Obazee Calls for Prosecution of Buhari and Mustapha
Jim Obazee, the special investigator appointed by President Bola Tinubu to probe the Central Bank of Nigeria (CBN) under Godwin Emefiele, has questioned why former President Muhammadu Buhari and former Secretary to the Government of the Federation (SGF), Boss Mustapha, were not prosecuted alongside Emefiele for the fraudulent withdrawal of $6.23 million from the CBN vault in February 2023. Obazee made this statement as the 15th prosecution witness in Emefiele's corruption trial before the FCT High Court in Maitama, Abuja, on Friday.
“For actions and inactions, Mr Buhari ought to be charged and must be charged along with Emefiele in this $6.2 million fraud, even if posthumously, since national honours are given posthumously,” Obazee said, while being led in evidence by prosecution lawyer Rotimi Oyedepo, a Senior Advocate of Nigeria (SAN). The investigator, whose months-long probe into corruption at the CBN drew attention and triggered key reforms, stated that Buhari, Mustapha, and others should face prosecution like Emefiele.
Details of the Fraudulent Withdrawal
The $6.23 million allegation is part of 20 charges on which the Economic and Financial Crimes Commission (EFCC) is prosecuting Emefiele. Other charges include criminal breach of trust, forgery, obtaining by false pretence, conspiracy to commit forgery, procurement fraud, and conspiracy to commit a felony. Emefiele has maintained his innocence, denying all charges.
In Count 20 of the indictment, the prosecution alleged that Emefiele and his aide, Odoh Eric Ocheme, who is said to be at large, “knowingly obtained by false pretence” $6.23 million from CBN on 8 February 2023. The prosecution alleged that the suspects used a false letter dated 26 January 2023, with Ref No. SGFF.43/L.01/201, purportedly issued by the SGF, requesting the CBN to provide $6.23 million as “a contingent logistic advance” based on an acclaimed presidential directive.
Obazee's Testimony and Outburst
Obazee became visibly upset when shown a letter from the Presidency said to have been signed by Buhari approving the release of $6.23 million, and another letter from the SGF's office directing the release to a staff member, Jubril Abubakar. He also expressed anger when his attention was drawn to Mustapha's extrajudicial statement. This led to his outburst, questioning why former SGF Mustapha and others were not prosecuted.
“The situation in Nigeria is a very unfortunate one, especially for the federal government to have put only Emefiele on trial in an alleged fraud that involved more than 10 people,” Obazee said. He noted that the money was released to suspected criminals without due diligence.
Legal Implications and Calls for Deterrence
Obazee stated that by virtue of the CBN Act, the N2.8 billion equivalent of the stolen $6.2 million ought to have been deposited in an account before being handed in raw cash to the suspected criminals. “Whatever you are doing to Mr Emefiele by way of prosecution ought to have been done to Messrs Buhari, Mustapha, and Bashirudeen Maishanu and former board members of the CBN under Mr Emefiele. If all of them are prosecuted, it will serve as a deterrent, and problems of Nigeria will be reduced and eliminated by 50 per cent,” Obazee said.
He called for the prosecution of Bashirudeen Maishanu, a current CBN staff member who allegedly refunded $856,500 of his share to the special investigation panel. Obazee acknowledged Mustapha's denial of knowledge of the heist but attached no weight to it. “As for Boss Mustapha, as far as I am concerned, he did deny to me that he did not sign the documents from his office which initiated the request for the $6.23 million and led to the release of the amount to a person who claimed to be a staff member of his office.”
Posthumous Prosecution Not Supported by Law
Obazee's call for posthumous prosecution of Buhari is not supported by Nigeria's legal framework. However, the law allows authorities to go after assets proved to be proceeds of crimes of any deceased person, and a court can order forfeiture of such assets. No evidence has linked Buhari, who died in July 2025 at a London hospital aged 82, to proceeds of the $6.23 million fraud.
Testifying as the fourth prosecution witness in February 2024, Mustapha maintained that neither Buhari nor he knew anything about the theft. He said Buhari did not issue any approval for the withdrawal, and the letter purportedly issued by him was fake.
Cross-Examination and Adjournment
During cross-examination, Emefiele's lawyer, Mathew Burka (SAN), Obazee said no funds were recovered from Emefiele. However, he said Emefiele should have been aware of the alleged loot “if the CCTV and BVN portal in the Abuja branch office of the CBN had been put to use before the money was released to looters.” Similarly, the missing funds should have been detected in “the annual financial statement of the CBN if all those in charge had been diligent.”
Obazee also reaffirmed testimony by Elohor Okpoziakpo, another investigator, who said both Buhari and Mustapha were not aware of the letter directing the release of $6.23 million. Obazee disclosed that Maishanu returned $850,000 from the sum, and asked that the Manager of the Abuja branch of the CBN be prosecuted for not following due diligence. The trial judge, Hamza Muazu, adjourned until 20 October.
