Nigeria: EFCC uncovers fraud in COVID-19 funds, world bank loan, Abacha loot, others
The Economic and Financial Crimes Commission (EFCC) in Nigeria has revealed a labyrinth of fraudulent activities entangling COVID-19 funds, a World Bank loan, and recovered funds from the late dictator, Sani Abacha.
According to a statement released on Sunday by the EFCC’s Head of Media & Publicity, Dele Oyewale, the funds in question were allocated to the Ministry of Humanitarian Affairs, Disaster Management, and Social Development by the Federal Government to address poverty alleviation initiatives.
Oyewale elucidated that a discreet investigation by the EFCC into alleged financial misappropriation within the ministry unveiled a network of fraudulent dealings.
“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,” stated Oyewale.
Moreover, the statement highlighted that the investigation had implicated several officials of the Ministry who were either indicted or suspended due to their alleged involvement in financial malpractice.
Responding to inquiries regarding the investigation, the EFCC spokesperson told Sahara Reporters that the probe was not targeting individuals but aimed at uncovering systemic corruption.
He further elaborated, “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.”
Additionally, he stressed that the EFCC’s focus extended beyond individuals, with investigations delving into the intricate web of fraudulent practices, including the involvement of implicated banks.
“Managing Directors of the indicted banks have made useful statements to investigators digging into the infractions,” revealed the spokesperson, indicating a comprehensive approach to the investigation.
The statement concluded with an assurance that those found guilty would be prosecuted accordingly.
