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    Resident doctors threaten nationwide strike; give FG 10-day ultimatum

    Resident doctors threaten nationwide strike; give FG 10-day ultimatum

    Nigeria will implement all bilateral agreements, Tinubu assured Colombia

    Nigeria will implement all bilateral agreements, Tinubu assured Colombia

    Police vow to arrest killers of food vendor accused of blasphemy in Niger state

    Police vow to arrest killers of food vendor accused of blasphemy in Niger state

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    Nigeria, Philippines trade volume surges 370% in 2024

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    Resident doctors threaten nationwide strike; give FG 10-day ultimatum

    Resident doctors threaten nationwide strike; give FG 10-day ultimatum

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    Nigeria will implement all bilateral agreements, Tinubu assured Colombia

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    Police vow to arrest killers of food vendor accused of blasphemy in Niger state

    Nigeria, Philippines trade volume surges 370% in 2024

    Nigeria, Philippines trade volume surges 370% in 2024

    Stock market loses N363bn on sustained profit-taking

    Stock market loses N363bn on sustained profit-taking

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    New AfDB president to prioritise reforms, partnerships, youths in 100 days

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    World Championship: Team Nigeria Athletes complete Gene Test

    Yusuf Alli gives reasons why 15 athletes will represent Nigeria at Tokyo 2025 World Championships

    Yusuf Alli gives reasons why 15 athletes will represent Nigeria at Tokyo 2025 World Championships

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    South Africa coach condemns Toyota Stadium in Bloemfontein for World Cup qualifier  against Super Eagles

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    Super Eagles kick off Uyo Camp ahead of 2026 World Cup qualifier against Rwanda

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EFCC recovers N30bn from humanitarian ministry’s looted funds

Ademola Damilola by Ademola Damilola
February 4, 2024
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EFCC recovers N30bn from humanitarian ministry’s looted funds
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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’.

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