The trial of former Anambra State Governor Willie Obiano resumed on Monday, 24 February 2025, before Justice Inyang Ekwo of the Federal High Court, Abuja, with the Economic and Financial Crimes Commission (EFCC) presenting its ninth witness.
This was disclosed in a statement signed by Dele Oyewale, Head of Media and Publicity for the Commission, on Monday.
Obiano is facing prosecution by the EFCC on nine counts of embezzlement and money laundering amounting to N4 billion.
At Monday’s proceedings, the EFCC called its ninth prosecution witness (PW9), Andrew Ali, a staff member of the Central Bank of Nigeria (CBN) and Head of the Licensing Office. Ali revealed that three out of 23 company accounts linked to the alleged fraud were not duly licensed by the CBN to conduct bureau de change (BDC) operations.
While being led in evidence by prosecution counsel Sylvanus Tahir, SAN, Ali identified Connaught International Services, SY Panda Enterprise, and Zirga Zirga Trading Company as unlicensed entities, noting that Zirga Zirga Trading had been delisted from the CBN’s licensing register before 2014.
“Sometime around April 2023, we received two letters from the EFCC seeking clarification on the licensing status of 23 financial institutions. Upon review, we confirmed that three of these companies were not registered with the CBN. Our response, dated 21 May 2023, was comprehensive and made it clear that these entities were operating without proper authorisation,” he stated.
The court admitted into evidence the eight-page letter from the EFCC and the CBN’s response, marking them as exhibits A1–A8.
During cross-examination by defence counsel Onyechi Ikpeazu, SAN, Ali reiterated that Zirga Zirga Trading Company had failed to meet licensing requirements before 2014.
“Once a company does not meet the stipulated requirements, it is delisted. The public is informed that we only supervise licensed entities. If a company is not on our list, we lack the authority to regulate its activities,” he explained.
He further stated, “Sections 15 and 19 of the CBN’s Revised Operational Guidelines 2015 clearly outline these procedures. Our responsibility is to regulate and supervise. If a BDC operator fails to renew their licence, they are delisted, and we publish this on our official website. Additionally, BDCs are required to maintain operational accounts for transactions, and they are prohibited from engaging in business outside those accounts.”
Following the witness’s testimony, Justice Ekwo adjourned the matter to 26 February 2025 for the continuation of trial.
