Top executives, including Chief Executive Officers and Managing Directors of Zenith Bank, Providus Bank, and Jaiz Bank, are currently undergoing interrogation by the Economic and Financial Crimes Commission (EFCC), in connection with an alleged ₦44 billion fraud discovered in the Ministry of Humanitarian Affairs and Poverty Alleviation.
The investigation, centered on the suspended Minister of Humanitarian Affairs, Betta Edu, and the Coordinator and CEO of the National Social Investment Programme Agency, Halima Shehu, has entered a crucial phase at the EFCC headquarters in Jabi, Abuja.
The suspended Minister, Betta Edu, is facing inquiries regarding a ₦585 million scandal, while Halima Shehu is under scrutiny for her alleged involvement in a ₦44 billion fraud. Both individuals are undergoing intensive interrogation, and according to an EFCC source, new revelations have emerged during their questioning, contributing to the ongoing investigation.
The senior bank executives from Zenith Bank, Providus Bank, and Jaiz Bank were invited and are being probed for their connection to the ₦44.5 billion fraud and the ₦585 million scandal involving Edu and Shehu.
The EFCC is diligently tracing suspicious transactions related to the movement of funds from the National Social Investment Programme Agency’s accounts into private and corporate accounts linked to individuals acting as fronts.
Betta Edu’s suspension by President Bola Tinubu is directly linked to the ongoing investigations, with a comprehensive inquiry into her activities in the ministry ordered by the President. The EFCC is working in compliance with Tinubu’s directive to conduct a thorough examination of the circumstances surrounding the alleged financial irregularities.
In related developments, Sadiya Farouq, Edu’s predecessor, faced questioning by EFCC interrogators on Monday over allegations of laundering ₦37.1 billion during her tenure as a minister in former President Muhammadu Buhari’s cabinet.
Furthermore, the coordinator of NSIPA, Halima Shehu, who was previously arrested in connection with the ₦44 billion money laundering case, has been released from EFCC custody but remains subject to daily meetings with investigators as the inquiry progresses.
The EFCC spokesperson, Dele Oyewale, emphasized that the commission is actively tracing suspicious transactions and cannot provide a specific figure at this stage due to the complexity of the ongoing investigation.
The ministry and its agencies, focused on humanitarian interventions, are at the center of the probe, highlighting the need for a meticulous examination of financial transactions and activities.
