EFCC recovers N30bn from humanitarian ministry’s looted funds
The Economic and Financial Crimes Commission (EFCC) has made significant strides in recovering over N30.5bn from the alleged laundering of funds in the Ministry of Humanitarian Affairs linked to former ministers Sadiya Umar-Farouk and Betta Edu.
The funds, which were described as ‘taken funds’, have been the subject of thorough investigation and recovery efforts by the EFCC.
The commission placed liens on bank accounts associated with the former minister, Sadiya Umar-Farouk, and contractor James Okwete, leading to the recovery of N30bn.
Additionally, over N500m linked to Betta Edu, Umar-Farouk’s successor, has been uncovered and recovered.
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Efforts to uncover and recover funds from the alleged fraud continue, with Edu and other implicated individuals still being questioned by the EFCC.
In another development, the EFCC has reported the recovery of a total of N70,556,658,370.5 between October 2023 and January 19, 2024. The agency has also secured the conviction of 747 persons for financial crimes during the same period.
Chairman of the EFCC, Ola Olukoyede, highlighted that most of the 747 convictions were related to cybercrime offences.
As the EFCC continues its efforts to combat financial crimes, it has deepened its probe into money laundering cases involving high-profile public officials, surpassing a total amount of around N130.1bn as of January 31, 2024.
The EFCC remains committed to upholding the integrity of financial systems and holding those involved in fraudulent activities accountable.
