A witness for the Economic and Financial Crimes Commission (EFCC) has alleged that former Anambra State Governor, Willie Obiano, siphoned over ₦4 billion in security funds through three unlicensed companies while in office.
The revelation was made on Monday at the Federal High Court in Abuja, where Obiano is currently facing nine counts of financial fraud.
According to the EFCC, the former governor, who led Anambra State from 2014 to 2022, funneled the funds between April 2017 and March 2022 through firms that had no legal business ties with the state government. The funds were allegedly converted into dollars and handed over to Obiano in cash.
The ex-governor, however, pleaded not guilty when he was arraigned in January 2024.
CBN Official Testifies Against Obiano
During Monday’s proceedings, Andrew Ali, a Central Bank of Nigeria (CBN) official and head of the licensing office, testified as the EFCC’s third witness. He revealed that three out of 23 companies linked to the alleged fraud were not licensed to operate as Bureau de Change (BDC) firms.
“Out of 23 companies investigated, three were not registered with the CBN,” Ali told the court.
The unlicensed companies were identified as:
Connaught International Services SY Panda Enterprise Zirga Zirga Trading Company
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 when Obiano assumed office.
The court admitted into evidence an eight-page letter from the EFCC and the CBN’s response, marked as Exhibit A1–A8.
How the Funds Were Allegedly Moved
The EFCC claimed that Obiano’s Chief Protocol Officer and Deputy Chief of Staff, Uzuegbuna Okagbue, facilitated multiple transfers from the state’s security vote account to the unlicensed firms.
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).
Following the testimonies, Justice Inyang Ekwo adjourned the case to February 26, 2025, for continued trial.
Stay tuned for more updates.