EFCC Discovers Fraudulent COVID Funds, World Bank Loan in Poverty Ministry

The Economic and Financial Crimes Commission (EFCC) has uncovered shady dealings involving COVID-19 funds, a World Bank loan, and Abacha recovered loot within the Ministry of Poverty Alleviation and Humanitarian Affairs in Nigeria.

The anti-graft agency stated that these funds were intended for poverty alleviation programs but were instead used in fraudulent practices.

In a recent statement, the EFCC disclosed that it has recovered N32.7 billion and $445,000 from the ministry during its ongoing investigations.

Suspended officials of the ministry have been linked to the fraudulent practices, and the EFCC has stated that those found guilty will be prosecuted accordingly.

The EFCC emphasized that its investigations are focused on the system and intricate web of fraudulent practices within the ministry, rather than targeting specific individuals.

Banks involved in the alleged fraud are also being investigated, with the managing directors of the implicated banks providing statements to the investigators.

The public has been urged to ignore any claims suggesting that individuals involved in the fraud have been cleared.

The EFCC has made it clear that its investigations are still ongoing and advancing steadily, with the aim of bringing to justice those responsible for the misappropriation of funds intended for poverty alleviation.

This recent discovery by the EFCC highlights the ongoing issue of corruption within Nigeria’s government institutions and the importance of holding those responsible accountable for their actions.

The recovery of these funds and the ongoing investigations serve as a reminder of the need for transparency and accountability in the management of public funds in Nigeria.