Tag: EFCC

Betta Edu: EFCC quizzes Zenith, Providus, Jaiz banks CEOs

Aminu Imam

The  Chief Executive Officers (CEOs) of Zenith, Providus, and Jaiz banks have been apprehended by the Economic and Financial Crimes Commission, (EFCC), in connection with financial misappropriation and fraud linked to disgraced Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, and her predecessor, Sadiyya Umar-Farouk. The banking executives, who have been under stealth scrutiny since the public outcry over the unscrupulous diversion of public funds into private accounts, are now in EFCC custody, multiple credible sources within the Presidency. It was gathered that the senior back executives were quizzed…

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Alleged N585m Scandal: President Tinubu wields the big stick, suspends Betta Edu

Aminu Imam

…Orders EFCC to investigate her President Bola Tinubu has suspended the Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu, from office with immediate effect. The directive, according to the statement issued by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, was in line with his avowed commitment to upholding the highest standards of integrity, transparency, and accountability in the management of the commonwealth of Nigerians. The statement said, “The President further directs the Executive Chairman of the  EFCC to conduct a thorough investigation into all…

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Alleged N37.1bn fraud: EFCC detains Buhari’s ex-humanitarian affairs minister, Sadiyya

Aminu Imam

The Economic and Financial Crimes Commission (EFCC) has detained a former Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiyya Umar-Farouq, for questioning over allegations of corruption in the handling of N37.1 billion social intervention funds during her tenure. Mrs. Umar-Farouq arrived at the headquarters of the Commission in Abuja to honour an earlier invitation over the pending case yesterday morning. She posted via her X handle at 10.17 a.m. on Monday that she had just arrived at the commission’s office. “I have, at my behest, arrived at the…

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Emefiele Investigation: 20 banks, other companies face EFCC probe over forex deals

Aminu Imam

…Inquiry to cover 9-yr period The probe instituted by the Economic and Financial Crimes Commission (EFCC) into the use of foreign exchange by some companies and financial institutions under the former governor of the Central Bank of Nigeria (CBN) Godwin Emefiele is to be spread to at least 20 banks, sources close to the commission have said. VoL was reliably informed, at the weekend, that the probe, which has seen operatives storm corporate offices of Dangote Group and some others would be extended to at least 20 commercial banks, while…

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Alleged Forex Crime: EFCC summons ?angote officials to Abuja

Aminu Imam

The Economic and Financial Crimes Commission (EFCC) has summoned ?angote Group officials to Abuja for detailed documents on forex transactions spanning nine years. EFCC operatives stormed the group’s Lagos headquarters, probing alleged forex allocation abuse under ex-CBN Governor, Godwin Emefiele. During its operation, it was gathered that the anti-graft agency took away some sensitive documents that may be helpful to its current investigation into the truth behind Emefiele’s abuse of power over forex allocation. However, not satisfied with the content of the documents confiscated, it decided to summon some of…

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EFCC freezes N30bn NSIPA funds traced to personal accounts

Aminu Imam

The Economic and Financial Crimes Commission (EFCC) has tracked N30 billion, of the N44 billion moved from the accounts of the National Social Investment Programme Agency, (NSIPA). The multiple accounts to which the funds were moved by some NSIPA officials have been frozen by the anti-graft agency as part of an ongoing probe. It was learnt that the N44 billion was suspiciously moved from NSIPA’s accounts into private and corporate accounts linked to those serving as fronts. Recall that some of the officials of the agency have been undergoing investigation.…

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EFCC operatives probe 52 companies over FX transactions with CBN

Aminu Imam

…Visits Dangote Group HQ Operatives of the Economic and Financial Crimes Commission (EFCC) yesterday conducted a search operation at the head office of the Dangote Group in Lagos as it widens investigations into the foreign exchange transactions during the tenure of former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. It was gathered that the EFCC wrote to the various companies asking for documentation on their forex transactions in the last 10 years. Details of the EFCC investigations are still sketchy, but it appears to be a blanket…

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EFCC invites Buhari minister, Umar-Farouq over alleged N37bn fraud

Aminu Imam

Days after expressing willingness to defend her actions while serving as minister of Humanitarian Affairs, Disaster Management, and Social Development, the Economic and Financial Crimes Commission (EFCC) has invited Sadiyya Umar-Farouq for questioning. The invitation os part of an ongoing investigation into the N37,170,855,753.44 allegedly laundered under her watch through a contractor, James Okwete. According to a document, Ms Umar-Farouq was asked to appear before interrogators at the EFCC headquarters, Jabi, Abuja on Wednesday, January 3, 2024, to explain the alleged fraud. The document read in part: “The commission is…

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Alleged N187bn fraud: 4 Buhari’s ministers under probe, as EFCC arrests FG’s contractor

Aminu Imam

The Economic and Financial Crimes Commission (EFC ) has arrested a contractor, James Okwete, in connection with the ongoing probe into the N37bn allegedly laundered by the Ministry of Humanitarian Affairs, Disaster Management, and Social Development under former Minister, Sadiyya Umar-Farouk. A top EFCC official, who confided to newsmen on Sunday, said the contractor had made useful statements concerning Umar-Farouk and former Directors-General of the ministry. The development coincides with the probe of three other ministers, who served under former President Muhammadu Buhari, for graft estimated at N150 billion. “It…

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EFCC uncovers N37bn fraud in humanitarian ministry, indicts Buhari’s minister, contractor

Aminu Imam

The Economic and Financial Crimes Commission (EFCC) has uncovered a total sum of N37,170,855,753.44 allegedly laundered in the Ministry of Humanitarian Affairs under former minister, Sadiyya Umar-Farouk. According to reports, details of the ongoing probe revealed that the money was transferred from the Federal Government’s coffers and sent to 38 different bank accounts domiciled in five legacy commercial banks belonging to or connected with a contractor, James Okwete. Following receipt of the funds, Okwete allegedly transferred N6,746,034,000.00 to Bureau De Change Operators, withdrew N540,000,000.00 in cash, purchased luxury cars with…

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