General
Obiano Pleads Not Guilty, Granted Bail in N4bn Fraud Case
By Adedapo Adesanya
The Economic and Financial Crimes Commission (EFCC) has charged the former Governor of Anambra State, Mr Willie Obiano, with money laundering offences involving an allegation of stealing over N4 billion from the state’s security vote account.
However, he denied the charges contained in nine counts during his arraignment before the trial judge, Justice Inyang Ekwo, of the Federal High Court in Abuja, on Wednesday.
The judge granted him bail, ordering him not to leave the country unless with the express permission of the court throughout his trial and fixed March 4 for the commencement of trial.
Mr Obiano, who was governor from March 2014 to March 2022, allegedly diverted the money from the state’s account dedicated to security funds in his last five years in office.
He was accused of directing the diversion of the total N4,006,573,350 from the state’s account between April 2017 and March 2022, and spent the money for “purposes unrelated/unconnected with the security affairs of Anambra State”.
The funds, according to EFCC, were diverted through companies “that had no business relationship with the Anambra State Government,” converted to Dollars and handed over to the former governor in cash.
The former governor allegedly stole the money over five years by instructing his Chief Protocol Officer/Deputy Chief of Staff, Mr Uzuegbuna Okagbue, to transfer on various occasions various sums of money from the state government’s security vote account with Fidelity Bank into the account of the various companies.
The case, filed through EFCC’s lead prosecuting counsel, Mr Sylvanus Tahir, a Senior Advocate of Nigeria, on January 15, detailed the nine companies allegedly used to divert the funds from the state government’s security vote account.
Each of the nine counts disclosed the amount a company received and the period it received it from the state government’s account.
The EFCC alleged in Count 1 that, from February 16, 2018, to March 9, 2018, an aggregate sum of N223,371,000 was paid from the security vote account into the account of Connought International Services Limited.
Count 2 alleged that from October 30, 2018, to November 13, 2018, a total sum of N95 million was paid from the security vote account into the bank account of S.Y. Panda Enterprises.
In Count 3, EFCC alleged from April 11, 2017, to June 21, 2019, a total of N416,000,000 was diverted from the security vote account into the account of Zirga Zirga Trading Company Limited.
In Count 4, the anti-corruption agency alleged that from February 13, 2018, to March 2, 2022, a total of N1,206,760,310 was paid into the account of Moment of Peace Ventures.
The commission similarly alleged in Count 5 that from April 5, 2018, to May 28, 2019, an aggregate sum of N860,716,200 was paid into the account of Youdooh Ventures.
Also in Count 6, EFCC alleged that from January 28, 2020, to January 15, 2021, a total sum of N659,112,900 was paid to Nazdal Ventures.
The commission alleged in Count 7 that from February 7 2018 to February 18, 2019, C.I Patty Ventures Nigeria Limited received a total sum of N156,800,000.
In Count 8, the anti-graft agency alleged that from August 9, 2017, to March 4, 2020, Easy Diamond Integrated Link received a total of N261,268,585 from the state’s security vote account.
In Count 9, the agency alleged that from October 16, 2017, to January 3, 2018, a total sum of N127,544,355 was paid from the security vote account of Anambara State Government into the account of Xpress Consult Nig. Limited.
EFCC alleged that the funds, much of which were converted to dollars and handed over to Mr Obiano in cash “were dissipated for purposes unrelated/unconnected with the security affairs of Anambra State.”
The counts detailed how the money was paid in tranches over time from the Anambra State Government Security Vote Account domiciled at Fidelity Bank into the accounts of nine companies allegedly used for the diversion.
Much of the funds they paid into the bank accounts of the companies were converted into dollars and handed over to the former governor.
It was reported that hours after Mr Obiano handed over as Anambra State Governor on 17 March 2022, EFCC had arrested him at the Murtala Muhammad International Airport, Lagos, as he was preparing to board a flight to Houston, the United States.
By Adedapo Adesanya
Nigeria’s Minister of Foreign Affairs, Mr Yusuf Tuggar, has resigned from his position, in line with the directive that government appointees seeking political offices must resign before March 31.
Business Post reports that the diplomat is eyeing a governorship ambition in Bauchi State ahead of the 2027 general elections.
Mr Tuggar’s resignation was confirmed in a statement by the ministry’s spokesperson, Mr Kimiebi Ebienfa, on Monday.
Mr Tuggar submitted his resignation letter on Monday, barely 24 hours before the deadline set by President Bola Tinubu, which directs all political appointees under his administration seeking to contest elective offices in the 2027 elections to resign before March 31.
The directive is in line with Section 88(1) of the Electoral Act, 2026, and the timetable released by the Independent National Electoral Commission for party primaries ahead of the 2027 polls.
With this development, more resignations are expected before the March 31 deadline as appointees seeking elective offices move to meet the stipulated deadline.
Earlier today, the Chairman of the Governing Board of the Federal Mortgage Bank of Nigeria (FMBN), Mr Nasiru Gawuna, formally resigned from his position to join the African Democratic Congress (ADC) with his sights on the Kano governorship ticket.
Mr Tuggar’s resignation comes amid the speculation of his interest in contesting the 2027 Bauchi State governorship election on the platform of the All Progressives Congress (APC).
The 59-year-old is a seasoned diplomat, policymaker, and political figure who was appointed as minister by President Bola Tinubu in August 2023.
Born on March 12, 1967, he has built a distinguished career spanning diplomacy, politics, energy, and strategic consulting.
He is widely regarded for his role in shaping Nigeria’s global engagement and advancing its foreign policy priorities.
By Aduragbemi Omiyale
The Lagos State government has promised to sustain its collaboration with private sector players to drive sustainable urban development, create jobs, and position Lagos as a leading hub for commerce and industry in Africa.
This assurance was given by the state governor, Mr Babajide Sanwo-Olu, at the commissioning of Irele Tower last Thursday.
The nine-storey facility is the first commercial building within the Lagos Free Zone (LFZ). It is EDGE-certified, which sets a new standard for sustainable workspace in Lekki, Nigeria’s fastest-growing economic corridor.
Irele Tower is designed to host office and retail activities in the Lekki economic corridor. It was built for efficiency with 26 per cent less energy and 46 per cent less water consumption. It is an eco-friendly building, with the design inspired by maritime architecture, reflecting its proximity to the Lekki Deep Sea Port.
Mr Sanwo-Olu described the delivery of the Irele Tower as a significant milestone in the development of the economic zone in line with the agenda of making Lagos a 21st-century economy by boosting economic growth to support the state’s developmental plans.
According to him, the facility is critical to unlocking the full potential of the Ibeju-Lekki axis of the economic zone, particularly given the presence of the Lekki Deep Sea Port and other major industrial investments within the Lagos Free Zone.
“The commissioning of Irele Tower is a clear demonstration of what can be achieved through strong collaboration between the public and private sectors. This development not only enhances the infrastructure profile of the Lagos Free Zone but also strengthens our vision of making Lagos a premier destination for investment and economic activities.
“We will continue to support initiatives that promote industrial growth, create employment opportunities, and improve the overall business environment in our state,” he said.
In her remarks, the chief executive of LFZ, Ms Adesuwa Ladoja, stated that the development reflects the zone’s commitment to creating an integrated ecosystem where businesses can thrive, supported by modern infrastructure, a strategic location, and efficient logistics.
“The commissioning of Irele Tower represents a defining milestone in our journey to build a world-class industrial and commercial hub. This development reflects our commitment to providing high-quality infrastructure that supports ease of doing business and enhances operational efficiency for our tenants.
“As the first commercial tower within the Lagos Free Zone, Irele Tower, sets a new benchmark for quality workspace in this corridor and reinforces our position as a preferred destination for investment and enterprise,” she added.
Irele Tower sits on a gross floor area of approximately 12,000 square metres. It offers modern workspaces tailored to evolving business needs. The facility also offers premium amenities, including office spaces, retail outlets, parking facilities, shared workspaces, and a rooftop cafeteria, creating a dynamic, integrated business environment.
By Adedapo Adesanya
The Chairman of the Governing Board of the Federal Mortgage Bank of Nigeria (FMBN), Mr Nasiru Gawuna, has formally resigned from his position, obeying a directive that requires office holders with political ambitions to step down before March 31, 2026.
Mr Gawuna, a former governorship candidate of the All Progressives Congress (APC) in Kano State, submitted his resignation in a letter dated March 27, 2026. In the letter, he stated that his decision takes immediate effect and is in compliance with directives issued by President Bola Tinubu.
He is expected to formally announce his move to the African Democratic Congress (ADC) on Tuesday alongside Mr Rabiu Musa Kwankwaso, a prominent political figure and former Governor of Kano, who resigned from the New Nigeria People’s Party (NNPP).
The former governor of Kano and senator rose to prominence through his grassroots-oriented Kwankwasiyya Movement, which has played a decisive role in shaping electoral outcomes in Kano. His political journey has seen him move across major parties before leading the NNPP into the 2023 general elections, where he maintained significant influence in the North-West state.
“My resignation is in strict compliance with the President’s directive requiring all political appointees to step down in accordance with the provisions of the Electoral Act,” Mr Gawuna wrote.
In his resignation letter, Mr Gawuna expressed appreciation for the opportunity to serve under the current administration, describing his tenure as both an honour and a privilege.
“I am profoundly grateful to His Excellency, President Bola Ahmed Tinubu, for the confidence reposed in me to serve. It has been a privilege to contribute to the growth and development of the Federal Mortgage Bank of Nigeria and our great country,” he stated.
He also struck a reflective tone regarding his future, adding, “I place my future in the hands of Allah (SWT) and seek His divine guidance in all my endeavours.”
Mr Gawuna assured stakeholders of a seamless transition process, noting that he would hand over responsibilities in line with established procedures.
“I remain committed to ensuring a smooth and orderly handover in accordance with all laid-down directives,” he said.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn