April 15, 2024

Economic and Financial Crimes Commission (EFCC) says the ongoing probe of the Humanitarian Ministry has yielded the recovery of N32.7billion and $445,000 so far.

Spokesperson of the agency, Dele Oyewale said in a statement that the probe, ordered by the president, had uncovered a “system and intricate web of fraudulent practices”.

“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.

So far, 32.7 billion naira ($28.43 million) and $445,000 had been recovered during the investigation into the activities of past and suspended ministry officials, he said.

“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 EFCC noted that 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.