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EFCC uncovers N37bn fraud in federal ministry, indicts Buhari’s minister, contractor

Published

2 years ago

December 24, 2023

EFCC uncovers N37bn fraud in federal ministry, indicts Buhari’s minister, contractor

The Economic and Financial Crimes Commission (EFCC), has uncovered a total sum of N37,170,855,753.44 allegedly laundered in the Ministry of Humanitarian Affairs under former minister Sadiya Umar-Farouk, Punch has reported.

Details of the ongoing probe obtained by the newspaper revealed that the money was transferred from the Federal Government’s coffers and sent to 38 different bank accounts domiciled in five legacy commercial banks belonging to or connected with a contractor.

Following receipt of the funds, the contractor allegedly transferred N6,746,034,000.00 to Bureau De Change Operators, withdrew N540,000,000.00 in cash, purchased luxury cars with N288,348,600.00, and bought luxury houses in Abuja and Enugu State with N2,195,115,000.00.

Fifty-three companies were allegedly traced to the contractor, who was also said to have used 47 of the companies to lift Federal Government contracts amounting to N27,423,824,339.86. He is also linked with 143 bank accounts in 12 commercial banks in which 134 accounts are corporate accounts linked to different companies.

Checks by Punch with the Corporate Affairs Commission revealed that Okwete is a director in only 11 of the 53 companies, while the remaining 42 companies’ accounts are only linked to his Bank Verification Number as a signatory to the accounts.

The newspaper reports that the Federal Ministry of Humanitarian Affairs currently serves as the parent ministry to eight agencies, including the National Social Investment Office, the Office of the Senior Special Assistant to the President on Sustainable Development Goals, and the National Commission for Refugees, Migrants, and Internationally Displaced Persons, among others.

Umar-Farouq was the pioneer Minister of Humanitarian Affairs, Disaster Management and Social Development. She was appointed by former President Muhammadu Buhari in July 2019 as the youngest cabinet member.

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Her work with Buhari dates back to his days as the leader and presidential candidate of the defunct Congress for Progressive Change when she was the national treasurer of the party and later the national treasurer of the All Progressives Congress.

She was later appointed minister in 2019 by President Buhari.

The EFCC document revealed, “Between 2018 and 2023, the subject (contractor ) received the sum of N37,170,855,753.44 from the coffers of the Federal Government linked to the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

“The monies were sent to 38 bank accounts domiciled in five legacy commercial banks. The suspect transferred N6,746,034,000.00 to Bureau De Change Operators, N540,000,000.00 withdrawn in cash, N288,348,600.00 used to purchase cars, and used N2,195,115,000.00 to purchase choice properties within Abuja and Enugu State.

“Fifty-three companies were traced to the suspect. He used 47 of the companies to lift Federal Government contracts amounting to N27,423,824,339.86. He is associated with 143 bank accounts in 12 commercial banks in which 134 of the 143 accounts are corporate accounts linked to different companies.”

In 2020, the Independent Corrupt Practices and Other Related Offences Commission said it uncovered N2.67bn meant for the ministry’s school feeding programme in private bank accounts.

The former ICPC Chairman, Prof Bolaji Owasanoye, disclosed that the commission unravelled N2.67bn in personal accounts, being payment made to some federal colleges for school feeding during the COVID-19 lockdown in 2020.

Other discoveries by the ICPC include 18 buildings, 12 business premises and 25 plots of land. Owasanoye said under the Open Treasury Portal review carried out between January and August 15, 2020, of the 268 Ministries, Departments and Agendas, 72 had cumulative infractions of N90m.

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The former ICPC chairman argued that the money was paid when children were not in school.

Despite requests by the Socio-Economic Rights and Accountability Project to Umar-Farouq to publish details and names of the suspects, the former minister failed to reveal their names.

Reacting to this, SERAP had written on its official Facebook page, “Following the disclosure by the ICPC that N2.67bn meant for school feeding during the COVID-19 lockdown ended up in private bank accounts, we’re calling on the Minister of Humanitarian Affairs, Disaster Management and Social Development of Nigeria, Sadiya Umar-Farouq, to immediately publish details of those suspected to be responsible, or face legal action.

“If the names are not immediately published, we’ll issue a freedom of information request to ensure that those involved are named and shamed.

“We’ll also pursue appropriate legal actions to hold suspected perpetrators to account, in the public interest.

“Diverting funds meant to feed school children (who are already disproportionately affected by corruption), especially during COVID-19, is a blatant violation of the rights to education, health, and dignity, as well as the government’s own COVID-19 transparency frameworks.

“Corruption in school feeding increases distrust in the government. The Federal Government must ensure that transparency and accountability measures are fundamental to all school feeding and other initiatives in the context of COVID-19, to ensure the children receive the support they need.”

When contacted over the development, the spokesperson for the EFCC, Dele Oyewale, neither confirmed nor denied the story.

Oyewale simply said, “No comments on that.”

EFCC uncovers N37bn fraud in federal ministry, indicts Buhari’s minister, contractor

(PUNCH)

Related Topics:EFCC federal ministry fraud

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BREAKING: Tinubu Allegedly Shakes Up Cabinet, Removes Wale Edun, Ahmed Dangiwa

Published

9 hours ago

April 21, 2026

Trends Admin

Wale Edun

BREAKING: Tinubu Allegedly Shakes Up Cabinet, Removes Wale Edun, Ahmed Dangiwa

President Bola Ahmed Tinubu has reportedly approved a minor cabinet reshuffle involving key changes in the Federal Executive Council (FEC), including the removal of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, alongside the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa.

The development was said to have been contained in a memo signed by the Secretary to the Government of the Federation (SGF), Senator George Akume, directing immediate transition processes across the affected ministries.

Wale Edun, Dangiwa Relieved of Ministerial Duties

According to the reported directive, Wale Edun has been asked to hand over duties at the Ministry of Finance and Coordinating Minister of the Economy. Similarly, Arc. Ahmed Musa Dangiwa is to vacate his position as Minister of Housing and Urban Development.

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The memo reportedly instructed that all handover processes be concluded on or before close of business on Thursday, April 23, 2026, ensuring a smooth administrative transition within the affected ministries.

Succession Arrangements and Ministerial Changes

The document further stated that Mr. Taiwo Oyedele has been named as the incoming Minister of Finance and Coordinating Minister of the Economy, following Edun’s exit.

In the housing ministry, Dr. Muttaqha Rabe Darma has reportedly been nominated as Minister-designate for the Ministry of Housing and Urban Development, pending formal confirmation procedures. Until then, Dangiwa has been directed to hand over to the Minister of State within the ministry.

Presidency Explains Reason for Reshuffle

Explaining the development, SGF George Akume was quoted as saying the changes are aimed at improving cohesion, synergy in governance, and economic delivery under the administration’s Renewed Hope Agenda.

He added that President Tinubu acted within his constitutional powers under Sections 147 and 148 of the 1999 Constitution (as amended), emphasizing that cabinet adjustments remain part of ongoing efforts to improve governance efficiency.

Presidential Appreciation and Next Steps

The memo also reportedly conveyed President Tinubu’s appreciation to outgoing ministers for their service to the nation, while wishing them success in their future engagements. It further indicated that the President assured Nigerians and cabinet members that government reinvigoration efforts will continue periodically.

BREAKING: Tinubu Allegedly Shakes Up Cabinet, Removes Wale Edun, Ahmed Dangiwa

News

Power Firm to Hold Virtual Stakeholder Meeting on Rainy Season Electrical Safety

Published

11 hours ago

April 21, 2026

Trends Admin

Power Firm to Hold Virtual Stakeholder Meeting on Rainy Season Electrical Safety

A power distribution company has announced plans to hold its April Virtual Stakeholder Engagement aimed at educating customers on safety measures during the rainy season.

In a notice issued to customers, the company said the virtual session would focus on the dangers associated with exposed electrical wires, flooded installations, and the increased risk of electric shock that often accompanies heavy rainfall.

The engagement, scheduled for Thursday, April 23, 2026, from 11:00 a.m. to 1:00 p.m., will be held via Microsoft Teams, allowing participants to join remotely.

According to the company, the initiative is part of efforts to promote public safety and reduce electricity-related accidents during the rainy season, when infrastructure is more vulnerable and risks are heightened.

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Beyond safety concerns, the session will also provide practical tips to help customers navigate the season safely, including guidance on energy efficiency to reduce consumption and costs.

The company further disclosed that it would share updates on its waste-management support initiatives targeted at public schools, as part of its broader corporate social responsibility programmes.

Customers and other stakeholders are encouraged to participate in the session to gain valuable insights and contribute to discussions aimed at improving safety and sustainability in communities.

The company reiterated its commitment to customer welfare, urging the public to remain vigilant and adhere to recommended safety practices during the rainy season.

Power Firm to Hold Virtual Stakeholder Meeting on Rainy Season Electrical Safety

News

NERC: Only 15 States Fully Regulating Electricity Markets Under New Law

Published

17 hours ago

April 21, 2026

Trends Admin

Nigerian Electricity Regulatory Commission (NERC)

NERC: Only 15 States Fully Regulating Electricity Markets Under New Law

Twenty-one states, including Rivers State and Kano State, have yet to assume full regulatory control of their electricity markets nearly three years after the enactment of the Electricity Act 2023, even as 15 states have successfully transitioned to independent electricity regulation under Nigeria’s decentralised power framework.

The Nigerian Electricity Regulatory Commission (NERC) confirmed that the 15 states that have completed the transition now operate their own electricity markets, handling tariff regulation, licensing, investment promotion, and consumer protection within their jurisdictions.

The reform is part of the broader implementation of the Electricity Act 2023, which decentralises Nigeria’s power sector by empowering states to regulate generation, transmission, and distribution within their territories after meeting legal and institutional requirements.

15 states now operating independent electricity markets

According to NERC, 15 states have fully completed the transition process and are now independently regulating their electricity sectors. These states include Enugu, Ekiti, Ondo, Imo, Oyo, Edo, Kogi, Lagos, Ogun, Niger, Plateau, Abia, Nasarawa, Anambra, and Bayelsa.

The commission explained that the transition began in October 2024 with Enugu and Ekiti, followed shortly by Ondo. The process gained momentum in 2025, with states such as Lagos, Oyo, Ogun, and Edo completing their transitions. More recent entries include Nasarawa, Anambra, and Bayelsa in early 2026.

Under the new structure, these states now oversee intrastate electricity regulation, including issuing licenses, enforcing technical standards, setting local tariffs, and protecting electricity consumers.

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21 states yet to complete transition

However, 21 states are yet to complete the process of taking over regulatory control of their electricity markets. These include Adamawa, Akwa Ibom, Bauchi, Benue, Borno, Cross River, Delta, Ebonyi, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kwara, Osun, Rivers, Sokoto, Taraba, Yobe, and Zamfara.

Energy experts say the delay could slow down the expected benefits of the Nigeria electricity sector reform, including improved power supply, localised tariff structures, and increased investment in mini-grids and embedded generation projects.

They also warn that uneven implementation could widen disparities in electricity access and investment across states.

What the Electricity Act 2023 provides

Under the Electricity Act 2023, once a state completes its transition, it establishes its own electricity regulatory commission responsible for overseeing all intra-state electricity operations.

The national regulator, NERC, retains oversight of interstate electricity trade and the national grid system.

State regulators are expected to drive local electricity market development by encouraging private investment, supporting renewable energy projects, and ensuring service quality standards across distribution networks.

However, NERC noted that some states that have declared transition still need to fully operationalise their regulatory institutions.

Federal government push for decentralisation

The Federal Government has repeatedly encouraged states to accelerate adoption of the reform, describing decentralisation as essential to solving Nigeria’s long-standing electricity challenges.

Minister of Power, Adebayo Adelabu, said Nigeria’s size and population make centralised electricity management ineffective.

He explained that the Electricity Act allows states to participate in all segments of the power sector value chain, including generation, transmission, distribution, and supporting services.

Adelabu also stressed the importance of collaboration between federal and state regulators to ensure alignment between wholesale and retail electricity markets.

He added that state participation is especially critical in off-grid electrification and rural power projects, where flexible local regulation can improve access and attract investment.

Outlook for Nigeria’s power reform

Stakeholders say the success of Nigeria’s electricity decentralisation reform will depend on how quickly the remaining 21 states establish functional regulatory frameworks and fully activate their electricity markets.

They warn that delays may limit investment inflows and slow down efforts to improve electricity supply reliability across the country.

Despite the uneven progress, the Electricity Act 2023 remains one of the most significant structural reforms in Nigeria’s power sector, aimed at creating a more competitive and efficient electricity market.

NERC: Only 15 States Fully Regulating Electricity Markets Under New Law