News
Alleged N4bn Fraud: Obiano Used Unlicensed Companies for Fraud-Witness
The trial of Willie Obiano, former governor of Anambra State, continued on Monday, February 24, 2025 before Justice Inyang Ekwo of the Federal High Court, Abuja with the Economic and Financial Crimes Commission, EFCC presenting its 9th witness.
Obiano is facing prosecution by the EFCC on nine-count charges of embezzlement and money laundering to the tune of N4 billion.
At Monday`s proceedings, the EFCC called Prosecution Witness 9, PW9, Andrew Ali, a staff of the Central Bank of Nigeria, CBN, and Head of the License office who revealed that three companies out of the 23 company accounts connected with the alleged N4 billion fraud were not duly licensed with the CBN to carry out bureau de change business.
Ali, while being led in evidence by prosecution counsel, Slyvanus Tahir, SAN, disclosed that Connaught International service, SY Panda Enterprise and Zirga Zirga Trading company were not licensed to carry out BDC business, adding that Zirga has been delisted from the CBN license list before 2014.
“Sometimes around April 2023, we receive two letters from the EFCC regarding some 23 financial institutions to know if they were licensed or not, I recall forwarding the two letters to the desk officer, who upon review, said we have received such letters in the past before so we comprehensively replied the EFCC in a letter dated May 21, 2023 and as seen in the letter of our response, out of 23 companies, three of them were not registered” he said.
The eight-page letter from the EFCC and the response were admitted in evidence and marked as exhibit A1-A8.
While being cross -examined by defence counsel, Onyechi Ikpeazu, SAN, Ali recalled that Zirga Zirga trading company did not meet the licensing requirements before 2014. “Once you do not meet the requirements, you are delisted. It is in public knowledge that we only supervise the people that are licensed, once you are not on our list, we lose the power to supervise you. We run public notice to sensitise the public not to operate with
unlicensed companies which is also on our website.
He stated further that, “it is stated clearly in section 15 and 19 of the CBN Revised
Operational Guidelines 2015. Our work is to regulate, and supervise them. Once you do not meet the requirement of renewable licensing, you will be delisted and we publish it on our valedictory list which is on our website. BDCs also have operational accounts which they do business with, they are not allowed to do business without those accounts.” he revealed.
Justice Ekwo adjourned the matter to February 26, 2025 for continuation of trial.
Visit www.efcc.gov.ng for more stories
News
𝗛𝗢𝗡. 𝗧𝗢𝗦𝗞𝗔 𝗖𝗢𝗡𝗗𝗘𝗠𝗡𝗦 𝗧𝗛𝗘 𝗞𝗜𝗟𝗟𝗜𝗡𝗚𝗦, 𝗞𝗜𝗗𝗡𝗔𝗣𝗣𝗜𝗡𝗚𝗦 𝗔𝗡𝗗 𝗥𝗔𝗣𝗘𝗦 𝗜𝗡 𝗜𝗛𝗜𝗔𝗚𝗪𝗔, 𝗢𝗕𝗜𝗕𝗜𝗘𝗭𝗘𝗡𝗔, 𝗘𝗭𝗜𝗢𝗕𝗢𝗗𝗢, 𝗘𝗠𝗘𝗔𝗕𝗜𝗔𝗠, 𝗢𝗞𝗢𝗟𝗢𝗖𝗛𝗜, 𝗨𝗠𝗨𝗚𝗨𝗠𝗔, 𝗔𝗩𝗨 𝗔𝗡𝗗 𝗢𝗧𝗛𝗘𝗥 𝗖𝗢𝗠𝗠𝗨𝗡𝗜𝗧𝗜𝗘𝗦: 𝗖𝗔𝗟𝗟𝗦 𝗙𝗢𝗥 𝗜𝗠𝗠𝗘𝗗𝗜𝗔𝗧𝗘 𝗖𝗘𝗦𝗦𝗔𝗧𝗜𝗢𝗡
Hon. Sir Tochukwu Okere(TOSKA), Member Representing Owerri Federal Constituency, has strongly condemned the incessant gruesome killings, kidnappings, rapes and violent attacks carried out by unscrupulous and criminal elements terrorizing communities within Owerri Federal Constituency, especially in Ihiagwa, Obibiezena, Eziobodo, Emeabiam, Okolochi, Umuguma, Avu and other neighbouring communities.
The recent killings of vigilante operatives and innocent constituents at Umuguma and Ihiagwa call for urgent and deterrent response by our security agencies.
In a passionate motion raised before the Federal House of Representatives, Hon. Okere called on the Federal Government of Nigeria and relevant security agencies to immediately deploy adequate security personnel to the affected communities and take decisive actions against the worsening insecurity threatening the lives and properties of his people.
According to him, the continuous attacks on harmless villagers, farmers, women and youths can no longer be tolerated under any guise.
“I urge the Federal Government of Nigeria to urgently look into this motion and act swiftly before more innocent lives are lost. Our people deserve to live and to live in peace without fear of being kidnapped, raped or butchered in their own communities,” Hon. TOSKA stressed.
The lawmaker further emphasized that the people of Owerri Federal Constituency will not fold their arms and watch criminals continue to unleash terror across Ihiagwa, Obibiezena, Eziobodo, Emebiam, Okolochi, Umuguma, Avu and other communities while families continue to mourn their loved ones daily.
This courageous move by Hon. Sir Tochukwu Okere has continued to attract commendations from constituents who describe his intervention as timely, bold and people-oriented.
Hon. Okere is the light and the voice of Owerri Federal Constituency.
May God keep him to keep standing for us and for our interest.
News
TENSIONS RISE IN OGUTA LGA AS CHAIRMAN MOVED AHEAD WITH Town UNION ELECTIONS AGAINST STATE DIRECTIVE
By Nwauwa Ikedi Justice
An emerging standoff between the Oguta Local Government Area executive and the Imo State Government has sparked concerns of unrest in several communities, after the council chairman proceeded with plans to conduct Town Union elections in defiance of a statewide directive from Governor Hope Uzodimma.
Last week, Hon. Ifeanyi Nnani, Executive Chairman of Oguta LGA, initiated steps to organize elections in five autonomous communities, an action seen by observers as a direct challenge to the governor’s order prohibiting local government chairmen from interfering in Town Union affairs.
The controversy stems from earlier complaints by traditional rulers across the state, who alleged that some local government chairmen had been imposing proxies as Town Union executives in their domains.
In response, Governor Uzodimma convened a statewide stakeholders’ meeting on January 17, 2026, at the Eze Imo Palace. Citing the Imo State Town Union Law No. 6 of 2003, as amended, the governor lifted the existing ban on Town Union elections and ruled that the process should be conducted in line with each community’s established customs. He also transferred supervisory responsibility from local government chairmen to the Ministry of Local Government and Chieftaincy Affairs, designating it the appropriate authority for such matters. The directive has since been credited with restoring relative peace across the state.
Despite this, sources indicate that Hon. Nnani’s administration has quietly begun conducting elections in villages within Oguta LGA without consulting the affected Town Unions or seeking clearance from the supervising ministry.
A letter dated last week and personally signed by the chairman to the Commissioner for Local Government and Chieftaincy Affairs has since come to light. Rather than seeking approval, the correspondence served as notification of the council’s intent to proceed with elections in Ndiuloukwu, Mgbala, Uworie, and Mgbele autonomous communities—a move that appears to contradict the state government’s directive.
The emergence of the letter has alarmed traditional rulers, with reports of growing unease in the affected communities. Community leaders have vowed to resist what they describe as an unlawful intrusion into their internal affairs.
Attempts to reach Hon. Nnani for comment have so far been unsuccessful, as calls to his office went unanswered.
Business
Fuel may hit N2000/litre. Subsidize crude feedstock now – TUC tells FG
The Trade Union of Nigeria, TUC, has raised the alarm that the price of Premium Motor Spirit aka Petrol may climb to about N2,000 per litre if urgent measures are not taken to cushion the impact of rising global crude prices and the depreciating naira.
Speaking to newsmen on Thursday, April 9, the president of the TUC, Festus Osifo, called on the Federal Government to immediately deploy 60 percent of excess crude oil revenue above the 2026 budget benchmark to subsidise crude feedstock supplies to the Dangote Refinery and other modular refineries, a move it says will slash pump prices of petrol, diesel, and jet fuel within two weeks
“Today, comrades, we are seeing that the cost of petrol is edging towards N2,000 per litre depending on the part of the country that you are. Nigerian workers are already passing through excruciating pain as we speak.
The same way it is affecting transportation, it is also affecting manufacturing. The cost of diesel has also gone northward, meaning that the cost of production has increased. When production costs rise, the final price of goods on the shelves will also skyrocket.
If this continues unchecked, the inflation that we are currently celebrating as going downwards will reverse and start moving up again,” he stated.
Osifo outlined the proposal as an urgent intervention to cushion Nigerian workers from excruciating pain caused by petrol prices edging towards ₦2,000 per litre in some parts of the country
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