*Recovers Fresh $445,000, N3bn In Probe

*Alleges Nigerian Bankers Colluded With Govt Officials To Re-loot Recovered Abacha Loot

THE Economic and Financial Crimes Commission (EFCC) has denied reports that it had cleared some persons allegedly involved in financial misappropriation at the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

It added that managing directors of indicted banks have made useful statements to investigators digging into the infractions.

   In a statement by its spokesman, Dele Oyewale, tagged, ‘Setting the Records Straight on Investigations of Humanitarian Ministry,’ EFCC insisted that investigations were still ongoing and that it has so far recovered N32.7billion and $445,000 from the ministry.

Oyewale, who did not mention any names, said the clarification became necessary following insinuations that some persons had been exonerated in the course of the investigation, even as he stressed that the investigations were not targeted at any person.

He disclosed that the $445,000 and N3bn were recovered between March and April, in addition to N30billion earlier recovered before March, which the EFCC Chairman, Olu Olukoyede, referenced in an interview.

  He clarified: “The interview with the Commission’s chairman, which was recently released, was done mid-March, and as at that time, the N30billion was what had been recovered, as noted by the chairman.

“However, between that time and now, the Commission has been able to recover an extra N2.7billion and $445,000 in connection with the probe.”

The EFCC spokesman continued: “At the outset of investigations, past and suspended officials of the Ministry were invited by the Commission and investigations into the alleged fraud involving them have yielded the recovery of N32.7billion and $445,000 so far.

“Discreet investigations by the EFCC have opened other fraudulent dealings involving COVID-19 funds, World Bank loan and 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.

“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.”

The EFCC launched the probe on the directive of President Bola Tinubu following alleged financial malfeasance by former and suspended top officials of the Ministry and its agencies, especially the Social Investment Programme (SIP).

 The anti-graft agency accused commercial banks of colluding with government officials to re-loot recovered loot of the late dictator, Gen. Sani Abacha. 

In December 2017, the Federal Government signed a Memorandum of Understanding (MoU) with Switzerland on the return and monitoring of the $322million Abacha loot, proceeds of which were intended for Conditional Cash Transfer under the Social Investment Programme (SIP), which began in December 2016 under former President Muhammadu Buhari.

The looted funds were meant to provide N5,000 monthly stipends to the most vulnerable Nigerians across the country.