Emmanuel Ochayi
The Economic and Financial Crimes Commission (EFCC) says it has successfully retrieved over N30 billion from the alleged N37.1 billion laundered within the Ministry of Humanitarian Affairs.
Former minister Sadiya Umar-Farouq and contractor James Okwete remain under intense investigation, with a lien placed on their bank accounts leading to the recovery.
An insider at the EFCC disclosed, “The commission has now recovered over N30 billion from the laundered N37.1 billion linked to former minister Sadiya Umar-Farouq. We were able to recover the money after placing liens on their bank accounts, and both the minister and the contractor are still being grilled daily.”
In a surprising twist, the agency has also uncovered an additional N17 billion money laundering scheme within the same ministry, implicating the recently suspended minister Betta Edu. The EFCC has successfully recovered over N500 million associated with this alleged fraud.
“The NSIPA coordinator, Halima Shehu, is still being grilled over the N44 billion fraud linked to her at the NSIPA; our investigators aren’t leaving any stone unturned,” added an EFCC source.
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Simultaneously, the EFCC announced a broader success, revealing a total recovery of N70.6 billion between October 2023 and January 19, 2024. The breakdown includes N60.9 billion, $10.5 million, £150,002, and €4,119.90.
The EFCC document, titled ‘Operations and Recoveries,’ detailed that the agency received 3,325 petitions, accepted 2,657, and secured convictions of 747 individuals for various financial crimes, notably cybercrimes.
The recoveries spanned across the country, with regional commands contributing significantly.
While EFCC Chairman Ola Olukoyede disclosed the convictions primarily involved cybercrime, the commission emphasized a deepened probe into money laundering cases, especially involving high-profile public officials. As of January 31, 2024, the total amount involved in these cases reached a staggering N130.1 billion.
Despite these remarkable achievements, EFCC spokesperson Dele Oyewale declined to comment on the ongoing investigations and recoveries.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
