UPDATE; EFCC Investigates Four Ministers In The Buhari Administration For Alleged Multibillion Naira Fraud, Initiates Arrests.

The Economic and Financial Crimes Commission (EFCC) has initiated inquiries into an alleged fraudulent scheme amounting to multibillion naira, implicating four ministers who served during the tenure of former President Muhammadu Buhari. The former ministers are suspected of orchestrating a money laundering operation, involving an estimated N187 billion distributed across 143 bank accounts…

Simultaneously, the EFCC has apprehended James Okwete, a government contractor, in connection with an ongoing investigation into the alleged embezzlement of N37 billion by the Ministry of Humanitarian Affairs, Disaster Management, and Social Development, under the leadership of former Minister Sadiya Umar-Farouk.

A senior EFCC official disclosed that Okwete, the contractor, has provided valuable information regarding Umar-Farouk and former directors-general of the ministry. The scope of the investigation extends beyond Umar-Farouk, as three other former ministers are reportedly under scrutiny for their alleged involvement in corrupt practices amounting to N150 billion.

Efforts to obtain reactions from Umar-Farouk were unsuccessful, with her media aide, Nneka Nkem, unavailable for comments. Sources suggest that Umar-Farouk and certain former directors-general linked to the ministry may face arrest based on the revelations made by the cooperating contractor.

Investigations reveal that the N37.1 billion in question was transferred from the Federal Government to 38 different bank accounts held in five legacy commercial banks associated with Okwete. The detained contractor has been collaborating with EFCC operatives, divulging details that implicate Umar-Farouk and directors-general in the financial misappropriation.

Documents expose Okwete’s utilization of the funds, including transfers to Bureau De Change Operators, cash withdrawals, luxury car purchases, and acquisitions of premium properties in Abuja and Enugu State. A total of 53 companies have been linked to Okwete, with 47 of them allegedly securing Federal Government contracts totaling N27,423,824,339.86.

The spokesperson for the EFCC, Dele Oyewale, declined to comment on the matter. The investigation continues, and further actions, including potential arrests, are anticipated based on the emerging evidence