EFCC Accused Of Pocketing N1.7Bn Stolen Funds Recovered From Corrupt Officials

The Economic and Financial Crimes Commission, EFCC and its chairman, Ibrahim Lamorde have yet again been embroiled in a financial scandal and this time, both have been accused of refusing to return to government accounts, N1.7 billion recovered from corrupt public officials.

The Chief Executive Officer, Panic Alert Security System, George Uboh, while appearing before the Senate Committee on Ethics, Privileges and Public Petition on August 26, had disclosed how the Chairman of the EFCC, Ibrahim Lamorde, allegedly diverted N2tn it recovered from ex-public officials.

In a chat with journalists yesterday, Uboh said that the commission recovered over N1.7bn from 15 companies for the Federal Inland Revenue Service, FIRS, but failed to remit same to the agency.

“FIRS in its submission denied receiving any payments/transfers from EFCC in respect of the said companies.” he said.

Uboh presented evidence in form of documents that showed funds were recovered between 2010 and 2011.

The security expert said members of the public interested in getting details of his earlier N2tn seized by EFCC but unremitted to government should download the documents from his website: www.pasecng.com.

Uboh also expressed his readiness to expose the country’s former presidents, vice presidents, current and ex-governors as well as the current administration over numerous shady practices.

The breakdown of the N1,767,594,842.65 said to have been recovered by the EFCC and list of the 15 companies include Zakhem Construction Limited — N401m; Daewoo Nigeria Limited — N208m; WAPCO — N311m; Mikano International Limited —N16m; Protea Hotel, Apo Apartments — N10m; Reiz Continental Hotels — N32m; Coscharis Motors Limited — N130m; and Elizade Nigeria Limited — N555m.

Others are ITCC Technical Limited, Kaduna — N47m; Grand Ibro Hotel, Abuja — N14m; Efab Properties, Abuja — N19m; Le Meridien Hotel, Port Harcourt – N10m; Northern Nigeria Flour Mills Plc – N2.7m; Ni’ Ima Guest Palace – N2.8m; and Okomu Oil Palm Plc – N5m.