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HomeLatestEFCC Alleges Misappropriation of N2.187 Trillion by Former Governors in Last 25...

EFCC Alleges Misappropriation of N2.187 Trillion by Former Governors in Last 25 Years

Ismail Abdulazeez Mantu, Reporting

The Economic and Financial Crimes Commission (EFCC) has accused a significant number of former governors of Nigeria of involvement in the misappropriation, embezzlement, or laundering of approximately N2.187 trillion over a span of 25 years.

This revelation sheds light on the magnitude of corruption within the Nigerian politcal system.

The EFCC’s investigation has unearthed a web of alleged financial malfeasance involving 58 ex-governors from various regions of the country. These allegations represent a grave betrayal of public trust and a stark reminder of the challenges facing Nigeria’s governance structures.

The accused ex-governors span multiple administrations since the restoration of civilian government on May 29, 1999. Among them are prominent political figures whose alleged involvement in corruption has shocked the nation.

The list includes names like late Abubakar Audu, TA Orji and sons, Yahaya Bello, Chimaroke Nnamani, Kayode Fayemi, Ayo Fayose, and many others.

The alleged amounts in question are staggering, ranging from millions to billions of Naira. Some of the accused individuals and their alleged misappropriated amounts include:

TA Orji and sons (N551 bn)
Yahaya Bello (N80.2 bn)
Kayode Fayemi (N4bn)
Ayo Fayose (N6.9 bn)
Danjuma Goje (N5bn)
Orji Uzor Kalu (N7.6bn)
Peter Odili (N1000 bn)
Ibrahim Shekarau (N950m)
Isa Yuguda (N212bn)
Mohammed Abubakar (N8.5bn)

This revelation has significant implications for Nigeria’s socio-economic development. The N2.187 trillion allegedly looted by these former governors is equivalent to the combined budgets of Lagos State and the South-East states for the year 2024. Such colossal sums, if redirected towards development projects, could have had a transformative impact on infrastructure, education, healthcare, and other essential services.

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