RismadarVoice Reporters
November 12, 2026
A prosecution witness has told the Lagos State Special Offences Court that former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, allegedly acquired properties worth billions of naira through associates while serving as head of the apex bank.
The witness, Alvan Gurumnaan, an investigator with the Economic and Financial Crimes Commission (EFCC), gave the testimony on Thursday before Justice Rahman Oshodi in Ikeja, Lagos.
Emefiele is standing trial alongside Henry Omoile over allegations involving gratification, corrupt demands and abuse of office in transactions reportedly valued at $4.5 billion and ₦2.8 billion.
Led in evidence by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo, SAN, Gurumnaan alleged that investigations uncovered properties whose values exceeded Emefiele’s legitimate earnings.
According to the witness, the former CBN governor allegedly used associates to acquire residential buildings, commercial properties and industrial facilities across Lagos, Delta, Ogun and Abuja.
He identified the assets as including twin duplexes in Lekki Phase 1, two mansions on Queens Drive in Ikoyi and eight apartments on Adekunle Lawal Street, Lagos.
Other properties mentioned included an industrial facility under construction in Agbor, Delta State, and a warehouse in Ogun State.
The investigator also referred to a multi-storey residential development comprising approximately 94 luxury apartments and an Abuja estate containing hundreds of housing units.
Gurumnaan alleged that some associates received funds and acquired properties on Emefiele’s behalf.
He further told the court that several assets linked to the former CBN governor had been forfeited to the Federal Government following judicial proceedings.
The testimony comes months after the Supreme Court, in July 2026, upheld the final forfeiture of seven properties, $2.045 million and share certificates linked to Emefiele.
However, the forfeiture proceedings are legally distinct from the ongoing criminal trial and do not, by themselves, establish guilt on the charges before Justice Oshodi.
Emefiele’s counsel, Olalekan Ojo, SAN, challenged aspects of the witness’s testimony, arguing that certain properties mentioned were not included in the charges against his client.
The prosecution maintained its position and sought to rely on relevant judicial documents.
Justice Oshodi adjourned proceedings until November 13 for continuation of the trial and consideration of outstanding evidentiary issues.
Emefiele and his co-defendant remain presumed innocent of the criminal allegations unless proven guilty by a competent court.
