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EFCC witness exposes how Obiano used unlicensed companies in N4bn fraud
EFCC witness exposes how Obiano used unlicensed companies in N4bn fraud
The trial of former Anambra State Governor, Willie Obiano, resumed on Monday, before Justice Inyang Ekwo of the Federal High Court, Abuja, with the Economic and Financial Crimes Commission (EFCC) presenting its ninth witness.
Obiano is facing nine counts of embezzlement and money laundering amounting to N4 billion, as brought against him by the EFCC.
During Monday’s proceedings, the prosecution called its ninth witness, Andrew Ali, a staff member of the Central Bank of Nigeria (CBN) and Head of the Licensing Office.
Ali testified that three of the 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 EFCC counsel, Sylvanus Tahir, SAN, Ali identified Connaught International Service, SY Panda Enterprise, and Zirga Zirga Trading Company as unlicensed entities.
He further noted that Zirga Zirga had been delisted from the CBN’s register before 2014.
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“Sometime around April 2023, we received two letters from the EFCC regarding 23 financial institutions to determine if they were licensed. I recall forwarding the letters to the desk officer, who confirmed that we had received similar inquiries in the past. We responded comprehensively to the EFCC in a letter dated May 21, 2023, stating that out of the 23 companies, three were not registered,” Ali said.
The court admitted the EFCC’s eight-page letter and the CBN’s response as evidence, 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 you do not meet the requirements, you are delisted. It is public knowledge that we only supervise licensed entities. If a company is not on our list, we lose the power to oversee its operations. We regularly issue public notices to warn against dealings with unlicensed companies, and this information is available on our website,” he said.
He added, “It is clearly stated in Sections 15 and 19 of the CBN Revised Operational Guidelines 2015. Our role is to regulate and supervise. If a company fails to meet the requirements for license renewal, it is delisted, and the information is published on our website. BDCs also have operational accounts for transactions, and they are not permitted to operate without them.”
Justice Ekwo adjourned the trial to February 26, 2025, for continuation.
EFCC witness exposes how Obiano used unlicensed companies in N4bn fraud
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Senate Bill Requiring Social Media Offices in Nigeria Gains Stakeholder Support at Public Hearing
Senate Bill Requiring Social Media Offices in Nigeria Gains Stakeholder Support at Public Hearing
The Nigerian Senate’s legislative push to compel social media platforms operating in the country to establish physical offices received significant acceleration on Thursday, as the majority of stakeholders at a public hearing endorsed the proposal, while also backing a separate bill for the establishment of an Artificial Intelligence Academy in Ekiti State.
The public hearing, organised by the Senate Committee on ICT and Cyber Security at the National Assembly in Abuja, provided a platform for robust debate on two landmark bills that seek to position Nigeria as a competitive player in the global digital economy. The first bill, sponsored by Senator Ned Nwoko (APC, Delta North), is titled: “A Bill for an Act to Alter the Nigeria Data Protection Act 2023 to Mandate the Establishment of Physical Offices within the Territorial Boundaries of the Federal Republic of Nigeria by Social Media Platforms and for other related matters”. The second bill, sponsored by Senator Yemi Adaramodu (Ekiti South), seeks to establish an Artificial Intelligence Academy in Omuo-Ekiti, Ekiti State, to serve as a centre of excellence for AI education, research and innovation.
In his opening address, the Chairman of the Senate Committee on ICT and Cyber Security, Senator Shuaib Afolabi Salisu (Ogun Central), explained that while the social media bill was designed to strengthen Nigeria’s digital ecosystem and improve regulatory engagement with global technology companies, the AI Academy bill seeks to provide a hub for artificial intelligence research and development. The President of the Senate, Godswill Akpabio, who was represented by the Deputy Senate Leader, Senator Lola Ashiru (Kwara South), described the two bills as forward-looking and nationally significant legislative proposals that reflect the Senate’s enduring commitment to improved lawmaking and good governance. He specifically declared that the bill seeking to mandate social media platforms to establish physical offices is not intended to stifle innovation but to enhance accountability and their contribution to the country’s economy.
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Senator Nwoko, in his submissions at the public hearing, offered strong assurances that the bill is neither punitive nor hostile to innovation. “This bill is neither punitive nor hostile to innovation. It is not designed to frustrate investment or discourage technology companies from operating in Nigeria. On the contrary, it seeks to deepen their engagement with Nigeria by encouraging them to become true corporate citizens of our country,” he stated. The lawmaker argued that requiring physical presence by operators of social media platforms is a common practice in other countries that are even smaller in size and population than Nigeria. He noted that around the world, major technology companies have established headquarters, regional offices, engineering centres and operational hubs in countries such as the United Kingdom, the Netherlands, Spain, Singapore, India, the United Arab Emirates, South Africa, Brazil, Australia and Japan. Some of these companies maintain multiple offices within the same country. For instance, Meta operates major facilities in Dublin, Cork and Clonee in Ireland, while its United Kingdom operations span King’s Cross and Brock Street in London. Google maintains multiple offices in London, Dublin, Sydney, São Paulo, Munich and Tokyo, with more than one campus in several of those cities. These offices perform diverse functions ranging from engineering and artificial intelligence research to legal and regulatory compliance, public policy, advertising, trust and safety, cloud services, sales, customer support and product development. Nwoko noted that these countries did not attract such investments by accident, but recognised early that the digital economy is now as important as the traditional economy. By encouraging global technology companies to establish local operations, they have created employment, expanded tax revenues, strengthened regulatory engagement, promoted innovation and encouraged technology transfer to their citizens.
The lawmaker pointed to Ireland as an example, noting that the presence of companies including Meta, Google, LinkedIn, TikTok and X had transformed the country into one of Europe’s leading technology hubs. These companies employ thousands of professionals, contribute substantially to the Irish economy and work directly with regulators and government institutions. The presence of these companies has also helped develop local technology talent, stimulate innovation and attract further foreign investment. “The question therefore is simple: if countries with significantly smaller populations and digital markets than Nigeria have secured these investments and benefits, why should Nigeria continue to stand on the sidelines? Why should Africa’s largest digital market not enjoy the same opportunities?” he asked.
While the proposal received overwhelming support from many stakeholders, there were also dissenting voices. The Chairman of the Practitioners of Content Creating, Influencers and Skit Makers Guild of Nigeria, Obinna Nwanfo, strongly backed the bill, stating that many social media platforms often have policies unfavourable to content creators, making it difficult to resolve complaints relating to the loss of followers and account restrictions. However, the Nigerian Bar Association (NBA) and the Nigeria Internet Registration Association (NIRA) expressed concerns. The President-elect of the NBA, Oyinkansola Badejo-Okusanya, advised the committee to amend the bill to require platforms to appoint local representatives instead of mandating physical offices, recommending that the proposed 30-day compliance timeline be extended to at least 180 days. Similarly, NIRA’s Chief Operating Officer, Seyi Onasanya, suggested that requiring physical offices alone would not be sufficient, and that the government should require platforms to host their data on Nigeria’s domain or within the country’s jurisdiction. Other organisations that participated in the public hearing included Paradigm Initiative, the Nigerian Youths of Social Media Analysts, Digital Civic, the Middle Belt Youth Congress and the Nigerian Female Youth Organisation. Meanwhile, the African Democratic Congress (ADC) has opposed the bill, describing it as an attempt by the Federal Government to silence Nigerians ahead of the 2027 general election. The Socio-Economic Rights and Accountability Project (SERAP) also asked the National Assembly to withdraw the bill, warning that it could lead to the exclusion or shutdown of social media platforms and violate the rights of millions of Nigerians.
The Senate Committee on ICT and Cyber Security is expected to review stakeholder submissions and make recommendations for further legislative consideration before presenting its report to the Senate. The committee’s decision will determine whether the bill proceeds to the next stage of the legislative process.
Senate Bill Requiring Social Media Offices in Nigeria Gains Stakeholder Support at Public Hearing
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Army Declares Soldier Wanted Over Alleged Sale of Military Uniforms to Terrorists
Army Declares Soldier Wanted Over Alleged Sale of Military Uniforms to Terrorists
The Nigerian Army has declared Private Mohammed Yusuf Amutu wanted for allegedly selling military uniforms to terrorists and criminal groups, raising urgent concerns about insider threats and national security vulnerabilities.
The Headquarters of the Nigerian Army Ordnance Corps (NAOC) announced the development in a statement on Thursday, July 23, 2026, signed by the Assistant Director of Army Public Relations, Major Oluwatope Dorcas Aluko. The military authorities said preliminary investigations linked Amutu to the unauthorised distribution of military uniforms before he reportedly disappeared from his duty post. According to the Army, Amutu was serving at the Nigerian Army Ordnance Kits Factory before he allegedly absconded from his unit on June 3, 2026. His disappearance triggered further investigations, which uncovered allegations connecting him to the illegal movement and supply of military uniforms to terrorists and other criminal elements. Military authorities have since declared him wanted, and intensive efforts are underway to locate and apprehend him so that he can face a full investigation and appropriate disciplinary action in accordance with existing military laws. “The Headquarters Nigerian Army Ordnance Corps has declared one of its personnel, Private Mohammed Yusuf Amutu, wanted over his alleged involvement in the illegal sale and supply of military uniforms to terrorists and other criminal elements,” the statement read.
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Emphasising its zero-tolerance policy toward misconduct, the Nigerian Army Ordnance Corps warned that any personnel found to have aided terrorists, criminals, or other non-state actors through the unauthorised sale, diversion, or distribution of military uniforms, accoutrements, or other controlled items would face the full weight of both military and civil laws. “The Nigerian Army Ordnance Corps wishes to state unequivocally that it has zero tolerance for misconduct, indiscipline, or any act capable of compromising the operational effectiveness, integrity and reputation of the Nigerian Army or threatening national security,” Aluko stated. The Corps said it is committed to accountability, professionalism, and the protection of military assets. It assured Nigerians that it would continue to strengthen internal control measures and ensure that every allegation of misconduct is thoroughly investigated, while those found culpable are held fully accountable.
Security experts say the unauthorised sale of military uniforms poses a critical security risk, as it allows terrorist groups to disguise themselves as soldiers during attacks, making it difficult for civilians to differentiate between genuine troops and impostors. The development comes barely days after the Presidency warned of the possible infiltration of security agencies by terrorists and criminal elements, raising fresh concerns over insider threats within the nation’s security architecture. Military uniforms and related items are considered controlled materials whose unauthorised distribution poses serious security risks, especially when they fall into the hands of insurgents, bandits, kidnappers, and other criminal groups. Security agencies have repeatedly expressed concerns over the use of military uniforms by criminal elements to deceive members of the public, evade security checks, and carry out attacks while impersonating security personnel.
The Corps appealed to members of the public to support ongoing efforts by providing credible information that could lead to the arrest of the wanted soldier. Anyone with useful information regarding Amutu’s whereabouts has been urged to report to the nearest military formation or any security agency for immediate action. The Nigerian Army reaffirmed its commitment to accountability, professionalism, and the protection of military assets. It reiterated that allegations of misconduct involving its personnel would not be ignored and would be subjected to transparent investigation.
Army Declares Soldier Wanted Over Alleged Sale of Military Uniforms to Terrorists
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