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EFCC Freezes N30 Billion Linked To Suspicious NSIPA Account Transactions

Published

12 months ago

Jan 4, 2024.

Eko Hot Blog reports that the 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) to multiple accounts by some NSIPA officials.

Some officials are currently being investigated over the suspicious movement of N44 billion from NSIPA’s accounts into private and corporate accounts linked to those serving as fronts.

Naija News reports that EFCC interrogators on Wednesday grilled the suspended National Coordinator/Chief Executive Officer (CEO) of the agency, Halima Shehu.

Suspended NSIPA CEO Halimah Shehu

The anti-graft commission also arrested NSIPA’s immediate past Director of Finance and Accounts (DFA), Bwai Adamu Hamza, who retired in December.

While Shehu and Hamza were interrogated yesterday by a special team, the immediate-past Humanitarian Affairs, Disaster Management, and Social Development minister, Sadiya Umar-Farouq, failed to honour the EFCC invitation to appear for questioning.

Umar-Farouq was invited for interrogation over the alleged laundering of N37, 170,855,753.44 during her tenure through a contractor, James Okwete. The former minister denied the allegations.

Investigations showed that the ongoing probe of NSIPA assumed a new dimension following the discovery that the total cash taken out of the agency’s vaults was N44 billion.

But, after tracking the cash movement, the EFCC recovered and froze the N30 billion it 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.

Detectives were still profiling many accounts last night to uncover the balance of N14 billion.

Speaking to The Nation, a source said the EFCC Executive Chairman, Ola Olukoyede, was personally leading the probe.

The source said: “After hours of interrogation and profiling of many accounts, the EFCC was able to confirm that unauthorised N44 billion was suspiciously moved out of NSIPA’s account to some private and corporate accounts.

“So far, N30billion has been traced to some accounts and frozen.

“Our operatives are on the trail of the owners and alleged fronts or firms used to siphon the cash.

“Records showed that the N44 billion was hurriedly moved out of NSIPA’s account in one week.”

Another source said: “The National Coordinator and the ex-DFA were grilled by our investigating team for hours on Wednesday. Halima was taken into custody on Tuesday, while Hamza was arrested yesterday.

“Based on the new focus of the EFCC chairman, Halima was, on compassionate ground, allowed to go home at about 11 pm on Tuesday. She reported for another round of interaction yesterday.

“For Hamza, the EFCC arrested him following intelligence that he might travel out of the country for an engagement.”

EFCC Office

The source added: “The two persons have made useful statements, and we have recovered some records which enabled us to trace and freeze N30 billion. For a long time, the two officials have been working together.

“Immediately Hamza retired, Halima appointed him as a Special Adviser on Finance. He was expected to resume work on Tuesday.

“Our team is, however, working round the clock to uncover the accounts where the remaining N14 billion was hidden.”

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