In a recent development, the Economic and Financial Crimes Commission (EFCC) has revealed startling details of an alleged N37.1 billion money laundering scheme within the Ministry of Humanitarian Affairs during the tenure of former minister Sadiya Umar-Farouk.
Exclusive information obtained by Sunday Punch Newspapers outlines that the funds were siphoned from the Federal Government's coffers and directed into 38 distinct bank accounts spread across five legacy commercial banks associated with contractor James Okwete.
According to the ongoing probe, Okwete purportedly engaged in various financial transactions, including transferring N6,746,034,000.00 to Bureau De Change Operators, withdrawing N540,000,000.00 in cash, acquiring luxury cars amounting to N288,348,600.00, and purchasing opulent houses in Abuja and Enugu State with N2,195,115,000.00.
The investigation further revealed that Okwete is linked to 53 companies, with 47 of these entities allegedly securing Federal Government contracts totaling N27,423,824,339.86. Additionally, he is associated with 143 bank accounts spread across 12 commercial banks, with 134 of these accounts identified as corporate accounts linked to various companies.
The EFCC's relentless pursuit of financial irregularities underscores the commitment to rooting out corruption and ensuring accountability in government agencies. As the investigation unfolds, the public awaits further details on the Ministry of Humanitarian Affairs scandal that has gripped the nation.
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