JUST IN: EFCC Recovers N30 Billion in Money Laundering Probe of Suspended Minister, Betta Edu

The Economic and Financial Crimes Commission (EFCC) has disclosed significant progress in its investigation into the alleged money laundering case involving the suspended Minister of Humanitarian Affairs, Betta Edu, and the ministry....READ FULL ARTICLE

According to the EFCC, it has recovered N30 billion in connection with the case and is currently probing 50 bank accounts.

In a bulletin titled “EFCC Alert,” EFCC Chairman, Ola Olukoyede, emphasized that the recovered funds have been deposited into the Federal Government’s treasury. Olukoyede stressed the importance of following due process in the investigation, noting the complexity of the case and the need for thoroughness.

The bulletin further stated that the investigation, which commenced less than six weeks ago, is progressing diligently. Olukoyede assured Nigerians of the commission’s commitment to fighting corruption and urged patience as the investigation unfolds.

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The case gained public attention after President Bola Tinubu suspended Dr. Betta Edu on January 8 and ordered a comprehensive probe into the alleged transfer of N585.189 million meant for vulnerable groups in Akwa Ibom, Cross River, Ogun, and Lagos states into a private account.

“Update on Betta Edu investigation. We have laws and regulations guiding our investigations. Nigerians will also know that they are already on suspension, and this is based on the investigations we have done, and President Bola Tinubu has proved to Nigerians that he is ready to fight corruption.

“Moreover, with respect to this particular case, we have recovered over N30 billion, which is already in the coffers of the Federal Government.

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“It takes time to conclude investigations; we started this matter less than six weeks ago. There are cases that take years to investigate. There are so many angles to it. And we need to follow through some of the discoveries that we have seen.

Nigerians should give us time on this matter; we have professionals on this case and they need to do things right. There are so many leads here and there.

“As it is now, we are investigating over 50 bank accounts we have traced money into. That is no child’s play. That’s a big deal. Then you ask about my staff strength. And again, we have thousands of other cases that we are working on. Nigerians have seen the impact of what we have done so far, by way of some people being placed on suspension and by way of the recoveries that we have made.

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“You have seen that the programme itself has been suspended. We are exploring so many discoveries that we have stumbled upon in our investigation.

“If it is about seeing people in jail, well let them wait, everything has a process to follow. So Nigerians should wait and give us the benefit of the doubt,”the EFCC document reads.

Nigerians have been eagerly awaiting updates on the case, and the EFCC’s latest revelation sheds light on the significant strides made in uncovering financial irregularities and recovering misappropriated funds....READ FULL ARTICLE

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