ICPC reportedly recovers N50 billion from the Ministry of Humanitarian Affairs under Sadiya Umar-Farouq’s tenure.
Headlinenews.news has learned that the Independent Corrupt Practices and Other Related Offences Commission (ICPC) successfully recovered N50 billion intended for vulnerable citizens during the tenure of the former Minister, Sadiya Umar-Farouq, from the Ministry of Humanitarian Affairs and Poverty Alleviation.
The substantial sum, which was at the brink of embezzlement, was retrieved by ICPC between July and August 2023 and subsequently deposited into the Central Bank of Nigeria (CBN).
According to The PUNCH, the funds faced a blockage during an attempt to transfer them into private bank accounts and were recovered by the ICPC, led by its former Chairman, Bolaji Owasanoye.
A reliable source revealed that the funds were then handed over to the Federal Government under the leadership of President Bola Tinubu.
“The funds were recovered as former President Muhammadu Buhari and Umar-Farouq were leaving office, and President Tinubu had yet to appoint a new humanitarian affairs minister.
“Upon the appointment of the now suspended Minister of Humanitarian Affairs, Betta Edu, President Tinubu directed the Accountant-General of the Federation to refund the money to the ministry as part of the Infrastructure Support Fund for the 36 states and the Federal Capital Territory to cushion the effect of the fuel subsidy removal.
“The refunded sum is part of the N44bn allegedly laundered in the National Social Investment Programme Agency, and the N585m Edu authorized for disbursement,” disclosed the source.
Another insider stated, “During the naira scarcity between late 2022 and 2023, the ICPC under Prof Owasanoye blocked and recovered the sum of N50bn from the Ministry of Humanitarian Affairs.
“The initial amount blocked and recovered was N32bn, but upon further investigation, another N18bn was blocked and recovered from the ministry. The ICPC found that the money was intended for the vulnerable and the poor in the country, which the ministry, under the former minister, Umar-Farouq, couldn’t distribute due to the currency shortage during the naira redesign period.
“The funds were deposited into the government’s coffers between July and August 2023. Some officials in the ministry attempted to disburse the funds into private accounts when the former minister was no longer active in office, and there was no new minister last year. The ICPC promptly blocked the money upon discovering the suspicious and fraudulent manner in which it was to be distributed, and successfully recovered it.
“After President Tinubu announced the Infrastructure Support Fund for the 36 states and the Federal Capital Territory to alleviate the impact of the fuel subsidy removal, the Federal Government allocated the money to the Humanitarian Affairs Ministry under Betta Edu, as the ministry in charge of poverty alleviation projects.”
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