Emefiele Trial: Witness Details Alleged Extortion by CBN Director Over $400,000

In the ongoing trial of Godwin Emefiele, former governor of the Central Bank of Nigeria (CBN), a significant revelation emerged as Victor Onyejiuwa, managing director of The Source Computers Limited, took the stand as the fourth witness.

His testimony shed light on alleged extortion involving a substantial sum of $400,000.

Onyejiuwa recounted his company’s involvement with the CBN from 2014 to 2019, providing technology support and securing multiple contracts, including one for enterprise storage and servers in 2017.

However, post-execution of the contract, he faced pressure from John Ikechukwu Ayoh, a former CBN director, regarding the release of funds.

According to Onyejiuwa’s testimony, Ayoh approached him, indicating that CBN management required a portion of the contract’s funds.

He alleged that Ayoh threatened to withhold payment approval if his demands were not met. Feeling coerced, Onyejiuwa acceded to Ayoh’s request after several discussions.

To ensure the contract’s payment, Onyejiuwa revealed that he organized the sum of $400,000 along with an additional $200,000, yielding a total of $600,000.

This payment, made within two to three weeks, facilitated the release of funds for the contract.

During his testimony, Onyejiuwa disclosed contract amounts, including a significant $1.2 billion contract, along with others valued at $2.1 million, N340,000, and N17 million.

These revelations provide insight into the alleged irregularities surrounding contract payments at the CBN.

Following Onyejiuwa’s testimony, Emefiele’s legal counsel requested an adjournment for cross-examination at the next hearing, which was granted by Justice Rahman Oshodi. The trial is set to resume on May 17.