There are indications that the recovered loots from the government of former military Head of State, late General Abacha, have been re-looted, as a result of which the anti-graft agency, the Economic and Financial Crimes Commission (EFCC) has embarked on interrogating Managing Directors of some banks.
The interrogations of the Bank chiefs are coming on the heels of the ongoing probe into alleged financial misappropriation in the Ministry of Humanitarian Affairs, Disaster Management and Social Development.
The EFCC said that the investigation showed that the banks’ MDs and officials were involved in several sharp practices.
The position of the EFCC followed reactions that have greeted the probe of the Ministry of Humanitarian Affairs, Disaster Management and Social Development.
As a precursor to the commencement of investigation, the Minister in charge of the Ministry, Betta Edu, was suspended, while her predecessor, Sadiya Umar-Farouq, and the Coordinator of the National Social Insurance Programmes Agency, Halima Shehu, were also quizzed.
In a statement by its Head of Media and Publicity, Dele Oyewale, yesterday, April 14, the anti-graft agency said that its response to the probe stemmed from 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.”
It said that at the ontset 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.
Oyewale said that discreet investigations by the EFCC have opened other fraudulent dealings involving COVID-19 funds, World Bank loan and Abacha recovered loots released to the Ministry by the Federal Government to execute its poverty alleviation mandate.
The Commission said that 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.”
