EFCC Summons Dangote Group Officials Over Forex Transactions Probe

EFCC Recovers N27bn, $19m, Probes ‘Monumental’ Procurement Fraud In Federal Ministries

8 months ago
1 min read

The Economic and Financial Crimes Commission (EFCC) says it has recovered N27,184,357,542 and $19,084,419 from three different money laundering cases, and is now investigating “monumental” procurement fraud involving some officials of the federal Ministry of Power and Ministry of Agriculture.

Disclosing this while interacting with select journalists in Lagos, EFCC spokesman, Dele Oyewale assured that the Commission would soon make details of an ongoing probe of some former governors, ex-ministers, and other government officials public.

EFCC disclosed that it has seized several houses in Abuja, Lagos, and Cross River, believed to be proceeds of funds meant for the Mambilla and Zungeru power projects but were diverted through Bureau de change operators.

According to Oyewale, “In three different cases, the commission has recovered N27,184,357,524.52 and $19,084,419.33.

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“While ongoing recovery is being made, the commission’s works are progressing in line with our mandate as prevention initiatives, risk assessments and recovery efforts are being intensified.

“Petitions were received in respect of several public officials, some of them former governors, some former ministers, and some ministry officials, and investigations are ongoing on those petitions.

“However, details of their involvements and our investigations will soon be made public.
“Also, investigations are ongoing in respect of monumental fraud involving some officials of the federal ministry of power and agriculture — procurement fraud actually.

“Funds meant for the Mambilla and Zungeru power projects were diverted through sundry bureau de change operators.

“For now, several houses purchased with the funds are being recovered. The houses are in Abuja, Lagos and Cross River states,” he said.


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