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EFCC Secures Bank Fraud Conviction in Lagos, Opposes Emefiele’s No-Case Submission in $6.23m Trial
By Joseph Sunday
The Economic and Financial Crimes Commission, EFCC, recorded developments in two separate cases on Monday and Tuesday.
On Monday, October 19, 2026, the Lagos Zonal Directorate 1 of the Commission secured the conviction of a former banker, Chukwuebuka Nweke, before Justice Ismail Ijelu of the Lagos State High Court, Ikeja.
The court heard that Nweke, on June 21, 2025, accessed without lawful authority a desktop computer assigned to one Emmanuella Anyanwu and facilitated the unauthorised withdrawal of N1 million from an account belonging to Leelee Dumbari domiciled in a new generation bank. The offence is contrary to Section 386(1) of the Criminal Law of Lagos State, 2011.
Nweke was arraigned on a one-count charge and pleaded not guilty, prompting a full trial. Prosecution counsel, M.K. Bashir, called five witnesses, while the defence called one witness.
Justice Ijelu found him guilty as charged and sentenced him to a fine of N1 million, payable within 30 days, in default of which he would serve six months in a correctional centre.
In a separate development on Tuesday, October 20, 2026, the EFCC urged Justice Hamza Mu’azu of the Federal Capital Territory High Court, Maitama, Abuja, to dismiss the no-case submission filed by former Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele.
Emefiele is standing trial on an amended 20-count charge bordering on criminal breach of trust, forgery, abuse of office, conspiracy and obtaining money by false pretence. The charges include allegations relating to the withdrawal of $6.23 million and the conferment of corrupt advantage in the award of CBN contracts.
Prosecution counsel, the Director of Public Prosecution of the Federation, Rotimi Oyedepo, SAN, argued that the prosecution had established a prima facie case requiring the defendant to enter his defence, and that a no-case submission is not meant to determine guilt or evaluate credibility at this stage.
On the contract counts, Oyedepo submitted that contracts valued between $6 million and $10 million did not pass through the Major Contracts Tenders Board established under the Public Procurement Act, 2007, and chaired by a Deputy Governor of the CBN, even though contracts above $1 million were required to be reviewed by the Board. He cited testimony from PW10, a staff of the Procurement Department, that officials were allegedly instructed to favour a company linked to Emefiele’s associates after being furnished with the CBN’s in-house prices.
The prosecution also alleged that exhibits bearing Emefiele’s approval signatures and corporate records linked him to companies associated with his wife, brother-in-law and associate, Sa’adatu Ramalan Yaro, including Architekon Nigeria Limited. According to the EFCC, the company existed for years without winning such contracts until Emefiele became Governor, after which it allegedly received all 45 contracts under consideration.
On the alleged $6.23 million withdrawal, the EFCC submitted that the funds were withdrawn from the CBN between February and June, before Emefiele’s removal, purportedly on the strength of letters attributed to former President Muhammadu Buhari and former Secretary to the Government of the Federation, Boss Mustapha, which witnesses, including Mustapha and a forensic analyst, said were forged. The prosecution also relied on testimony from PW15 that the withdrawal triggered an automatic debit notification to Emefiele, but he allegedly took no action.
Defence counsel, Matthew Burkaa, SAN, had urged the court to discharge Emefiele, arguing that the prosecution failed to prove conferment of undue advantage.
Justice Mu’azu said the date for ruling on the no-case submission will be communicated to parties.
Both developments were contained in separate statements signed by Dele Oyewale, Head, Media & Publicity of the EFCC.
Central Bank of Nigeria
Muhammadu Buhari
