A senior Central Bank of Nigeria (CBN) official, Michael Onyeka Ogbu, yesterday, explained why the organisation released $6,230,000 for payment of some international observers prior to last year’s general elections.
 
The Deputy Director and Head of Service Delivery Division said the funds were disbursed upon receipt of documents bearing approvals by ex-President Muhammadu Buhari and immediate past governor of the apex bank, Godwin Emefiele.  He spoke while testifying as a prosecution witness in Emefiele’s trial.
  
The embattled banker is being prosecuted on a 20-count amended charge, filed by office of Attorney General of the Federation (AGF), in which he is among others, accused of engaging in criminal breach of trust, forgery, conspiracy to obtain by false pretence and obtaining money by false pretence.
  
Emefiele is, in the amended charge, accused of forging a document titled: Re: Presidential Directive on Foreign Election Observer Mission dated January 26, 2023 with Ref No. SGF.43/L.01/201 and purportedly transmitted from office of Secretary to Government of the Federation (SGF) to the CBN Governor to provide a contingent logistic advance in the sum of $6,230,000 “in line with Mr. President’s directive.”
  
Ogbu, who was led in evidence by Rotimi Oyedepo (SAN), said he served as Branch Controller until his redeployment last September.  He recalled that on February 8, 2023 there was a request for payment, addressed to the Branch Controller.  His words: “On that day the request for payment of $6,230,000 was received in my office by my office assistant, who brought it to my attention.

 “When I received the document, I found that it was from the Banking Services Department. “The Director, Banking Services signed the memo, and the content of the memo contained an instruction for the Branch Controller to pay the sum of $6,230,000 to a staff of the Secretary to the Government of the Federation, with the identity and name of the person mentioned.”
 

“The memo said the payment was for international election observers and that we should debit an account – Naira Forex Account – with the Naira equivalent of $6,230,000.
 
“The memo also said that the money will be refunded in the second quarter of 2023 by the Federal Ministry of Finance.   
 
“It went on to say ‘find attached the approval of the governor of the CBN for the payment.’
 
“The attachment had the approval of the governor of the CBN. It also had the approval of the President of the Federal Republic of Nigeria and the request letter from the Secretary to the Government of the Federation.”
  
The witness said after going through the documents and was satisfied, he minuted it to the Head of Business  Services Unit for processing and payment. On whether the money was eventually released, Ogbu said: “Payment was eventually made. The $6,230,000 was paid on September 8, 2023. The payment was in cash.”