granted him the verbal approval when questioned by the defence.

He maintained that he merely performed his assigned duties and that all transactions were authorised by his superiors.

Justice Halilu adjourned the matter to allow the prosecution to continue presenting its case.

Emefiele is facing an amended 20-count charge bordering on alleged criminal breach of trust, conspiracy, forgery, unlawful possession of property and conferring corrupt advantage involving about ₦7.8 billion. He has pleaded not guilty to all the charges.

The EFCC alleges that large amounts of cash were lodged in accounts operated by Kelvito Integrated Services and Ifeabigo Integrated Services, companies investigators claim were used in transactions linked to the former CBN governor.

In addition to the Abuja case, Emefiele is also standing trial in Lagos over separate allegations involving abuse of office, unlawful gratification and foreign exchange transactions running into billions of naira and millions of dollars. He has consistently denied all allegations and is contesting the charges in court.