EFCC Cracks Down on Alleged N44 Billion Fraud: Freezes N30 Billion Linked to National Social Investment Programme

The Economic and Financial Crimes Commission (EFCC) has intensified its efforts in cracking down on an alleged N44 billion fraud associated with the National Social Investment Programme Agency (NSIPA).

The anti-graft agency has taken decisive action, freezing a substantial N30 billion linked to the controversial financial dealings.

Multiple accounts connected to the movement of funds from NSIPA’s accounts have been targeted and frozen as part of the ongoing probe with suspicions arising that the N44 billion was surreptitiously funneled into private and corporate accounts by certain NSIPA officials, believed to be acting as fronts.

Among the officials under investigation, the suspended National Coordinator/Chief Executive Officer of NSIPA, Halima Shehu, faced extensive interrogation by EFCC interrogators for several hours.

The former Director of Finance and Accounts (DFA) of NSIPA, Mr. Bwai Adamu Hamza, who retired in December, was also arrested and subjected to questioning.

Former Humanitarian Affairs, Disaster Management and Social Development minister, Sadiya Umar-Farouq, was notably absent from the EFCC interrogation, having failed to honor the commission’s invitation without providing any explanation.

The EFCC had summoned Umar-Farouq to address allegations related to the laundering of N37,170,855,753.44 during her tenure, involving a contractor named James Okwete.

Despite the serious nature of the allegations, the former minister neither appeared for questioning nor offered any explanation for her absence, raising the possibility of the EFCC declaring her wanted.

The ongoing investigation into NSIPA has revealed that a total of N44 billion was suspiciously moved out of the agency’s accounts into various private and corporate accounts.

The EFCC, under the leadership of Chairman Mr. Ola Olukoyede, has successfully tracked and frozen N30 billion of this amount, marking a significant milestone in the inquiry.

Operatives continue to trail the owners and entities connected to the frozen funds, with ongoing efforts aimed at recovering the remaining N14 billion.

The agency has also arrested Hamza to clarify his role in overseeing the movement of cash during his tenure.

As the EFCC’s relentless pursuit of the truth unfolds, the revelations surrounding the NSIPA financial scandal emphasize the imperative for accountability and transparency in public funds management, showcasing the commission’s commitment to combating financial malfeasance in Nigeria.