The Economic and Financial Crimes Commission (EFCC) has successfully recovered over N30 billion from the alleged laundering of N37,170,855,753.44 in the Ministry of Humanitarian Affairs during the tenure of former minister Sadiya Umar-Farouk. Insider sources within the anti-graft agency disclosed that an additional N500 million linked to a fraudulent scheme involving Umar-Farouk’s successor, Betta Edu, has also been uncovered. President Bola Tinubu recently suspended Edu.
The initial investigation revealed that the sum of N37,170,855,753.44 was illicitly transferred from government funds to 38 different bank accounts across five legacy commercial banks associated with contractor James Okwete. Subsequently, the EFCC placed a lien on the bank accounts of Umar-Farouq and Okwete, resulting in the recovery of N30 billion.
Simultaneously, Edu is being questioned regarding an alleged N17 billion fraud, with the EFCC having recovered over N500 million linked to the case. Halima Shehu, the suspended Coordinator of the National Social Investment Programme, is also under scrutiny for an alleged N44 billion fraud.
The EFCC spokesperson, Dele Oyewale, declined to comment on the ongoing investigations.
In a related development, the EFCC announced a total recovery of N70,556,658,370.5 between October 2023 and January 19, 2024. The funds included N60,969,047,634.25, $10,522,778.57, £150,002.10, and €4,119.90. During this period, the EFCC received 3,325 petitions, accepted 2,657, and secured convictions of 747 individuals for financial crimes, including money laundering and Internet fraud.
The breakdown of recoveries indicated that the EFCC headquarters recovered N49,607,391,330.44, the Lagos Zonal Command recovered N6,826,993,798.78, and other commands across the country contributed to the overall success.
Chairman of the EFCC, Ola Olukoyede, stated that the majority of the 747 convictions were related to cybercrime offences. The commission is intensifying its investigation into money laundering cases involving high-profile public officials, with the total amount involved reaching approximately N130.1 billion as of January 31, 2024, according to an EFCC document titled ‘100 Days in Office’.
