Jim Obazee, a prosecution witness for the Economic and Financial Crimes Commission (EFCC), has told the Federal Capital Territory High Court that late former President Muhammadu Buhari and former Secretary to the Government of the Federation (SGF), Boss Mustapha, should have been prosecuted alongside former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, over the alleged fraudulent withdrawal of $6.23 million from the apex bank.

Obazee made the statement on Friday while testifying before Justice Hamza Muazu in the ongoing trial of Emefiele, who is facing an amended 20-count charge bordering on conferring corrupt advantages, conspiracy, criminal breach of trust, forgery and obtaining by false pretence.

The witness, who was appointed by President Bola Tinubu in July 2023 as a special investigator to probe the activities of the CBN and related entities, was led in evidence by EFCC counsel, Rotimi Oyedepo.

During his testimony, Obazee alleged that the $6.23 million was fraudulently withdrawn from the CBN’s Abuja branch under the guise of funding a foreign election observer mission for the 2023 general election.

He told the court that the money was withdrawn from the apex bank and handed over to individuals he described as suspected criminals.

According to him, the special investigation panel recovered $856,500 from Bashirudeen Maishanu, a CBN staff member, whom he said should also face prosecution alongside Emefiele.

Obazee argued that the prosecution should not be limited to Emefiele alone, insisting that several other individuals allegedly connected to the transaction should equally be held accountable.

“For actions and inactions, Mr Buhari ought to be charged and must be charged along with Emefiele in this $6.2 million fraud, even if posthumously, since national honours are given posthumously,” Obazee told the court.

He further stated that the Federal Government’s decision to prosecute only Emefiele was unfortunate, alleging that more than 10 individuals were involved in the transaction.

“Whatever you are doing to Mr Emefiele by way of prosecution ought to have been done to Buhari, Mustapha and Bashirudeen Maishanu and former board members of the CBN under Mr Emefiele,” he added.

The testimony comes despite an earlier appearance by Mustapha as a prosecution witness in February 2024, during which he denied that former President Buhari authorised the release of the funds.

The EFCC is prosecuting Emefiele over allegations that he abused his office and fraudulently authorised the withdrawal of $6.23 million from the CBN. Emefiele has denied all the allegations against him.

At the close of Friday’s proceedings, Justice Muazu adjourned the matter until October 20, 2026, for the adoption of final written addresses.

Counsel to the defence also informed the court that a no-case submission would be filed on behalf of Emefiele, asking the court to dismiss the charges on the grounds that the prosecution had failed to establish a prima facie case against the former CBN governor.