36 Accounts and N37B Fraud Are Revealed by EFCC, Linking Former Minister and Contractor Under Buhari

36 Accounts and N37B Fraud Are Revealed by EFCC, Linking Former Minister and Contractor Under Buhari

SaharaReporters claims that during the administration of former President Muhammadu Buhari, the Economic and Financial Crimes Commission (EFCC) allegedly uncovered an alleged money laundering scheme totaling N37,170,855,753.44 in the Ministry of Humanitarian Affairs, which was headed by former Minister Sadiya Umar-Farouk. CONTINUE FULL READING>>>>>

According to exclusive details obtained by Sunday PUNCH, the ongoing probe reveals that the funds were transferred from the Federal Government’s accounts to 38 different bank accounts associated with James Okwete, a contractor. Okwete is accused of transferring large sums to Bureau De Change operators, making cash withdrawals, buying luxury cars, and acquiring high-value properties in Abuja and Enugu State. The investigation links 53 companies to Okwete, with 47 of them allegedly securing federal contracts totaling N27,423,824,339.86. Okwete is reportedly associated with 143 bank accounts in 12 commercial banks, and while he is a director in only 11 of the 53 companies, the accounts of the remaining 42 companies are linked to his Bank Verification Number as a signatory. The Ministry of Humanitarian Affairs oversees various agencies, including the National Social Investment Office and the National Commission for Refugees, Migrants, and Internationally Displaced Persons. Umar-Farouq, the pioneer minister, served from July 2019 as the youngest cabinet member.

The EFCC document exposes transactions between 2018 and 2023, revealing transfers from the Federal Government to Okwete’s bank accounts and detailing expenditures on various assets. It also highlights the ICPC’s previous discovery of N2.67 billion in private accounts related to the ministry’s school feeding program. Despite calls for transparency by groups like Socio-Economic Rights and Accountability Project, Umar-Farouq did not disclose the names of the suspects involved in the alleged financial irregularities. CONTINUE FULL READING>>>>>

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