The Economic and Financial Crimes Commission (EFFC) has intensified its investigation into the culpability of bank chief executive officers (CEOs) in the mismanagement of COVID-19 funds and World Bank loans. Also under probe is the alleged mismanagement of recovered Abacha loot given to the Humanitarian Affairs, Disaster Management and Social Development ministry for disbursement to beneficiaries of the Federal Government support-for-the-poor programme.
A statement by its spokesman Dele Oyewale, said, “EFCC has noticed the rising tide of commentaries, opinions, assumptions, and insinuations concerning its progressive investigations into the alleged financial misappropriation in the Ministry of Humanitarian Affairs, Disaster Management and Social Development. 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 N32.7 billion and $445,000 so far.” Investigations have also linked several indicted and suspended officials of the ministry to the alleged financial malfeasance.
The statement also reads, “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.” On the issue of the works of the commission against naira abuse, dollarization of the economy, and enforcement of extant laws relating to them, EFCC stated, “Increasingly, members of the public are drawing the attention of the commission to a video recording of abuse of the naira by Nigerians from all walks of life. These gestures amply demonstrate the rising consciousness of the public to the sanctity of our national currency and the need for collaborative engagement to sustain the tempo. To this end, the commission will always investigate and prosecute anyone involved in the abuse of the naira. Old videos being exhumed and flying around for the attention of the commission are noted as the commission is sensitive to the fact that its Special Task Force against Naira Abuse and dollarization of the economy commenced operations on February 7, 2024. However, going forward, new videos of such infractions will be investigated and prosecuted.” The agency said now, the commission is now investigating several celebrities involved in naira abuse.
