EFCC Recovers Humongous Looted Funds From Sadiya Umar-Farouk, Betta Edu, Halima Shehu

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The Economic and Financial Crimes Commission (EFCC), is believed to have recovered over N30billionn from the N37,170, 855,753.44 allegedly laundered in the Federal Ministry of Humanitarian Affairs under former minister, Sadiya Umar-Farouk.

This was as it gathered the anti-graft agency also uncovered over N500m from the alleged fraud linked to Sadiya Umar-Farouk’s successor, Dr Betta Edu, who was suspended from office by President Bola Tinubu.

The sum of N37,170,855,753.44 was transferred from the Federal Government coffers and moved to 38 different bank accounts which were domiciled in five legacy commercial banks belonging to or connected with a contractor, James Okwete.
Sources close to the EFCC revealed that N30bn was recovered by the commission following the placement of a lien on the bank accounts of Sadiya Umar-Farouq and Okwete, who are still undergoing interrogation with the anti-graft agency.

This was just as it gathered that the EFCC was also maintaining its tempo of grilling of Betta Edu in connection with an alleged N17bn fraud, while the suspended Coordinator of the National Social Investment Programme, Halima Shehu, is also being questioned over an alleged N44bn fraud.
In all, it was gathered that the EFCC has so far recovered over N30bn from the laundered N37.1bn that was linked to the former president Muhammadu Buhari’s minister, Sadiya Umar-Farouq after liens were placed on the bank accounts of the former minister and the contractor, Mr Okwete, who was linked to the fraud under investigation.

Another senior EFCC investigator revealed that the commission has uncovered another N17bn money laundering from the Federal Ministry of Humanitarian Affairs, allegedly linked to suspended minister, Betta Edu, out of which N500 million has so far been recovered while the suspended minister is still undergoing interrogation.

In a related development, the EFCC has said that it recovered N70,556,658,370.5 between October 2023 and January 19, 2024 as contained its document titled, ‘Operations and Recoveries’.

The document which gave a breakdown of the recoveries indicated that the commission made recoveries in tranches of N60,969,047,634.25, $10,522,778.57, £150,002.10 and €4,119.90, thereby bring the cumulative total to N70,556,658,370.5.

The EFCC document also stated that the agency received a total of 3,325 petitions, accepted 2,657 of the petitions, and secured the conviction of 747 persons for financial crimes ranging from money laundering to Internet fraud during the period under review.

A breakdown of the recovered monies indicated that the EFCC headquarters recovered N49,607,391,330.44, $3,900,200.75, £2,000, and £110 while the Maiduguri Zonal Command recovered N58,065,870 and $3,370; just as the Gombe Command recovered N127,323,028.50 and $1,500.

Similarly, the Kano Command recovered N141,944,451 and $365 while the Makurdi Command recovered N53,228, 325; Enugu Command, N202,117,000; and $1,950; Uyo Command, N25,299,950 and $710; and Port Harcourt Command, N2,412,247,210.05 and $5,714,389.21.

The recoveries also showed that Sokoto Command recovered the sum of N100,696,118.72; Kaduna Command, N331,494,710.81, $912, £50, and €1,610; Ilorin Command, N80,280,580.86 and $880; Abuja Zonal Command, N825,928,463 and $10,000; and Ibadan Zonal Command, N135,519,810, $14517, £280, and €500. The Lagos Zonal Command was said to have recovered N6,826,993,798.78, $868,284.61, £147,672.10, and €1,899.90, while the Benin Zonal Command recovered n49,515,987.09 and $5,700.
Meanwhile, Chairman of the EFCC, Mr Ola Olukoyede, has said that the Commission has deepened its probe into money laundering cases involving some high-profile public officials, especially former governors and ministers indicted for fraud.
…Sourced from Dailylight Reporters

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