The Economic and Financial Crimes Commission (EFCC) has summoned Sadiya Umar-Farouq, the former Minister of Humanitarian Affairs, Disaster Management, and Social Development, in connection with an ongoing investigation into N37,170,855,753.44 allegedly laundered under her supervision through a contractor, James Okwete.
On Wednesday, January 3, 2024, the former minister was summoned to appear before interrogators at the EFCC offices in Jabbi, Abuja, to explain the alleged fraud.
“During your tenure as minister, the commission is investigating a case of money laundering involving the Ministry of Humanitarian Affairs, Disaster Management, and Social Development.”
“In light of the foregoing, you are kindly requested to report for an interview with the undersigned.” As follows is the schedule: Wednesday, January 3, 2024. “Time: 10 a.m.,” the invitation letter stated.
“This request is made pursuant to Section 38 (I) of the Economic and Financial Crimes Commission (Establishment) Act, 2004 & Section 21 of the Money Laundering (Prohibition) Act, 2011” , according to the statement.
Meanwhile, new information has emerged as to why EFCC Chairman Ola Olukoyede demanded on the account details of nine oil-producing states in exchange for the recovery of the N52 billion recovered from a consultant who allegedly diverted their money into private hands.
The EFCC launched an inquiry into the fraudulent techniques underpinning the deals after the Olusegun Akindele Consultancy Firm reportedly diverted N84 billion destined for the nine states.
According to THISDAY investigations, the EFCC chairman did not want the recoveries to be re-looted because four parties were involved in the money’s diversion.
It is feared that the individuals who tampered with the monies initially may devise new, inventive strategies to corner the recoveries. Furthermore, the EFCC chair was alleged to be uneasy with the governors’ refusal to provide their state governments’ account details for the money’s repatriation.
“As far as he is concerned, there should be nothing holding the governors from coming forward with the required account details since the money was recovered for their states” , the person said.
The circumstance sparked a feud between the EFCC and nine governors of oil-producing states over N84.7 billion taken from the statutory 13% derivation allocated for the nine oil-producing states.
The release of N52 billion confiscated from former Accountant General of the Federation, Ahmed Idris, and some of his accomplices was also at issue, according to a THISDAY investigation.
The EFCC has charged Idris with N109 billion in money laundering, diversion of public funds, abuse of power, and conspiracy.
According to THISDAY, the EFCC probe discovered N84.7 billion taken from the statutory 13% derivation meant for the nine oil-producing states.
Abia, Akwa Ibom, Bayelsa, Cross River, Delta, Edo, Imo, Ondo, and Rivers are the states involved.
The funds were allegedly looted by Olusegun Akindele Consultancy and other accomplices hired by the nine NDDC states to evaluate and reconcile payments owed to them from the Excess Crude Account between 2004 and 2016.
Olusegun Akindele Consultancy firm earned a total of N84. 7 billion as consultancy fees, which is 9.84 percent of N861,135,887,749.10 divided among four entities.
The EFCC was able to recover N52 billion from fraudulent consultant contracts to three of the four groups after a thorough investigation.
The monies are the property of the nine oil-producing states, as determined by the Federal Executive Council (FEC) during its meeting on August 20, 2021.
Further inquiry revealed that multiple correspondences were exchanged between the Akwa Ibom State Governor and the EFCC on behalf of the nine oil-producing states.
Pastor Umo Eno, the governor of Akwa Ibom State, wrote to the EFCC requesting that the N52 billion be released to a consultant, Messrs Platinum Resources Limited.
According to THISDAY, the EFCC turned down the plea, requesting that each state give the account details of their government in order for the money to be released. The EFCC’s directive was not followed.
Eno submitted the EFCC the account details of four states, namely Akwa Ibom, Delta, Bayelsa, and Rivers, in order for the recovery to be released. The remaining five states’ account information was not sent.
Further inquiry revealed that the EFCC refused to cooperate, insisting on receiving all of the nine states’ account information.
THISDAY has learned that the EFCC chief, Olukoyede, intends to deposit the funds in each state’s CBN derivation account.
“This development is the foundation of the governors’ fight with the commission.”
“The EFCC’s position is to allow for transparency and accountability regarding the use of recovered funds,” a knowledgeable source acquainted with the situation stated.
When THISDAY called the EFCC’s spokesman, Dele Oyewale, he declined to comment. (THISDAY)