Court Adjourns $6.2m Fraud Case Against CBN Staff to November 2025
The Federal High Court in Abuja has adjourned the arraignment of three Central Bank of Nigeria (CBN) staff accused of fraudulently obtaining $6.2 million from the apex bank to November 3, 2025. The adjournment followed the Federal Government’s inability to produce the accused persons, who are currently at large, for trial.
The defendants—Odoh Ocheme, Adamu Abubakar, and Imam Abubakar—are alleged to have withdrawn the $6.2 million from the CBN using forged documents purportedly from the Presidency and the Office of the Secretary to the Government of the Federation (OSGF). The funds were reportedly claimed to be for settling foreign election observers.
Failed Attempt to Produce Defendants
The case, presided over by Justice Inyang Ekwo, was initially scheduled for arraignment on Thursday. However, the Federal Government’s counsel, Celestine Odoh, informed the court that the three accused persons had fled the country and were yet to be apprehended. Odoh revealed that the International Police (INTERPOL) had been engaged to track and arrest the defendants, but efforts had so far been unsuccessful.
“The three accused persons said to have run out of the country have not been arrested. INTERPOL has been involved in the effort to apprehend them, but the results have not been positive,” Odoh stated. He pleaded with the court to grant more time to enable the government to intensify its efforts to bring the defendants to trial.
Court Grants Adjournment
Justice Ekwo, recalling that a warrant of arrest had been issued against the accused persons a year ago, granted the request for an adjournment. The case was subsequently rescheduled for November 3, 2025, to allow the Federal Government more time to secure the defendants’ presence in court.
Details of the Alleged Fraud
The Economic and Financial Crimes Commission (EFCC) had earlier filed charges against the defendants, alleging that they conspired to fraudulently obtain $6.2 million from the CBN on February 8, 2023. The funds were purportedly requested by the then Secretary to the Government of the Federation, Boss Mustapha, through a forged letter dated January 26, 2023, with reference number SGF.43/L.01/.
The EFCC accused the defendants of using the forged document to deceive the CBN into releasing the funds under the guise of settling international election observers. Following their escape from Nigeria, the Office of the Special Investigator of the CBN, led by Jim Obazee, sought INTERPOL’s assistance to track and repatriate the accused persons.
INTERPOL’s Involvement
In a letter dated January 18, 2025, the Office of the Special Investigator requested INTERPOL to place the three defendants on its “red notice” list, which would facilitate their arrest and extradition to Nigeria. The letter, signed by Eloho Okpoziakpo, head of operations, identified the accused persons as Adamu Abubakar, Imam Abubakar, and Odoh Ochene.
The Special Investigator had earlier obtained a warrant of arrest for the three men through a motion ex-parte filed at the Federal High Court. Despite these efforts, the defendants remain at large, complicating the legal proceedings.
Implications of the Case
The $6.2 million fraud case highlights the challenges of prosecuting high-profile financial crimes in Nigeria, particularly when suspects flee the country. The involvement of INTERPOL underscores the seriousness of the allegations and the government’s determination to bring the accused persons to justice.
The case also raises questions about internal controls and oversight mechanisms within the CBN, as the alleged fraud involved the use of forged documents to access substantial funds. The outcome of the trial will have significant implications for accountability and transparency in Nigeria’s financial institutions.
As the case adjourns to November 2025, the Federal Government faces the daunting task of apprehending the accused persons and ensuring their presence in court. The delay in prosecution underscores the complexities of cross-border financial crimes and the need for robust international cooperation in tackling such cases.
The $6.2 million fraud case serves as a reminder of the importance of strengthening Nigeria’s anti-corruption frameworks and ensuring that individuals who exploit public institutions for personal gain are held accountable. The world will be watching as the case unfolds, with hopes that justice will be served and lessons learned to prevent similar incidents in the future.
