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
Business
Fuel price hike: Gov Makinde announces N10,000 transport support for workers
The governor of Oyo state, Seyi Makinde, has approved a N10,000 transportation allowance as a palliative for the state workforce to cushion the effects of the increase in the pump price of Premium Motor Spirit, otherwise known as petrol.
The Chairman of the Nigeria Labour Congress (NLC), Oyo State chapter, Kayode Martins, in a statement released on Monday, March 23, disclosed that the governor has granted the request of the union on the issue of transportation allowance.
The statement read
“Following the intervention and formal request made by the State Council of the Nigeria Labour Congress (NLC) earlier this morning, the state government has approved a N10,000 transportation allowance for all workers in the state.
The newly approved allowance is set to take effect from April 2026, providing much-needed relief to workers grappling with rising transportation costs amid current economic challenges.
This development comes as a direct response to sustained advocacy by the state NLC, aimed at cushioning the impact of increased living expenses on the workforce.
Further details on implementation are expected to be communicated by the relevant government authorities in due course.”
News
Former Acting Accountant-General of the Federation bags 72years imprisonment for diverting N868.46 million security funds
Justice James Omotosho of the Federal High Court in Abuja, on Monday, March 23, convicted and sentenced Chukwunyere Nwabuoku, former acting Accountant-General of the Federation (AGoF), to a 72-year jail term without an option of fine.
DailyTrust reports that in the judgment delivered, Justice Omotosho held that the Economic and Financial Crimes Commission (EFCC) had been able to prove the nine-count money laundering charge beyond reasonable doubt.
According to the judge, the defendant is hereby convicted as charged.
Justice Omotosho convicted Nwabuoku in all the nine counts and sentenced him to eight years imprisonment in each of the counts, making 72 years.
The judge, however, ordered that the counts shall run concurrently.
Justice Omotosho, who described Nwabuoku’s act of diverting funds meant for security and defence while he served as Director of Finance and Account in the Ministry of Defence as “appalling,” commended the EFCC for being detailed in its prosecution.
The judge observed that the evidence of the 9th prosecution witness that Nwabuoku voluntarily refunded part of the siphoned money of over N200 million during investigation was not controverted by the defence.
Nwabuoku served as the Director of Finance and Accounts in the Ministry of Defence between 2019 and 2021. He became acting Accountant General of the Federation in May 2022.
News
11 more arrested over Ozoro “r@ping festival”
The police in Delta state have arrested eleven more suspects over the sexu@l ass@ults recorded during what was described as a “r@ping festival” in Oramudu Quarters in Ozoro last Thursday, March 19.
In a statement released on Saturday, March 21, the spokesperson of the command, SP Bright Edafe, said the CP Special Assignment Team (CP-SAT) was tasked with conducting a detailed investigation into the incident.
Edafe said operatives of CP-SAT conducted a thorough analysis of available video evidence and intelligence, leading to the arrest of eleven additional suspects identified as Samson Atukpodo, Steven ovie, Ugbevo Samson, Afoke Akporobaro, Evidence Oguname, and six others. Edafe mentioned that these latest arrests bring the total number of suspects currently in police custody in connection with the incident to fifteen (15)
“The Command reiterates that preliminary findings indicate that the unfortunate incident was perpetrated by criminal elements who exploited the situation to engage in acts of sexu@l v!olence, which are in no way representative of any legitimate cultural practice.
The Commissioner of Police, Delta State Command, CP Aina Adesola, condemns these acts in totality and reassures the public that the Command remains resolute in its determination to ensure that all those involved are identified, arrested, and prosecuted in accordance with the law. Members of the public, particularly victims and witnesses, are once again encouraged to come forward with credible information that will aid ongoing investigations. The Command assures that all information provided will be treated with strict confidentiality.”the statement in part reads
-
Business1 year ago
US court acquits Air Peace boss, slams Mayfield $4000 fine
-
Trending1 year agoNYA demands release of ‘abducted’ Imo chairman, preaches good governance
-
Politics1 year agoMexico’s new president causes concern just weeks before the US elections
-
Politics1 year agoPutin invites 20 world leaders
-
Politics1 year agoRussia bans imports of agro-products from Kazakhstan after refusal to join BRICS
-
Entertainment1 year ago
Bobrisky falls ill in police custody, rushed to hospital
-
Entertainment1 year ago
Bobrisky transferred from Immigration to FCID, spends night behind bars
-
Education2 years ago
GOVERNOR FUBARA APPOINTS COUNCIL MEMBERS FOR KEN SARO-WIWA POLYTECHNIC BORI
