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<p>A witness for the<strong> Economic and Financial Crimes Commission (EFCC)</strong> has alleged that former Anambra State Governor, <strong>Willie Obiano,</strong> siphoned over â¦4 billion in state security funds through three unlicensed companies while in office.</p>
<p>According to reports,<strong> the revelation emerged on Monday at the Federal High Court, Abuja, where Obiano is facing nine counts of financial fraud. </strong></p>
<p>The former governor, who led Anambra State from 2014 to 2022, is accused of diverting funds between April 2017 and March 2022 through firms that had no official business ties with the state government. The EFCC claims the funds were converted into dollars and handed over to Obiano in cash.</p>
<p>The ex-governor, however, pleaded not guilty when he was arraigned in January 2024.</p>
<p>During Monday’s proceedings, the EFCC’s third witness, Andrew Ali, a Central Bank of Nigeria (CBN) official and head of the licensing office, testified that three out of 23 companies linked to the alleged fraud were not legally licensed to operate as Bureau de Change (BDC) firms.</p>
<p><em>“Out of 23 companies investigated, three were not registered with the CBN,”</em> Ali told the court.</p>
<p data-start="1359" data-end="1411">The three unlicensed companies were identified as:</p>
<ul data-start="1412" data-end="1516">
<li data-start="1412" data-end="1452">Connaught International Services</li>
<li data-start="1453" data-end="1480">SY Panda Enterprise</li>
<li data-start="1481" data-end="1516">Zirga Zirga Trading Company</li>
</ul>
<p>Ali further explained that Zirga Zirga Trading Company had been delisted by the CBN before 2014, meaning it was no longer legally recognized as a financial operator by the time Obiano assumed office.</p>
<p><em>“Once a company fails to meet requirements, it is delisted.</em><br /><em>We issue public notices warning against dealing with unlicensed firms, and this information is available on our website,”</em> he added.</p>
<p>The court admitted into evidence an eight-page letter from the EFCC and the CBN’s response, marked as Exhibit A1–A8.</p>
<p>The EFCC alleged that Obiano funneled the funds through his Chief Protocol Officer and Deputy Chief of Staff, Uzuegbuna Okagbue, who facilitated multiple transfers from the state’s security vote account to the unlicensed firms.</p>
<p>During cross-examination, defence counsel Onyechi Ikpeazu (SAN) questioned Ali on CBN regulations regarding delisted companies. Ali reiterated that once a firm loses its license, the CBN no longer regulates its activities, citing Sections 15 and 19 of the CBN Revised Operational Guidelines (2015).</p>
<p><em>“BDCs are required to operate official accounts, and they are not permitted to conduct business without them,”</em> Ali clarified.</p>
<p>Following the testimonies, Justice Inyang Ekwo adjourned the case to February 26, 2025, for continued trial.</p>
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<p><a href="https://www.gistreel.com/efcc-witness-exposes-obianos-alleged-%E2%82%A63-6-billion-diversion-scheme/" previewlistener="true">Source link </a></p>

