The Economic and Financial Crimes Commission has announced the successful recovery of a total of N27,184,357,524.52 and $19,084,419.33 in three separate money laundering cases.
The agency is intensifying its efforts to recover more illicit funds and has promised to release details of its ongoing investigations into former governors, ex-ministers, and government officials across the country in response to numerous petitions received.
The EFCC is actively probing several public officials, including former governors, former ministers, and ministry officials, with details of their involvement and investigations set to be disclosed to the public in due course.
The spokesperson for the EFCC,Dele Oyewale, made these developments known during a media interaction with select journalists in Lagos on Wednesday.
He emphasized the ongoing investigations into monumental procurement fraud cases involving officials from the Federal Ministry of Power and the Ministry of Agriculture.
These investigations focus on funds allocated for the Mambilla and Zungeru Power projects, which were allegedly diverted through various Bureau de Change operators.
Oyewale disclosed that the EFCC had already seized multiple houses in the Federal Capital Territory, Lagos, and Cross River states, which were identified as the proceeds of funds meant for the Mambilla and Zungeru Power projects.
He stated, “In three different cases, the commission has recovered N27,184,357,524.52 and $19,084,419.33. While ongoing recovery is being made, the commission’s works are progressing in line with our mandate as prevention initiatives, risk assessments and recovery efforts are being intensified.
“Petitions were received in respect of several public officials, some of them former governors, some former ministers, and some ministry officials, and investigations are ongoing on those petitions; however, details of their involvements and our investigations will soon be made public.
“Also, investigations are ongoing in respect of monumental fraud involving some officials of the Federal Ministry of Power and Agriculture; procurement fraud actually. Funds meant for the Mambilla and Zungeru Power projects are diverted through sundry Bureau de Change operators. For now, several houses purchased with the funds are being recovered. The houses are in Abuja, Lagos and Cross River States.”
