ALLEGED $4.5BN FRAUD: COURT ADMITS CO-DEFENDANT’S STATEMENT IN EMEFIELE’S TRIAL. (PHOTO). #PRESS RELEASE

 Alleged $4.5bn Fraud: Court Admits Co-Defendant’s Statement in Emefiele’s Trial

Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Monday, May 4, 2026, ruled that the extrajudicial statement made by Henry Omoile, co-defendant to the erstwhile Central Bank of Nigeria (CBN) Governor Godwin Emefiele, is admissible in court.

Omoile had challenged the admissibility of his statements to the Economic and Financial Crimes Commission (EFCC), alleging that it was obtained under oppression and inducement.

This led to a “Trial-within-Trial” to determine the voluntariness or otherwise of the statement.

Omoile is currently facing a three-count charge bordering on unlawful acceptance of gifts as an agent, while Emefiele is standing trial on a 19-count charge filed by the EFCC, bordering on alleged gratification and corrupt demands during his tenure as CBN Governor. 

Both defendants pleaded not guilty to all charges.

At Monday's hearing, C.C. Okezie appearing for the prosecution while Labi Lawal, SAN, appearing for both first and second defendants 

In his ruling, Justice Oshodi held that the prosecution had successfully proven that the statements obtained on  February 26, 2024 were made voluntarily and not under any form of inducement, threat, or coercion.

“I have carefully considered the evidence presented during the mini trial. The environment was active, and there is no evidence that the second defendant was physically harmed. I am satisfied that the prosecution has proven beyond reasonable doubt that the statement was made voluntarily,” the judge stated.

The court further ruled that the statements made on February 26, 2024, marked as Exhibits 1–3, were not obtained under duress and were therefore admissible as evidence.

Following the ruling, Justice Oshodi adjourned the case to June 26, June 30, and July 6 and 8, 2026, for continuation of trial.