IN a recent statement, Nigeria’s Economic and Financial Crimes Commission (EFCC) revealed the recovery of $28.88 million in connection with an investigation into alleged fraud within the Ministry of Humanitarian Affairs and Poverty Alleviation. The probe, initiated by President Bola Tinubu, aimed to address fraudulent activities within the ministry responsible for poverty alleviation efforts.
The investigation, which led to the suspension of Minister Betta Edu in January, unearthed a complex network of fraudulent practices within the ministry. EFCC spokesperson Dele Oyewale stated that the probe has so far recovered 32.7 billion naira ($28.43 million) and $445,000. Ongoing investigations target both past and suspended ministry officials.
‘Investigations are ongoing and advancing steadily,’ remarked Oyewale, indicating the agency’s commitment to uncovering further instances of corruption. Beyond individual culpability, the EFCC is scrutinising the potential misuse of Covid-19 funds, a World Bank loan, and funds recovered from former dictator Sani Abacha, which were allocated to poverty alleviation programs.
The scope of the investigation extends beyond individuals to implicate banks allegedly involved in facilitating the fraudulent activities. Oyewale noted that managing directors of indicted banks have provided valuable statements to investigators, although specific bank names were not disclosed.
Nigeria’s battle against corruption has long been a central issue in its governance landscape. Despite being Africa’s leading oil producer and largest economy, widespread poverty persists, often attributed to corruption among the political elite. President Tinubu’s administration has pledged to address corruption and stimulate economic growth, making investigations such as these crucial steps in fulfilling those promises.