The Economic and Financial Crimes Commission (EFCC) has announced the recovery of N27,184,357,542 and $19,084,419 from three distinct money laundering cases.
During a briefing in Lagos on Wednesday, EFCC spokesman, Dele Oyewale said the anti-graft agency would soon disclose details of an ongoing investigation involving former governors, ex-ministers, and other government officials.
Oyewale revealed that the EFCC is probing a significant procurement fraud related to officials from the federal ministries of power and agriculture.
According to him, this “monumental” fraud reportedly involves the diversion of funds earmarked for the Mambilla and Zungeru power projects.
He said that the agency has seized multiple houses in Abuja, Lagos, and Cross River, suspected to be proceeds from the funds allocated for the mentioned 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.
“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.
Meanwhile, President Bola Tinubu has appointed Ola Olukoyede as the Executive Chairman of the EFCC, pending confirmation by the Senate.
