safety
N124.86bn withdrawn by CBN from Consolidated Fund not traced to Emefiele – EFCC witness tells court
Summary by The Lagos Editorial Desk Kayode Lawal , as published by Daily Post Nigeria
· October 7, 2026
· 1 min read
Photo: Daily Post Nigeria · view original
Story provenance No corrections
Summary created by The Lagos Editorial Desk — automated, rule-governed Byline on source page Kayode Lawal, as published by Daily Post Nigeria Original story Read at the source Source published Oct 7, 2026 Indexed here Oct 7, 2026 AI assistance Automated summary drawn from the source’s own published text Prepublication human review No — editorial rules, flagged-item review, and published samples
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Key points The Central Bank of Nigeria took out ₦124. Further information about the trial and investigation is available from the Economic and Financial Crimes Commission.
A significant amount of money was withdrawn from the federal government's account. The Central Bank of Nigeria took out ₦124.86 billion. A financial expert testified that this money was not linked to a specific individual. The withdrawal occurred during a certain administration, but the finance ministry and accountant general did not question it.
The purpose of the withdrawal is unclear, with one possible explanation being subsidies for a religious pilgrimage. However, the witness was unaware of this.
Further information about the trial and investigation is available from the Economic and Financial Crimes Commission.
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Category: safety Published: October 7, 2026 Source: Daily Post Nigeria Reading time: 1 min
Frequently asked about this story
What is this story about? A significant amount of money was withdrawn from the federal government's account. The Central Bank of Nigeria took out ₦124.86 billion. A financial expert testified that this money was not linked to…
When was this published? This article was first published on October 7, 2026 by Daily Post Nigeria and curated for The Lagos readers.
Who reported this story? This story was reported by Kayode Lawal at Daily Post Nigeria. To learn more about how The Lagos selects and reviews stories, see our editorial standards .
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