The Economic and Financial Crimes Commission (EFCC) has reportedly exposed a total sum of N37.1 billion allegedly laundered within the Ministry of Humanitarian Affairs during the tenure of former minister Sadiya Umar-Farouk.
Exclusive details from the ongoing investigation, obtained by Sunday PUNCH, disclosed that the funds were purportedly transferred from the Federal Government’s accounts to 38 different bank accounts held in five legacy commercial banks linked to a contractor, James Okwete.
According to the information revealed, Okwete allegedly engaged in various financial transactions, including transferring N6,746,034,000.00 to Bureau De Change Operators, withdrawing N540,000,000.00 in cash, purchasing luxury cars amounting to N288,348,600.00, and acquiring upscale properties in Abuja and Enugu State valued at N2,195,115,000.00.
The investigation further identified fifty-three companies allegedly connected to Okwete, with reports indicating that he utilized 47 of these companies to secure Federal Government contracts totaling N27,423,824,339.86.
Additionally, Okwete is reportedly linked to 143 bank accounts across 12 commercial banks, of which 134 are corporate accounts associated with various companies.
The EFCC is intensifying efforts to unravel the extent of the alleged financial misconduct and bring those involved to justice.
