The Economic and Financial Crimes Commission (EFCC) has reportedly made significant strides in recovering funds that were allegedly looted from the Ministry of Humanitarian Affairs.
Over N30 billion has been successfully recovered from the total sum of N37,170,855,753.44 that was allegedly laundered during the tenure of former minister Sadiya Umar-Farouk.
According to sources within the anti-graft agency, “an additional sum of over N500 million has been uncovered in connection with fraudulent activities linked to Betta Edu, the successor of Umar-Farouk”. President Bola Tinubu has recently suspended Edu due to these allegations.
The initial report in December revealed that the N37,170,855,753.44 had been transferred from government coffers to 38 bank accounts held in five legacy commercial banks connected to James Okwete, a contractor. After placing a lien on the bank accounts of Umar-Farouk and Okwete, the EFCC successfully recovered N30 billion. Both the former minister and the contractor are currently under investigation.
In a separate case, the EFCC has uncovered an alleged N17 billion money laundering scheme within the Ministry of Humanitarian Affairs, linked to Betta Edu. So far, over N500 million has been recovered in relation to this fraud. Edu is still being questioned regarding these allegations.
Additionally, Halima Shehu, the Coordinator of the National Social Investment Programme (NSIPA), is also under investigation for her alleged involvement in a N44 billion fraud. The EFCC is diligently pursuing these cases and leaving no stone unturned.
When contacted for comments, the spokesperson for the EFCC, Dele Oyewale, declined to provide further details on the ongoing investigations and recoveries.
Furthermore, the EFCC has disclosed that it has made significant recoveries totaling N70,556,658,370.5 between October 2023 and January 19, 2024. The breakdown includes N60,969,047,634.25, $10,522,778.57, £150,002.10, and €4,119.90. The recoveries were made through various commands and zones across the country.
During this period, the EFCC received a total of 3,325 petitions, accepted 2,657 of them, and successfully convicted 747 individuals involved in financial crimes, including money laundering and cyber fraud.
The EFCC remains focused on deepening its investigations into cases of money laundering involving high-profile public officials, particularly former governors and ministers implicated in fraudulent activities. As of January 31, 2024, the total amount involved in these money laundering cases has reached approximately N130.1 billion.
These updates were obtained from an EFCC document titled “100 Days in Office,” which highlights the ongoing probes, discoveries, and recoveries made by the commission under the leadership of Chairman Ola Olukoyede during his tenureThese updates were obtained from an EFCC document titled “100 Days in Office,” which highlights the ongoing probes, discoveries, and recoveries made by the commission under the leadership of Chairman Ola Olukoyede during his tenure.