Hayatu Ahmed, a Chief Superintendent with the Economic and Financial Crimes Commission (EFCC), has disclosed how Ahmed Idris, the suspended Accountant-General of the Federation, exploited government financial systems to divert public funds for personal benefit.
Fraudulent Diversion of Funds
According to Ahmed, Idris compromised three critical government financial systems:
- Treasury Single Account (TSA)
- Government Integrated Financial Management Information System (GIFMIS)
- Integrated Payroll and Personnel Information System (IPPIS)
Idris, along with Godfrey Olusegun Akindele and Mohammed Kudu Usman, is currently facing trial for allegedly embezzling ₦109 billion.
Court Testimony
At a Federal Capital Territory (FCT) High Court session on Thursday, Ahmed revealed EFCC findings showing that funds from the TSA, GIFMIS, and IPPIS were used to acquire properties such as the Gezawa Exchange Limited, Gezawa Integrated Farms, and Kano City Mall.
Ahmed stated, “We invited several individuals linked to transactions with Gezawa Commodity and Exchange Limited. One such individual, Baita Ibrahim Kura, a Bureau de Change operator, admitted to transferring ₦208 million into the Gezawa Commodity Market account at Jaiz Bank.”
Further investigations uncovered that Ibrahim paid ₦866 million to Marsc Construction Limited for constructing the Gezawa Commodity Market and Exchange Limited.
Oil-Producing States’ Funds Misused
Ahmed also detailed how funds intended for nine oil-producing states were diverted. The Federal Account Allocation Committee (FAAC) had determined that $2.2 billion was due to these states from the Excess Crude Account, to be disbursed quarterly over five years. However, 11.5% of this amount (₦44.7 billion) was allocated to public officials to facilitate payments.
Ahmed noted that one of the defendants, Akindele, presented his company as a consultant and received ₦84.39 billion into his accounts. Additional payments of ₦21 billion were deposited in February 2021, bringing the total to ₦94.39 billion.
Distribution of Funds
The diverted funds were distributed among several groups:
- Revenue Mobilisation Allocation and Fiscal Commission (RMAFC): ₦18.8 billion was allegedly collected by Peace Akomas.
- AGF Group: Received ₦18.01 billion.
- Finance Commissioners from Oil-Producing States: ₦21.4 billion, converted to U.S. dollars by Akindele and handed to Akomas.
- Yari Group: ₦17.15 billion transferred to Fimex Professional Services, linked to Abdulaziz Yari, former Zamfara governor.
Akindele retained ₦8.9 billion, converting ₦4.29 billion into U.S. dollars as “appreciation” for the consultancy contract, while ₦4.6 billion remained with him.
Traced Properties
Ahmed disclosed that properties purchased with the embezzled funds were located in Abuja, Kano, and Niger states.
The trial continues as the EFCC presents more evidence to substantiate the allegations against the defendants.
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Opeoluwa Benson – Content Researcher
