N44bn fraud: EFCC freezes N30bn moved from NSIPA accounts

The Economic and Financial Crimes Commission (EFCC) has taken action in response to the movement of N44 billion from the accounts of the National Social Investment Programme Agency (NSIPA). 

Specifically, the EFCC has frozen N30 billion of the transferred funds. This development occurred shortly after the arrest and detention of Halima Shehu, the National Coordinator of NSIPA, who was suspended by President Bola Ahmed Tinubu.

An anonymous source disclosed that the EFCC has frozen multiple accounts connected to NSIPA officials as part of an ongoing probe into the suspicious fund transfer. 

The anti-graft agency conducted extensive interrogation and profiling of accounts, confirming the unauthorized movement of N44 billion from NSIPA’s account to various private and corporate accounts.

Halima Shehu and NSIPA’s former Director of Finance and Accounts, Bwai Adamu Hamza, who retired in December, underwent questioning by a special team on Wednesday. 

The EFCC, in its investigation, tracked and recovered N30 billion linked to the fraudulent transactions.

The commission had previously intercepted and seized N17 billion, and within 24 hours, an additional N13 billion was traced and frozen in various accounts. 

The N44 billion was allegedly moved suspiciously from NSIPA’s accounts to private and corporate accounts associated with individuals acting as fronts.

In a related development, Sadiya Umar-Farouq, the former Minister of Humanitarian Affairs, Disaster Management, and Social Development, who supervised Halima Shehu, refused to honor an EFCC invitation regarding alleged money laundering of N37,170,855,753.44 during her tenure. The former minister denied the accusations.