NSIPA, Zenith Bank, Others Under EFCC probe For Alleged Billions Fraud

In a whirlwind of scandal and suspicion, the suspended Minister of Humanitarian Affairs, Betta Edu, finds herself at the center of a storm as she undergoes interrogation by the Economic and Financial Crimes Commission (EFCC) over a staggering #585 million scandal. Alongside her, Halima Shehu, the embattled Coordinator and Chief Executive Officer of the National Social Investment Programme Agency (NSIPA), faces scrutiny for an alleged #44 billion fraud.


Zenith Bank Plc Chairman, Jim Ovia

According to an EFCC source, top executives from Zenith, Providus, and Jaiz banks are currently facing intense questioning in connection with the uncovered #44 billion fraud and the #585 million scandal involving Edu and Shehu. Both individuals have reportedly disclosed new information during their interrogations, indicating a deeper layer to the ongoing investigation.

The unfolding saga took a dramatic turn when President Bola Tinubu suspended Edu, paving the way for a comprehensive investigation into her activities within the ministry. The EFCC’s involvement stems from Tinubu’s directive for a thorough probe, underscoring the gravity of the allegations against the suspended minister.


Providus Bank Boss Walter akpani

Edu’s predecessor, Sadiya Farouq, also faced the EFCC’s scrutiny over allegations of laundering #37.1 billion during her tenure. Meanwhile, Shehu, who had previously been arrested in connection with the #44 billion money laundering case, now faces daily interactions with EFCC interrogators following her recent release. The alleged misappropriation of funds, totaling billions, raises serious concerns about the integrity of the Ministry of Humanitarian Affairs and its affiliated agencies.
As investigations continue, the EFCC remains steadfast in tracing the intricate web of suspicious transactions, highlighting the complexities surrounding governmental interventions and the imperative of accountability.
In a statement, EFCC spokesperson Dele Oyewale emphasized the ongoing nature of the investigation, refraining from quantifying the extent of the transactions implicated. With the Ministry of Humanitarian Affairs and its agencies under the microscope, the pursuit of truth and justice remains paramount in restoring public trust and upholding the rule of law.
(Source: The PUNCH)


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