EFCC has threatened to probe Bank Managing Directors over COVID Funds and World Bank loan fraud.
Truetells Nigeria reports that the Economic and Financial Crimes Commission (EFFC) said it has redoubled its investigation into the culpability of bank Chief Executive Officers, CEOs, in the mismanagement of COVID-19 funds and World Bank loans.
This is contained in a statement by its spokesman, Dele Oyewale, on Sunday in Abuja.
The statement said that also under probe is the alleged mismanagement of recovered Abacha loot given to the Ministry of Humanitarian Affairs, Disaster Management and Social Development for disbursement to beneficiaries of the Federal Government support-for-the-poor programme.
The EFCC also announced that it had recovered N32.7 billion and $445,000 so far from top officials of the ministry under its searchlight, adding that the abuse of naira has become a priority investigation of the agency.
Shedding light on the probe of malfeasance in the Humanitarian Affairs, Disaster Management and Social Development ministry, the agency said: “At the outset of investigations, past and suspended officials of the Humanitarian 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, the World Bank loan, Abacha recovered loot released to the Ministry by the Federal Government to execute its poverty alleviation mandate.”
“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.”
Truetells Nigeria recalls that on Wednesday, Betta Edu, suspended minister of humanitarian affairs, said she has no link with the N30 billion purportedly recovered by the EFCC.
On January 8, President Bola Tinubu suspended Edu and directed the EFCC “to conduct a thorough investigation into all aspects of the financial transaction” involving her ministry.
