$6.23 Million Theft from CBN: Key Suspects Identified in the UK, INTERPOL Engaged for Arrest

A Federal High Court in Abuja has been informed that Odoh Ocheme, a former aide to ex-Central Bank of Nigeria (CBN) Governor Godwin Emefiele, along with two others accused of stealing $6,230,000 from the apex bank, are currently residing in the United Kingdom (UK).

The revelation was made by Celestine Odo, a police prosecutor, during court proceedings on Thursday. The two other accused individuals, Adamu Abubakar and Imam Abubakar, are also believed to have fled the country.

Arrest Warrant and INTERPOL Involvement

Odo reminded the court that an arrest warrant had been issued for the suspects on February 7, 2024. As part of efforts to bring them to justice, the International Criminal Police Organisation (INTERPOL) has been notified and is coordinating their possible extradition.

“They are in the UK. Until they are pinned down and arrested, we cannot bring them before the court. We are relying on the cooperation of INTERPOL member states to achieve this,” Odo told the court.

The prosecution requested an adjournment to allow INTERPOL to explore avenues for their capture.

How the $6.23 Million Was Stolen

Court documents reveal that the stolen $6.23 million was illicitly withdrawn from the CBN vault on February 8, 2023, under the pretense of paying election observers.

The funds were allegedly misappropriated following a letter dated January 26, 2023, with Ref No. SGF.43/L.01/201. The prosecution contends that this letter, supposedly from the Office of the Secretary to the Government of the Federation (SGF), was forged to facilitate the theft.

The investigation team, set up by President Bola Tinubu and led by Jim Obaze, traced the money’s distribution and identified the following allocations:

• Odoh Eric Ocheme (Emefiele’s Personal Assistant): $3,730,000
• Adamu Abubakar and Imam Abubakar: $2,500,000

Authorities claim that all three suspects fled the country shortly after the incident, prompting extradition efforts.

Forgery and Insider Involvement

Court filings indicate that the scheme was an inside job orchestrated by CBN officials with the assistance of external collaborators. Investigators uncovered a forged letter dated January 2, 2023, allegedly written by former President Muhammadu Buhari to then-SGF Boss Mustapha. A second fraudulent letter, dated January 20, 2023, was presented as authorization from Mustapha to Emefiele, prompting the CBN to release the funds.

Further investigations established that:

• The letters were forged and never originated from Buhari’s office.
• Jibril Abubakar, the individual who withdrew the money, was not a staff member of the SGF’s office.

CCTV Footage and Key Arrests

Closed-Circuit Television (CCTV) footage from February 8, 2023, captured the fraudulent withdrawal process at the CBN Abuja Branch. Investigators identified Abdulmajeed Muhammad, a CBN staff member, who facilitated entry for the impostor Jibril Abubakar.

Under interrogation, Muhammad admitted to assisting Jibril Abubakar but claimed he was deceived into believing the withdrawal was legitimate. He revealed that he was referred to Jibril Abubakar by Bashirudeen Maishanu, a senior CBN staffer.

Confessions and Money Laundering

• Bashirudeen Maishanu was later arrested and confessed to being part of the fraudulent scheme.
• He revealed that himself, Adamu Abubakar, and Imam Abubakar shared $2,500,000, while Ocheme kept $3,730,000, allegedly to cover other interests within the CBN.
• The suspects laundered the stolen funds through real estate investments in Afrolyk Global Ltd.
• Aminu Lawal, Managing Director of Afrolyk Global Ltd, was arrested and confirmed receiving the stolen money as an investment.

Partial Recovery of Stolen Funds

• Afrolyk Global Ltd refunded $200,000 to investigators.
• Bashirudeen Maishanu voluntarily returned $400,000 from his share.
• The remaining stolen funds remain largely unaccounted for, as the money was distributed in cash, making tracking difficult without arresting all suspects.

Emefiele’s Involvement and Ongoing Trial

Godwin Emefiele, the former CBN governor, is facing a 20-count amended criminal charge from the Economic and Financial Crimes Commission (EFCC). Charges include:

• Criminal breach of trust
• Forgery and conspiracy to commit forgery
• Procurement fraud
• Conspiracy to commit a felony

Emefiele, who was questioned at the Kuje Correctional Centre, denied any involvement and insisted he never approved the fraudulent withdrawal memos. However, investigators believe that his former aide, Odoh Ocheme, played a central role in orchestrating the crime.