Market News

How Emefiele moved funds through wife - Witness - THE GUARDIAN

JULY 10, 2024

The Assistant Manager of Zenith Bank Plc, Ms Ifeoma Ogbonna, has told a Lagos Special Offences Court that the embattled former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, through the bank moved multimillion naira to his wife, Mrs Margaret Emefiele.

She said the firms that CBN vendors are Answabian Resources and Solution, Limelight Dimensional Service Limited, Omec Support Service Limited, and Mango Farm.

Led in evidence by the lead counsel for the Economic and Financial Crimes (EFCC), Mr Rotimi Oyedepo (SAN), the fifth prosecution witness (Ogbonna) narrated to Justice Rahman Oshodi that she received instructions from Emiefele’s wife to transfer funds to firms’ Zenith Bank accounts.

It would be recalled that Emefiele is standing trial over abuse of office, alleged $4.5 billion and N2.8 billion fraud while in office. He was charged alongside his co-defendant Henry Omoile.

However, in her testimony, she said she joined Zenith Bank in 2006 as a Business Relationship Manager, also known as Marketer. She said she joined the marketing team in 2017 and managed customer portfolio.

“We also collaborate with other departments and are responsible to mobilise deposit funds. Before, I worked as a customer service team lead at Opebi Branch. But currently, I am an Assistant Manager of Zenith Bank Plc.”

Ogbonna continued that she has no personal relationship with the former CBN governor, Emefiele.

She noted that whenever Madam Emefiele sends them instructions or sends instructions through the other two people who worked with them, she usually confirm from her via WhatsApp chats.

She, however, said that she managed the various companies’ accounts through which the multimillion naira was sent.

She said, “Mrs Margaret Emefiele, the ex-CBN governor’s wife, is the direct beneficiary of the accounts. The companies sent transfer instructions to my email and Margaret is the beneficial owner of the accounts.


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