The Economic and Financial Crimes Commission (EFCC) has stepped up its investigation into the involvement of bank chief executive officers (CEOs) in the mismanagement of COVID-19 funds and World Bank loans. The agency is also probing the alleged mismanagement of recovered Abacha loot intended for the Federal Government's support-for-the-poor program, which was given to the Humanitarian Affairs, Disaster Management, and Social Development ministry for disbursement.
In a statement by its spokesman, Dele Oyewale, the EFCC clarified its investigation into the ministry and announced that it had received N32.7 billion and $445,000 from top officials of the ministry under its scrutiny. The agency emphasized that the abuse of the naira has become a priority investigation, with many celebrities being probed for their illegal use of the national currency.
The EFCC highlighted its investigation into malfeasance in the Humanitarian Affairs, Disaster Management, and Social Development ministry, noting that past and suspended officials of the ministry have been invited for questioning. The investigations have so far led to the recovery of N32.7 billion and $445,000. The agency also mentioned that investigations have uncovered fraudulent dealings involving COVID-19 funds, the World Bank loan, and the Abacha recovered loot.
Regarding the works against Naira abuse and dollarization of the economy, the EFCC expressed appreciation for the public's support and involvement. The agency emphasized its commitment to investigating and prosecuting anyone involved in the abuse of the Naira, noting that new videos of such infractions will be investigated and prosecuted. Several celebrities involved in Naira abuse are currently under investigation, with many of them having made useful statements to the Commission.
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