Under former Humanitarian Affairs and Poverty Alleviation Minister Sadiya Umar-Farouq’s leadership, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) is alleged to have recovered N50 billion intended for persons in need.
Between July and August of 2023, the ICPC, led by its previous Chairman Bolaji Owasanoye, seized a substantial amount of money that was set to be embezzled and deposited it into the Central Bank of Nigeria (CB.N).
READ ALSO: Zenith Bank Explains EFCC Invitation Regarding Humanitarian Ministry Fraud Scandals
“The funds were recovered when former President Muhammadu Buhari and Umar-Farouq were leaving office, A source disclosed that the funds were subsequently handed over to the President Bola Tinubu-led Federal Government.
“President Tinubu, upon the appointment of the now suspended Minister of Humanitarian Affairs, Betta Edu, ordered the Accountant-General of the Federation to refund the money to the ministry as part of the Infrastructure Support Fund for the 36 states and the Federal Capital Territory to cushion the effect of the fuel subsidy removal.
The source stated, “The refunded amount is a portion of the N44 billion purportedly laundered in the National Social Investment Programme Agency, as well as the N585 million Edu authorised for disbursement.”
According to a different source, “the ICPC led by Prof. Owasanoye blocked and recovered the sum of N50 billion from the Ministry of Humanitarian Affairs during the naira scarcity between late 2022 and 2023.”
