The Economic and Financial Crimes Commission (EFCC) disclosed that the Lagos State Special Offences Court in Ikeja has accepted further evidence in the ongoing legal proceedings against Godwin Emefiele, the former Central Bank of Nigeria (CBN) Governor, accused of involvement in a $4.5 billion fraud case.
On Thursday, the EFCC issued a statement indicating that Justice Rahman Oshodi made the decision to admit additional evidence during a court session held on October 9, 2025.
“Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on October 9, 2025, admitted more evidence against a former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, in an alleged $4.5bn fraud,” the commission said.
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Emefiele faces 19 charges brought by the EFCC, which include allegations of accepting illegal gratifications and other financial misconduct.
Henry Omoile, Emefiele’s co-defendant, is charged with three counts related to the unlawful receipt of gifts as an agent.
According to the EFCC, the trial judge postponed the case to December 2 and 3, 2025, for a focused mini-trial.
“The case was adjourned till December 2 and 3, 2025, for mini-trial,” the EFCC noted.
The ruling on Thursday represents a significant development in the prosecution of Emefiele, who was initially charged in 2023 after investigations into alleged misuse of authority and significant financial irregularities during his time as CBN Governor.
Appointed by former President Goodluck Jonathan in 2014 and continued under President Muhammadu Buhari, Emefiele faced intense criticism for controversial policies, including the 2023 naira redesign and restrictions on cash withdrawals, which caused widespread economic challenges and public discontent.
Emefiele has consistently maintained his innocence, asserting that all decisions made during his leadership at the CBN complied with legal standards and served the nation’s interests.
In prior hearings, the EFCC presented various pieces of evidence, including digital records such as WhatsApp conversations retrieved from a phone allegedly belonging to Emefiele.
The defense has repeatedly contested the validity of certain evidence, claiming that the EFCC failed to adhere to proper procedures in obtaining or authenticating it.
A key point of dispute has been the forensic examination of a device, reportedly an iPhone, with disagreements over the methods used and the extent of access provided to forensic experts.
The EFCC previously alleged that billions of naira and foreign currency were traced to accounts and properties linked to Emefiele.
In 2024, a Federal High Court in Lagos issued an interim forfeiture order for over $4.7 million, ₦830 million, and multiple properties allegedly connected to Emefiele, with a subsequent court ruling finalizing the forfeiture of assets valued at over ₦12 billion.
Emefiele, who led the CBN from 2014 to 2023, continues to deny all accusations, maintaining that his actions were lawful and in the nation’s best interest.
The EFCC first brought charges against him in December 2023, following his suspension and arrest by the Department of State Services.
He was later re-arraigned on revised charges related to alleged fraud, abuse of office, and illicit receipt of benefits.