VMT News Ltd
No 1 News Site in Nigeria

Betta Edu: EFCC recovers N30bn, places 50 bank accounts under investigation


The Economic and Financial Crimes Commission (EFCC) has so far recovered N30 billion in the ongoing probe of suspended Minister of Humanitarian Affairs and Poverty Alleviation, Betta Edu.

The Chairman of EFCC, Mr Ola Olukoyede, said this in the March edition of the commission’s monthly e-magazine, EFCC Alert, released on Monday.

Olukoyede said the commission had also placed 50 bank accounts under investigation over alleged fraud that involved Halima Shehu, suspended Chief Executive Officer (CEO) of the  National Social Investment Programme Authority (NSIPA).

President Bola Tinubu had in January,  suspended both Edu and Shehu over alleged payment of N585 million humanitarian funds meant for vulnerable groups in Akwa Ibom, Lagos state,  Cross River and Ogun into a private account.

The President also suspended Social Investment Programme and, thereafter, asked the EFCC to take over the case and probe both embattled officials,  including anyone involved.

Olukoyede said the anti-graft agency was making progress on the investigation, emphasising the magnitude of the case and the need for Nigerians to exercise patience.

“With respect to this particular case, we have recovered over N30 billion, which is already in the coffers of the Federal Government. It takes time to conclude investigations; we started this matter less than six weeks ago,” he said.

According to him, there are cases that take years to investigate. There are so many angles to it. And we need to follow through with some of the discoveries that we have seen.

“Nigerians should give us time on this matter; we have professionals on this case and they need to do things right.There are so many leads here and there.”

According to him, as it is now, the commission is investigating over 50 bank accounts that we have traced money to.

“That is no child’s play. That’s a big deal. And again, we have thousands of other cases that we are working on.

“Nigerians have seen the impact of what we have done so far by way of some people being placed on suspension and by way of the recoveries that we have made. You have seen that the programme itself has been suspended,” he said.

He said  the commission was exploring so many discoveries that it had  stumbled upon in its investigation.

“If it is about seeing people in jail, well let them wait, everything has a process to follow.

“So, Nigerians should wait and give us the benefit of the doubt,” Olukoyede stated

Support Voice Media Trust journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country, we ask you to consider making a modest support to this noble endeavour.

By contributing to Voice Media Trust, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate into:

Dollar Account:

  • A/C NO: 3003093745

Naira Account:

  • A/C NO: 1023717841

Leave a Reply