The Economic and Financial Crimes Commission (EFCC) has brought to light a staggering sum of N37.1 billion, reportedly laundered within the Ministry of Humanitarian Affairs under the leadership of former minister Sadiya Umar-Farouk.
In exclusive details obtained during the ongoing investigation, Sunday PUNCH revealed that the funds were transferred from the Federal Government’s coffers to 38 different bank accounts held in five legacy commercial banks, associated with or connected to a contractor named James Okwete.
Upon receiving the funds, Okwete purportedly channeled N6,746,034,000.00 to Bureau De Change Operators, withdrew N540,000,000.00 in cash, acquired luxury cars amounting to N288,348,600.00, and invested in opulent residences in Abuja and Enugu State totaling N2,195,115,000.00.
The investigation traced fifty-three companies to Okwete, with 47 of them allegedly utilized to secure Federal Government contracts valued at N27,423,824,339.86.
Furthermore, Okwete is reportedly linked to 143 bank accounts across 12 commercial banks, of which 134 are corporate accounts tied to various companies. The EFCC’s revelations shed light on a complex web of financial transactions that have prompted heightened scrutiny.
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