A Zenith Bank official narrated to the FCT High Court in Maitama, Abuja, on Tuesday, how due process was waived for deposits and disbursements of billions of naira on behalf of former Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
Richard Agulu, the third prosecution witness brought by the Economic and Financial Crimes Commission (EFCC), identified another staff member of Zenith Bank, Macaulay Ihekoronya, a former head of operations, as one of those who granted the controversial waivers.
Mr Agulu said his superiors, including Mr Ihekoronya, gave waivers at various times for the transactions.
The witness also said he personally took such decision in certain situations, prompting the defence team to wonder at some point during Tuesday’s proceedings why he was not on trial for possible breach of banking procedures.
The witness said some of the transactions involved moving funds between accounts within the bank, based on Mr Emefiele’s instructions, and lodgements outside normal banking hours.
