EFCC Uncovers Alleged N37.1 Billion Money Laundering in Ministry of Humanitarian Affairs
EFCC Uncovers Alleged N37.1 Billion Money Laundering in Ministry of Humanitarian Affairs
By Jerry Adesewo
The Economic and Financial Crimes Commission (EFCC) has reportedly exposed a total sum of N37.1 billion, believed to be laundered funds, within the Ministry of Humanitarian Affairs during the tenure of former minister Sadiya Umar-Farouk.
Details from the ongoing investigation, exclusively obtained by Sunday PUNCH, reveal that the funds were purportedly transferred from the Federal Government’s accounts to 38 different bank accounts in five legacy commercial banks linked to or associated with a contractor named James Okwete.
Upon receiving the funds, Okwete allegedly conducted several transactions, including transferring N6,746,034,000.00 to Bureau De Change Operators, withdrawing N540,000,000.00 in cash, purchasing luxury cars totalling N288,348,600.00, and acquiring upscale properties in Abuja and Enugu State with N2,195,115,000.00.
The investigation further claims that Okwete is associated with 53 companies, using 47 of them to secure Federal Government contracts amounting to N27,423,824,339.86. Additionally, he is allegedly linked to 143 bank accounts across 12 commercial banks, with 134 of these accounts being corporate accounts associated with various companies.
The EFCC’s revelations raise concerns about financial improprieties within the Ministry of Humanitarian Affairs during the specified period, prompting intensified scrutiny into the alleged money laundering activities.
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