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N30bn Clawed Back From Humanitarian Ministry’s Looted Funds – EFCC

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The Economic and Financial Crimes Commission (EFCC) has made significant strides in combating corruption by recovering a staggering N30bn from the alleged money laundering activities within the Ministry of Humanitarian Affairs.

The funds, linked to the former minister, Sadiya Umar-Farouk, were part of the N37,170,855,753.44 redirected from government coffers.

Moreover, the anti-graft agency has uncovered an additional N500m associated with Betta Edu, the successor to Umar-Farouk, who recently faced suspension by President Bola Tinubu.

These revelations shed light on a complex web of financial improprieties involving 38 bank accounts across five legacy commercial banks, all connected to the contractor James Okwete, as initially reported by BIZTELLERS.

According to report gathered, the Economic and Financial Crimes Commission (EFCC) successfully recovered N30bn after placing a lien on the bank accounts of Sadiya Umar-Farouq and contractor James Okwete.

Both individuals are currently undergoing intensive interrogation by the anti-graft agency.

Additionally, Betta Edu is still under scrutiny in relation to an alleged N17bn fraud, while the suspended Coordinator of the National Social Investment Programme, Halima Shehu, is also being questioned over an alleged N44bn fraud.

An EFCC source revealed, “The commission has now recovered over N30bn from the laundered N37.1bn that was linked to former minister Sadiya Umar-Farouq.

“We were able to recover the money after we placed liens on the bank accounts of the former minister and the contractor, Mr Okwete, who was linked to the fraud under probe. Both the minister and the contractor are still being grilled by our investigators daily.”

A senior EFCC investigator said “We have uncovered another N17bn money laundering from the Ministry of Humanitarian Affairs, and for the alleged fraud linked to the suspended minister, Betta Edu, we have so far recovered over N500m. Edu is still answering questions about the fraud.”

“The NSIPA coordinator, Halima Shehu, is still being grilled over the N44bn fraud linked to her at the NSIPA; our investigators aren’t leaving any stone unturned.”

In another update, the EFCC announced the recovery of a substantial sum amounting to N70,556,658,370.5 between October 2023 and January 19, 2024.

Exclusive details of this recovery were disclosed in an EFCC document titled ‘Operations and Recoveries,’ obtained by our correspondent.

The breakdown includes N60,969,047,634.25, $10,522,778.57, £150,002.10, and €4,119.90, highlighting a comprehensive effort in reclaiming illicit funds during this period.

Providing a comprehensive overview, the EFCC reported receiving a total of 3,325 petitions, accepting 2,657 of them.

During this period, the agency achieved the conviction of 747 individuals for various financial crimes, spanning from money laundering to Internet fraud.

Notably, the EFCC headquarters played a significant role in the overall recovery, securing N49,607,391,330.44, $3,900,200.75, £2,000, and €110.

Highlighting the extensive efforts across various commands, the Maiduguri Zonal Command recovered N58,065,870 and $3,370, Gombe Command secured N127,323,028.50 and $1,500, and Kano Command recovered N141,944,451 and $365.

Additionally, the Makurdi Command reclaimed N53,228,325, Enugu Command secured N202,117,000 and $1,950, Uyo Command recovered N25,299,950 and $710, while Port Harcourt Command excelled with N2,412,247,210.05 and $5,714,389.21.

Noteworthy recoveries include Sokoto Command with N100,696,118.72, Kaduna Command securing N331,494,710.81, $912, £50, and €1,610, Ilorin Command recovering N80,280,580.86 and $880, Abuja Zonal Command with N825,928,463 and $10,000, and Ibadan Zonal Command obtaining N135,519,810, $14,517, £280, and €500.

The Lagos Zonal Command reported a substantial recovery of N6,826,993,798.78, $868,284.61, £147,672.10, and €1,899.90.

In a parallel effort, the Benin Zonal Command secured the recovery of N49,515,987.09 and $5,700.

Simultaneously, the EFCC achieved 747 convictions during this period, predominantly centered on cybercrime and money laundering offenses.

Chairman Ola Olukoyede disclosed at a dialogue in Abuja that a significant portion of the convictions stemmed from prosecutions related to cybercrimes.

The EFCC further disclosed that it has deepened its investigation into money laundering cases involving high-profile public officials, including former governors and ministers accused of fraud.

The total amount implicated in these cases has reached around N130.1bn as of January 31, 2024, as revealed in an EFCC document titled ‘100 Days in Office,’ outlining ongoing probes, discoveries, and recoveries under Chairman Ola Olukoyede’s leadership.

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Fuel Pricing: PETROAN Accuses Dangote Refinery Of Monopoly

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The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns over alleged monopolistic practices by Dangote Refinery, following a public dispute about fuel pricing in the downstream petroleum sector.

Recall that the refinery, Africa’s largest, recently disclosed its petrol pricing at N990 per litre in trucks and N960 per litre into ships, a move it justifies as being in line with international rates.

READ MORE: Nigeria’s Debt Service Ratio Falls To 65% As Tinubu Tackles Economic Woes

PETROAN, however, sees this as an attempt to suppress competitors and dominate the Nigerian market.

The rift began when Dangote Refinery claimed that complaints from marketers regarding its pricing were fueled by intentions to import cheaper, potentially substandard products.

In response, PETROAN strongly rejected these allegations, suggesting that Dangote’s claims are tactics designed to maintain a monopoly in the sector.

Joseph Obele, PETROAN’s spokesperson, stated that the association remains committed to importing high-quality products at more competitive rates to ensure affordability for Nigerian consumers.

According to PETROAN, competition in the market is essential for achieving fair pricing, and any attempt to stifle it would be detrimental to consumers.

They argue that Dangote Refinery’s pricing should reflect production costs and fair margins rather than international benchmarks, especially given concessions granted by the government for the refinery’s establishment.

PETROAN also announced its plans to partner with foreign refineries and financial backers to import premium-quality petroleum products at prices below current rates.

The association aims to enter the market by December 2024, pending necessary regulatory approvals.

“The allegations that PETROAN will import substandard products are unfounded and aimed at creating an unfair playing field,” the statement read.

PETROAN warned that similar claims in the past had led to significant price hikes when competitors were pushed out, emphasizing that the entry of new players into the market would lead to more competitive pricing and ultimately benefit Nigerian consumers.

PETROAN expressed appreciation for President Bola Tinubu’s commitment to revitalizing Nigeria’s state-owned refineries and urged the government to consider privatizing the Port Harcourt and Warri refineries once rehabilitation is complete.

The association believes a transparent privatization process will help strengthen Nigeria’s downstream sector and counter monopolistic tendencies.

To address the ongoing pricing challenges in the sector, PETROAN called on the government to convene a comprehensive meeting of industry stakeholders, including major associations like IPMAN, DAPPMAN, MEMAN, NUPENG, and PENGASSAN.

PETROAN believes that collaboration among these groups will be instrumental in establishing a sustainable and competitive pricing framework for petroleum products in Nigeria.

 

 

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Hardship: Let Us Intensify Prayers For Our Leaders – Sultan Of Sokoto Tells Nigerians

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Sultan of Sokoto, Sa’ad Mohammad Abubakar II, has called on Nigerians to avoid publicly criticizing their leaders, instead urging citizens to place their trust in God to address leadership concerns as He deems fit.

Speaking at the Regional Conference on Climate Change-Induced Conflicts in Northern Nigeria, organized by the Kaduna State Bureau of Interfaith in collaboration with International Alert, the Sultan emphasized faith and patience in navigating the country’s challenges.

READ ALSO: Gunmen Attack Police Facility In Owerrinta, Female Detainee Killed

Acknowledging Nigeria’s current economic and social hardships, the Sultan encouraged continuous prayer, not only for the nation but for its leaders as well.

“Even though many feel times are particularly hard, we believe relief will come. Let’s increase our prayers for our leaders, trusting God to address them in His way,” he said, expressing hope that divine intervention could bring stability and prosperity.

The Sultan reminded political leaders of their ultimate accountability to God, cautioning that they will stand alone on the Day of Resurrection, with only their deeds to support them.

“On that day, every leader will stand alone. Governors, advisers—none will have support except their own deeds. Let us act with a deep sense of responsibility and fear of God,” he stated.

Addressing religious leaders, he warned against misleading their followers for personal gain, underscoring the trust many place in their religious guidance.

“Only God can save any human being,” he said, encouraging Nigerians to remain faithful and discerning in their spiritual beliefs. “Focus on worshiping Allah and leave the rest to Him. Don’t follow those who might lead you astray.”

With leaders from various religious communities, including the President of the Christian Association of Nigeria (CAN), in attendance, the Sultan called for unity, resilience, and communal effort to tackle pressing issues such as climate change, poverty, and insecurity in the northern region.

He praised the North’s history of unity and resilience, warning against divisive narratives that threaten communal harmony. “When we are united, we can face any challenge and build a prosperous community,” he asserted.

The Sultan’s remarks come amid ongoing social and environmental issues in the region, including a recent surge in climate-related challenges that have exacerbated poverty and security threats.

In light of these issues, he called on both Muslims and Christians to intensify their prayers, saying, “Our country faces many challenges, and we must turn to God in prayer. Let us intensify prayers in our mosques and churches.”

 

 

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#EndBadGovernance Protests: Tinubu Orders Release Of Detained Minors

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In a decisive move, President Bola Tinubu has ordered the immediate release of all minors detained by police during the recent #EndBadGovernance protests.

The directive, announced by Minister of Information and National Orientation, Mohammed Idris on Monday, underscores the government’s commitment to protecting children’s rights and ensuring justice.

Related News: EndBadGovernance Protests: Court Sets N10m Bail Each For 67 Minors

Idris confirmed that President Tinubu’s directive prioritizes the welfare of detained minors, instructing the Ministry of Humanitarian Affairs to facilitate their safe reunification with their families.

A committee led by the Ministry of Humanitarian Affairs will be established to oversee the welfare of the released minors and ensure compliance with the president’s orders.

Additionally, President Tinubu has directed a formal investigation into the actions of law enforcement agencies involved in the arrests.

The president emphasized that any misconduct uncovered during the investigation will result in disciplinary action, affirming his administration’s dedication to accountability within law enforcement.

 

 

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