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A shocking revelation has emerged from the Economic and Financial Crimes Commission (EFCC), indicating that the former National Coordinator of the National Social Investment Programme (NSIPA), Halima Shehu, allegedly embezzled a whopping sum of 44.4 billion Naira from the government account. According to the EFCC report, the purported misappropriation took place between December 27th and December 31st, 2023.
The siphoning was carried out in a most brazen manner, as Halima Shehu reportedly withdrew the funds from the NSIPA account in the Central Bank of Nigeria and transferred them to various unnamed accounts in different banks, including Zenith Bank, Providus Bank, Access Bank, among others. The former NSIPA boss allegedly went further to make illicit transfers to individual accounts and companies without any approval from the President or the Federal Executive Council. With a clear indication of insider collusion, it was discovered that the recipients of the fraudulent transfers were close associates of Halima Shehu and the DFA Hamza.
The retired Director of Account, Hamza Bawai, who is alleged to have aided in the siphoning of the government funds, attempted to flee the country but was apprehended and is currently in EFCC custody. The accounts of the beneficiaries have been frozen, and a thorough investigation is ongoing, both at the Ministry overseeing the agency and at the EFCC. The owners of the fraudulent accounts have been arrested and are being interrogated by the EFCC.
It is noteworthy that Halima Shehu served under Sadia Farouk and has multiple cases of fraud being investigated. This latest revelation further highlights the need for a concerted effort towards ensuring accountability and transparency in government operations. The public trust must be restored, and perpetrators of such heinous acts must face the full weight of the law.
These multiple accounts into which the funds were moved have been frozen by the EFCC as it continues with the ongoing probe of the entire social investment programme.
On Wednesday, EFCC detectives grilled the suspended National Coordinator/Chief Executive Officer (CEO) of NSIPA, Halima Shehu in Abuja. The agency also arrested and interrogated NSIPA’s immediate past Director of Finance and Accounts (DFA), Mr. Bwai Adamu Hamza who retired last month.
The former Minister for Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar-Farouq, who was also invited by the EFCC for interrogation however failed to honour the EFCC invitation. It was also learnt that the ex-Minister did not send any message on why she did not turn up nor send any legal representative.
The EFCC had invited Umar-Farouq over an alleged laundering of N37.1 billion during her tenure through a contractor, James Okwete. The former minister however strongly denied the allegations.
Sadiya Umar-Farouq
It was gathered that the EFCC Chairman. Mr. Ola Olukoyede was personally leading the probe. EFCC detectives had initially intercepted and seized N17 billion on Tuesday.
Within 24 hours they traced another N13 billion to some accounts, which it froze bringing the total seizure to N30 billion. A total of N44 billion was found to have been moved within one week by the suspects.
EFCC operatives are said to be on the trail of the owners and alleged fronts or firms used to siphon the funds. Hamza, who retired on December 29, was picked up to clarify the movement of the cash under his watch.
Shehu and Hamza were said to have worked closely in the agency and immediately Hamza retired, the suspended NSIPA boss, Halima Shehu appointed him as a Special Adviser on Finance and was expected to resume work on Tuesday before his arrest.
Insider Reports.
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