Connect with us

News

EFCC Recovers N27,1bn, $19m Stolen Funds From Former Governors, Ministers

EFCC is also carrying out ongoing investigations into some monumental procurement fraud involving some officials…

Published

on

EFCCNG
Economic and Financial Crimes Commission (EFCC)

Economic and Financial Crimes Commission (EFCC) has recovered a combined sum of N27.1B and $19M from three different money laundering cases from former Governors and Ex- Ministers, as further efforts are being made by the anti-graft agency to recover more illicit funds.

VerseNews reports that the anti-graft agency said it would soon make public, details of its ongoing probe of some former governors, ex-ministers, and several government officials across the federation, following the receipt of several petitions.

EFCC is also carrying out ongoing investigations into some monumental procurement fraud involving some officials of the Federal Ministry of Power and the Ministry of Agriculture.

Advertisement

The spokesperson for the EFCC, Dele Oyewale, made the developments known on Wednesday while speaking on behalf of the EFCC acting Chairman, Abdukarim Chukkol, during a media interaction with select journalists in Lagos.

Oyewale said the anti-graft agency had seized several houses in the Federal Capital Territory, Lagos and Cross River states which are proceeds of funds meant for the Mambilla and Zungeru Power projects that were diverted through sundry Bureau de Change operators.

“In three different cases, the commission has recovered N27,184,357,524.52 and $19,084,419.33. While ongoing recovery is being made, the commission’s works are progressing in line with our mandate as prevention initiatives, risk assessments and recovery efforts are being intensified.

Advertisement

“Petitions were received in respect of several public officials, some of them former governors, some former ministers, and some ministry officials, and investigations are ongoing on those petitions; however, details of their involvements and our investigations will soon be made public.

“Also, investigations are ongoing in respect of monumental fraud involving some officials of the Federal Ministry of Power and Agriculture; procurement fraud actually. Funds meant for the Mambilla and Zungeru Power projects are diverted through sundry Bureau de Change operators. For now, several houses purchased with the funds are being recovered. The houses are in Abuja, Lagos and Cross River States,” Oyewale said.

Stay ahead with VerseNews. Get the latest breaking news, insightful analysis, and trending stories. Your go-to source for timely updates and unbiased reporting.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

WATCH: Nigeria Newspaper Headline Today

Apply For Latest Job Openings

Trending

IMG 20170319 WA001 1080x675 1 IMG 20170319 WA001 1080x675 1
Lifestyle2 hours ago

Most Peaceful States to Live in Nigeria, No 3 Will Surprise You

Believe it or not, there are still states that offer a calm, safe, and surprisingly peaceful environment...

via via
News2 hours ago

FG Makes Case for Nigerians Over US Tightened Visa Rules

The Federal Government noted that the new restriction imposes a disproportionate burden on Nigerian travellers, particularly students seeking academic opportunities...

boss mu boss mu
Politics8 hours ago

‘Not Tinubu’ – Boss Mustapha Reveals How Buhari Won 2015 Election

Boss Mustapha explained that the opposition parties which merged to form the APC in 2013.

gaduje gaduje
News1 day ago

BREAKING: Just Days After Resignation, Ganduje Lands Powerful FG Appointment

This surprising appointment was confirmed in a video posted on X by the minister’s Special Adviser on Digital Media, Gbenga...

AtikuVN AtikuVN
Politics1 day ago

Coalition: Atiku Finally Breaks Silence Amid Pressure to Step Down for Southern Candidate

Following the announcement of the coalition, speculations began circulating that some northern politicians ...

minimum age minimum age
Education1 day ago

BREAKING: FG Sets New Minimum Age for University Admission

The Federal Government warned that any attempt by institutions to manipulate or falsify age records...

nigerian banks nigerian banks
Business1 day ago

BREAKING: Nigerian Banks to Report Accounts With ₦5m Monthly Transactions

Nigerian Banks will now report or flag any personal or business account that processes a total of ₦5 million or...

muslims muslims
Lifestyle1 day ago

Why Muslims Bury Their Dead Within 24 Hours

Why Do Muslims Bury Their Dead So Quickly? Understanding the Faith and Tradition Behind Immediate Burial

jamb candidates jamb candidates
Education1 day ago

FULL LIST: JAMB Announces Top 10 2025 UTME Scorers

JAMB announces the top 10 candidates, along with their gender, state of origin, institution of choice, and course of choice

Nigerian International Passport Nigerian International Passport
News1 day ago

FG Launches Special Passport Office for Senior Public Officials

Olubunmi Tunji-Ojo, said the newly launched facility was established to address the challenges public officials.

Advertisement