Ini Ekott
May 22, 2011 05:15PM
print email


Federal lawmakers appear headed for a confrontation with the leadership of the Economic and Financial Crimes Commission (EFCC) over fresh disclosures that about N50 billion of looted public funds recovered from past government officials by the EFCC can still not be located, several years after the monies were recovered.

A formal investigative report on the missing funds was launched by the House of Representatives nearly six months ago, and is expected to be released this week — just before the end of the current legislative session.

Key members of the house ad hoc committee on the investigation who spoke to NEXT have hinted that there has been no revelation from the anti-graft body that is significantly different from its past claim that the N20 billion recovered from the former Inspector General of Police (IGP), Tafa Balogun, and anotherN30 billion from other officials, could not be traced.

“We have sent them a query and they responded still denying that the funds are with them,” said a member of the committee, who refused to be named because the report has not yet been submitted.

The newest of the details though, according to another member, is that out of the total N20 billion recovered from the convicted police boss, the EFCC has, for the first time, argued that the sum was actually N2 billion and not N20 billion. The lawmaker said based on the information made available to the committee, the commission did not refute that N2 billion is in its coffers. “I believe the money is with them,” the source added.

The admission that the agency is in possession of the sum - although it is meagre given that N50 billion was the subject of the House investigation - appears to be a positive step when placed in the context of the many years during which the commission has summarily denied knowledge of the whereabouts of the missing funds.

Even after the latest disclosure last week to NEXT, EFCC spokesperson, Femi Babafemi insisted that issues of the commission keeping records of recovered loots have not arisen at all.

“The EFCC does not keep recovered money,” Mr Babafemi said.

In many ways, the wide ranging controversy - denials and counterclaims over the so-called missing money which is nearly the size of the budget of some states for a full year — remains a puzzling episode in the nation’s fight against financial crimes. On the one hand, the anti-corruption body recoups stolen public funds from offenders in a widely acclaimed feat, and on the other hand, the commission stands accused of not remitting the cash to its rightful destination, although it publicly claims that it did.

Police denies receiving funds

The former IGP’s case, which has now lingered for many years after he was said to have paid out N20 billion to the anti-corruption agency following a plea bargain, stands as a reference point.

Mr Balogun and two other unnamed officials were convicted in 2004 under the former chairman of the EFCC, Nuhu Ribadu. Upon conviction, Mr Balogun entered into a well-criticised plea- bargain that required that he part with N20 billion of the money traced to him, for a reduced sentence.

The commission further announced that it raised N30 billion from the sale of properties belonging to two other corrupt public office holders.

Several years after the payment, the whereabouts of the money, totalling N50 billion in all, according to the House committee on Police Affairs chairman, Abdul Ningi, remains unknown amid several allegations and denials.Despite several correspondence between the house police affairs committee, the EFCC and the police, the location of the funds remained unclear according to the testimony Mr Ningi gave when the matter came up in the house late last year.

While the commission, now under a new boss, Farida Waziri, maintained a sweeping innocence on the matter, some of its officials at times laid the blame, not surprisingly, at Mr Ribadu’s feet.

Mr Ribadu has, in past interviews, denied keeping the funds. And so has the police, which is now under its third boss after the removal of Mr Balogun.

In a reply to the House of Representatives inquiry into the missing money, former IGP, Mike Okiro, who succeeded Mr Balogun, said that only the EFCC was in the best position to state the actual amount recovered. He was emphatic that the amount was not remitted to the police purse.

On December 8, 2010, in a motion whose wordings clearly countered the repeated public claims of the anti-graft agency, Mr Ningi drew the attention of the house to the matter, arguing that the funds should be located and be made part of the 2011 appropriation.

The house said that while the police had stated “officially that they had not received the N20 billion,” the EFCC on the other hand “confirmed that the monies had neither been credited to the Nigeria Police nor into the federation account”.

In clear terms, the house noted that failure was a “violation of the provision of section 162 of the constitution,” and after six months of probing, a six-member panel headed by Ehiogie West-Idahosa, is expected to submit a report before the lawmakers wrap up their session next week.

What is the figure?

Despite the investigation, the EFCC spokesperson, Mr Babafemi, insisted on Friday that “recovered money is paid into designated government accounts”.

Mr Idahosa, a third-term lawmaker from Edo State, confirmed to NEXT that the report would be submitted this week. “We have just had to tidy up the few things,” he said, referring to the electioneering, the corruption uproar and speakership zoning crisis that the house has been dealing with since resumption.

“By next week we should have something to report back, to the house,” he said.

The unofficial disclosure, which many members confirmed, of claims by the EFCC that the amount recovered from the former IGP, Mr Balogun, was not N20 billion butN2 billion, now seems set to complicate further the already contentious matter.

The house is itself burdened by its own winternal corruption charges and might not be in a good stead to discuss this major national embarassment.

“It was public knowledge that they announced N20 billion,” said Halims Agoda, who helped push the call for investigation. “Claiming N2 billion now is something we would like to know when we resume next week.”

Wonderful,N50 billion just disappears into thin air?  Funny,i am not even shocked.How about they start looking in OBJ's farm,i am sure some of those billions would have trickled there.

Nigeria :The most vividly and shamelessly corrupt nation in human history.The ultimate giant of corruption.

This kinda news just makes me sick. I can only imagine the extent this stolen amount can transform the nation and people are still sufferring. SHAME

Shame! Shame on Nigerian leaders. I mean, what is that woman still doing there?Somebody should just kick her out.Nonsense country

Na the breeze of FRESH AIR carry the 50 billion - the thing don land for backyard.

chopulation don bring - abeg guys drinks and food are on me

must all newz abt 9ja be bad newz?
GOD pls help our country.

I wonder why the officials all appear to be so shocked, they probably all know who was "put in charge" of monitoring the money; I can assure everyone that the investigation will end with the query that was sent, probably only sent because they haven't received their own share of the loot  , Nigeria we hail thee

ask obj

blacksta:

Na the breeze of FRESH AIR carry the 50 billion - the thing don land for backyard.

chopulation don bring - abeg guys drinks and food are on me

This one pass breeze o, na tornado carry the thing land for your backyard.

I BELIEVE IT'S RIGHT TIME FOR NIGERIAN TO WAKE-UP. I'M JUST TIRED OF THE WHOLE THING IS THIS COUNTRY.I'M HERE THIS AFTERNOON DON'T KNOW WHAT TO EAT SINCE MORNING AND READING SUCH A SILLY STUFF HERE ABOUT THE MISSING OF SUCH A HUGE AMOUNT OF MONEY.

FOR ME,THE BEST WAY TO STOP ALL THIS IS FOR US TO BE USING SHARIAH LAW IN THIS COUNTRY AND ANYBODY CAUGHT WITH MIS-MANAGEMENT OF $$ SHOULD BE HANG WITH ANY STUPID COURT ORDER .

I HAVE TO SLEEP SMALL.

N50 billion? good lord!Good news is that if they want to find out where it is they will.

Abagworo:

Ini Ekott
May 22, 2011 05:15PM
print   email   


Federal lawmakers appear headed for a confrontation with the leadership of the Economic and Financial Crimes Commission (EFCC) over fresh disclosures that about N50 billion of looted public funds recovered from past government officials by the EFCC can still not be located, several years after the monies were recovered.

Why the sudden interest by the Federal Law makers?
Could it be because they want an increase in their allowance and want to force the Executive arm of Government to bow to their demand by force?.

This situation will turn to a case of dog-eat-dog.

Shame! Shame!! Shame!!!

see them, they can't get that bailout money they so desperately looking for,

so they start digging ", haysss, wey that tafa money sef, ". ", who carry am?, na you, that guy? which one?, "

@Skii

You must be a mind reader

We keeping deluding ourselves that we are not a failed state .

Which institution works properly in Nigeria?

We the Nigerian masses have the power to  call our rulers to order, but we choose to do nothing.

Accepting with out protest, the recent results of rigged  2011 elections is a case in point

Whats our business, why disturbing us with this news! We dey there d time wey dem dey count the billions ? Abeg, make una free us make we dey live our lives with thousands and hundreds wey we dey get. Public Disturbance! Mtshewwwwwwwwwwwwwww!

hmmm I guess the said money is back with Tafa,Obj,ribadu , i dey laugh

[img]http://s07.flagcounter.com/count/FmB/bg=FFFFFF/txt=FFFFFF/border=FFFFFF/columns=1/maxflags=1/viewers=3/labels=1/[/img]
[img]http://2.s07.flagcounter.com/count/FmB/bg=FFFFFF/txt=FFFFFF/border=FFFFFF/columns=1/maxflags=1/viewers=3/labels=1/pageviews=0/labels=1[/img]

igbsam:

Whats our business, why disturbing us with this news! We dey there d time wey dem dey count the billions ? Abeg, make una free us make we dey live our lives with thousands and hundreds wey we dey get. Public Disturbance! Mtshewwwwwwwwwwwwwww!

Our?! Please speak for yourself alone. Others do not share this imbecilic point of view. We pay taxes so we deserve to know where our money goes to.

When you grow up and start paying taxes, you'll feel the same way.

can Goodluck/Sambo ticket explain this for us. what can they say knowing how much that was spent on their election.
anyways, the fresh air is about new ways of stealing public funds.
someone mentioned the word - SURPRISED - since when pls? we missed a whole ship seized by the federal govt and nobody was surprised what more money.
i passed through ottah farm a couple of days back and i saw something covered with trampoline so am sure is the money.

Corruption! wer my share?

Story story? Story!,

When Late yardua called RIBAU THE ACN PRESIDENTIAL CANDID IN THE 2011 ELECTION TO COME AND EXPLAIN HOW HE SPEND ALL THE MONEY RECOVERED YOU PEOPLE SAID EHH WHY THE MAN IS INNOCENT WAZIRI INVITED HIM TOO HE RAN AWAY AND LATER RETURN TO CONTEST UNDER ACN ,NOW YOU EVIL MEN HAS COME BACK TO TALK.

[size=15pt]nigeria is corruption and corruption is nigeria[/size]

gernded:

When Late yardua called RIBAU THE ACN PRESIDENTIAL CANDID IN THE 2011 ELECTION TO COME AND EXPLAIN HOW HE SPEND ALL THE MONEY RECOVERED YOU PEOPLE SAID EHH WHY THE MAN IS INNOCENT WAZIRI INVITED HIM TOO HE RAN AWAY AND LATER RETURN TO CONTEST UNDER ACN ,NOW YOU EVIL MEN HAS COME BACK TO TALK.

He served under the PDP and that's the same party lead by GEJ now, The party hasn't changed so getting an explanation shouldn't be difficult. Abeg no dey fall Naija hand for Ghana cos this your English na war o

Please dear posters what is the news about this thread People are just shouting oh heaven after how many years The 20billion or 50billion is it today it happened If any one could remember how many time I had asked and pass comment about this but pro Ribadu did not allow me to breath.

Please why would people ask Obj?? Is it Obj alone that should be ask??What about Mr Saint Ribadu who was the EFCC Chairman then and who was the one that recovered the looting cash?? How many time as people asked Ribadu to come and explain? National assembly raised the issue severally for Mr Saint Ribadu to come and tell Nigeria what he knew about the money did he come?? Mr Farida Waziri has called upon Saint Ribadu to come and explain what he knew about this money did he honour it. So is it Obj was shielding him or tells him not to honour invitations??

Plssss we just love leaving reality and chase about shadow I expected people to say Let Ribadu and whoever involve in Tafa stolen cash to come forward and explain to Nigeria and the so call Saint Ribadu should please tell us where is the account he said the money was deposited? But people are here mentioning Obj names whereas the main man is regarded as saint and best candidate for presidency isnit?? Good enough lets keep on chasing the wind and leave the reality behind . God bless.

jmslimx:

ask obj

You are definitely in the 'spirit' my broda!

oh!
chei!
Aw much i long2b a top govt.official,
so i can take part in sharing our money!

Thank God Tafa is Yoruba, Veneral Burhari keep on whining, He'll be ur Commander in Chief or Thief, For the nxt four years, Ur bile will be very active till then, though.

Missing? Then it has not been recovered. They just exposed him

GenBuhari:

We keeping deluding ourselves that we are not a failed state .

Which institution works properly in Nigeria?

We the Nigerian masses have the power to  call our rulers to order, but we choose to do nothing.

Accepting with out protest, the recent results of rigged  2011 elections is a case in point

Gen. Buhari or 'Bugari' stop exposing your lack of proper assimilation of issues at-hand and becoming hysterical at the slightest post on Nairaland.We know you contested and lost in a keenly and fairly appraised elections by everyone even your broda's in the core Nothern states can attest to this.What concerns the undiscovered Tafa's loot with the just concluded elections Abi did you not contest the last two elections of 2003 & 2007 why is this one so painful is it because it is Jona and not Oby? Now you can flex your muscles killing innocent youth corpers, coward but you did not dare lift a finger when Oby rigged you out in the previous elections even in your local govt. Please accept your defeat or go and die peacefully in shame,abi na wetin sef?

vaLasce:

oh!
chei!
Aw much i long2b a top govt.official,
so i can take part in sharing our money!

Then corruption will never stop.