Toba Owojaiye reporting
Abuja , Nigeria
In a significant development, the Economic and Financial Crimes Commission (EFCC) is currently interrogating Chief Executive Officers and Managing Directors of Zenith Bank, Providus Bank, and Jaiz Bank in connection with an alleged ₦44 billion fraud uncovered in the Ministry of Humanitarian Affairs and Poverty Alleviation.
Truth Live News can confirm that at 4.55 pm on Tuesday, senior bank executives are reportedly questioned at the EFCC’s headquarters in Jabi, Abuja. The investigation is linked to the suspended Minister of Humanitarian Affairs, Betta Edu, who is currently held and undergoing interrogation over a ₦585 million scandal.
Simultaneously, Halima Shehu, the embattled Coordinator and CEO of the National Social Investment Programme Agency within the ministry, is being probed for an alleged ₦44 billion fraud.
An EFCC source confirmed the ongoing probe, stating that Zenith, Providus, and Jaiz banks are being questioned over the ₦44.5 billion fraud, involving Edu and Shehu. The CEOs and MDs of these banks are providing insights into the complex financial dealings under scrutiny.
The suspended minister, Betta Edu, was suspended by President Bola Tinubu, following an alleged ₦585 million cash transfer saga. The EFCC, in compliance with Tinubu’s directive, initiated a comprehensive investigation into Edu’s activities in the ministry, leading to her current interrogation.
Sadiya Farouq, Edu’s predecessor, faced EFCC interrogators on Monday, responding to allegations of laundering ₦37.1 billion during her tenure as a minister in former President Muhammadu Buhari’s cabinet. This development adds complexity to the unfolding investigation within the ministry.
Halima Shehu, arrested earlier in connection with the ₦44 billion money laundering, has been released but remains subject to daily meetings with EFCC interrogators. The funds in question were suspiciously moved from the National Social Investment Programme Agency’s accounts into private and corporate accounts associated with individuals acting as fronts.
In a telephone interview, EFCC spokesperson Dele Oyewale clarified Shehu’s status, emphasizing ongoing investigations into the intricate financial transactions. He addressed the complexity of tracing transactions due to the substantial amount of money involved in the ministry’s interventions, refraining from providing specific figures at this stage.
The unfolding revelations from the suspended minister, the NSIPA Coordinator, and the ongoing investigations show the gravity of the alleged fraud within the Ministry of Humanitarian Affairs and Poverty Alleviation. As the EFCC delves deeper into these financial irregularities, the nation awaits further details on the extent of the scandal and its potential ramifications.