Banks helped ministry officials loot funds recovered from Abacha, COVID-19 – EFCC
Tamarauemi Ebimini
The Economic and Financial Crimes Commission (EFCC) has alleged that banks helped ministry officials loot COVID-19 funds and loots recovered from late military ruler General Sani Abacha funds.
This follows the recovery of N32.7 billion and $445,000 in EFCC’s ongoing investigation into alleged financial misappropriation at the Ministry of Humanitarian Affairs, Disaster Management and Social Development.
EFCC, in a statement on Sunday by its spokesperson, Dele Oyewale, disclosed that the investigation goes beyond individuals and focuses on “a system and intricate web of fraudulent practices.”
“It is instructive to stress that the Commission’s investigations are not about individuals,” EFCC said.
“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.”
EFCC said the recovered funds were obtained by questioning past and suspended ministry officials of the Humanitarian Ministry who were invited by the commission.
“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 N32.7 billion and $445,000 so far,” it added.
It also noted that the discreet investigations by the agency have also opened other fraudulent dealings involving COVID-19 funds, the World Bank loan, and 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 anti-graft agency noted that it cleared anyone allegedly involved in the fraud and those found wanting will be prosecuted accordingly.
It, however, urged the public to ignore any claim to the contrary, stating that investigations are ongoing and advancing steadily.
