Connect with us

Hi, what are you looking for?

News

Alleged N44bn Fraud: EFCC Freezes Private Accounts with Stolen N30bn NSIPA Funds

EFCC

Economic and Financial Crimes Commission, EFCC, has tracked and frozen N30 billion of the N44 billion moved from the accounts of the National Social Investment Programme Agency, NSIPA.

The development comes barely 24 hours after Halima Shehu, the embattled National Coordinator of NSIPA, was detained and arrested by EFCC after her suspension by President Bola Ahmed Tinubu.

A source who spoke anonymously to The Nation revealed on Wednesday that the multiple accounts in which some NSIPA officials moved the anti-graft agency have been frozen as part of an ongoing probe.

“After hours of interrogation and profiling of many accounts, the EFCC confirmed that unauthorised N44 billion was suspiciously moved out of NSIPA’s account to some private and corporate accounts”.

On Wednesday, EFCC grilled Shehu over the alleged fraud.

The anti-graft commission also arrested NSIPA’s immediate past Director of Finance and Accounts, DFA, Bwai Adamu Hamza.

Hamza retired from the agency in December.

Shehu and Hamza were subjected to interrogation yesterday by a special team.

To this end, after tracking the cash movement, the EFCC recovered and froze the N30 billion traced to multiple accounts.

As of Tuesday, the agency had intercepted and seized N17 billion.

Within 24 hours, the commission traced and froze an additional N13 billion in some accounts, raising the cash seized to N30 billion.

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.

This comes as Former Humanitarian Affairs, Disaster Management and Social Development minister, Sadiya Umar-Farouq, whom Halima Shehu worked under, shunned the EFCC invitation to appear for interrogation.

The EFCC invited Umar-Farouq over the alleged laundering of N37, 170,855,753.44 during her tenure through a contractor, James Okwete.

The former minister denied the allegations.

Click to comment

Leave a Reply

Your email address will not be published.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

ad

You May Also Like

Tech

Dr. Aminu Maida, the Executive Vice Chairman and Chief Executive Officer of the Nigerian Communications Commission (NCC), has addressed consumer concerns on data depletion,...

Tech

MTN Foundation has affirmed its leadership in innovation through CSR initiatives, receiving the “Transformational Solutions in Education & Skills Acquisition Award” at the eighth...

Sports

Nigerian footballer, Victor Osimhen has ruled out the possibility of leaving Galatasaray when the transfer window reopens in January. The Nigeria international joined the...

Cryptocurrency

Obinna Iwuno, President of the Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), has urged the Nigerian government to consider a national Bitcoin strategy...