The Economic and Financial Crimes Commission (EFCC) claims to have recovered approximately N39.8 billion from the N44.8 billion that the National Coordinator of the National Social Investment Program (NSIPA), who is suspended, is accused of transferring from the government account (NSIPA).
This came as the EFCC is currently investigating three second generation banks for their complicity in the illegal transfers of the funds meant for poverty alleviation and other intervention schemes of the current government.
Recall that Halima Shehu, who was appointed by President Bola Tinubu as the national coordinator of NSIPA, was recently suspended from office.
According to the New Telegraph’s report, Shehu, in concert with a Director of Finance allegedly signed off N44 billion from government account within five days in December last year.
Competent sources said the year-end transfer of the N44. 8 billion unspent funds was a regular practice in the Ministry, but discovered this time by Betta Edu, who immediately reported the incident to the EFCC.
The former NSIPA boss allegedly transferred the funds to some individual accounts and companies through some commercial banks without any approval from the President or the Federal Executive Council and the Minister.
Recall that activities of the Ministry under former Minister, Dr. Sadiya Umar-Farouq, came under serious criticism over multiple cases of fraud being investigated in respect of government’s intervention schemes like School Feeding, Conditional Cash Transfer and N-Power.
Last year, over N10 billion was reportedly recovered from various consultants at the resumption of Betta Edu in the Ministry.