The Economic and Financial Crimes Commission (EFCC) says it has identified some banks that are complicit in the elaborate corruption perpetrated at the Ministry of Humanitarian Affairs, Disaster Management and Social Development.
The commission said it is investigating “a system and intricate web of fraudulent practices” involving banks and their managing directors, as well as “past and suspended officials of the Humanitarian Ministry”.
“Managing Directors of the indicted banks have made useful statements to investigators digging into the infractions,” the statement issued by EFCC’s Head of Media and Publicity, Dele Oyewale, stated on Sunday.
The suspended minister of the ministry, Betta Edu, and her predecessor, Sadiya Farouq, are among key serving and former officials that EFCC has interrogated with respect to the allegations.
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In January, President Bola Tinubu suspended Ms Edu from office after a leaked memo triggered controversies about suspicious financial transactions she authorised in her ministry.
PREMIUM TIMES reported the scandal including the approval of payment of hundreds of millions of naira into private accounts of civil servants.
Ms Farouq served in former President Muhammadu Buhari-led administration. EFCC in January quizzed her over allegations of corruption in the handling of N37.1 billion social intervention funds during her tenure.
EFCC also disclosed on Sunday that its investigations have “yielded the recovery of N32.7 billion and $445,000 so far.”
“Discreet investigations by the EFCC have opened other fraudulent dealings involving Covid -19 funds, the World Bank loan, Abacha recovered loot released to the Ministry by the Federal Government to execute its poverty alleviation mandate. Investigations have also linked several interdicted and suspended officials of the Ministry to the alleged financial malfeasance,” the commission’s statement said.
Read EFCC’s full statement below:
EFCC PRESS STATEMENT
Setting the Records Straight on Investigations of Humanitarian Ministry
The Economic and Financial Crimes Commission, EFCC, has noticed the rising tide of commentaries, opinions, assumptions and insinuations concerning its progressive investigations into the alleged financial misappropriation in the Ministry of Humanitarian Affairs, Disaster Management and Social Development.
At the outset of investigations, past and suspended officials of the Humanitarian Ministry were invited by the Commission and investigations into the alleged fraud involving them have yielded the recovery of N32.7billion and $445,000 so far.
Discreet investigations by the EFCC have opened other fraudulent dealings involving Covid -19 funds, the World Bank loan, Abacha recovered loot released to the Ministry by the Federal Government to execute its poverty alleviation mandate. Investigations have also linked several interdicted and suspended officials of the Ministry to the alleged financial malfeasance.
It is instructive to stress that the Commission’s investigations are not about individuals. The EFCC is investigating a system and intricate web of fraudulent practices. Banks involved in the alleged fraud are being investigated. Managing Directors of the indicted banks have made useful statements to investigators digging into the infractions. Those found wanting will be prosecuted accordingly. Additionally, the EFCC has not cleared anyone allegedly involved in the fraud. Investigations are ongoing and advancing steadily. The public is enjoined to ignore any claim to the contrary.
On the issue of the works of the Commission against Naira abuse, dollarization of the economy and the enforcement of all extant laws relating to them, the EFCC appreciates the avalanche of public awakening, support and involvement demonstrated so far. Increasingly, members of the public are drawing the attention of the Commission to video recording of abuse of the Naira by Nigerians from all walks of life. These gestures amply demonstrate rising consciousness of the public to the sanctity of our national currency and the need for collaborative engagement to sustain the tempo.
To this end, the Commission will always investigate and prosecute anyone involved in the abuse of the Naira. Old videos being exhumed and flying around for the attention of the Commission are noted as the Commission is sensitive to the fact that its Special Task Force against Naira Abuse and Dollarization of the economy commenced operations on February 7, 2024. However, going forward, new videos of such infractions will be investigated and prosecuted.
At the moment, the Commission is investigating several celebrities involved in Naira abuse. Many of them have made useful statements to the Commission and many more have been invited by investigators working on the matter. The EFCC will not relent in its no-sacred-cow mode of operations and the public should be wary of running afoul of laws against the crime.
Dele Oyewale
Head, Media & Publicity
April 14, 2024
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