The corruption trial of former Anambra State Governor, Willie Obiano, took a dramatic turn on February 24, 2025, as a key witness exposed shocking details of how unlicensed companies were allegedly used to launder billions. The Federal High Court in Abuja heard from the Economic and Financial Crimes Commission’s (EFCC) ninth witness, who linked Obiano to a staggering N4 billion embezzlement and money laundering scheme.
In a bombshell testimony, Andrew Ali, a senior official at the Central Bank of Nigeria (CBN) and Head of the Licensing Office, revealed that three of the 23 company accounts tied to the fraud were operating illegally. He identified Connaught International Service, SY Panda Enterprise, and Zirga Zirga Trading Company as unlicensed entities, with Zirga having been delisted from the CBN’s licensing list as far back as 2014.
Ali disclosed that the CBN had been contacted by the EFCC in April 2023 for verification of these companies’ status, which led to a comprehensive review. The findings confirmed that the firms were unlicensed, and this revelation was officially documented and submitted as evidence in court. The court admitted the CBN’s response to the EFCC as exhibits A1-A8, reinforcing the case against the embattled former governor.
Under cross-examination, Ali clarified that the CBN only oversees licensed Bureau de Change (BDC) operators and does not regulate entities that fail to meet licensing requirements. He stressed that public notices are routinely issued to warn against transactions with unlicensed companies, underscoring the legal and financial risks involved.
With mounting evidence stacking up against Obiano, the trial is set to continue on February 26, 2025. As the case unfolds, the former governor faces increasing scrutiny over his alleged role in a high-stakes financial scandal that could reshape the narrative of corruption in Nigeria’s political landscape.
