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EFCC Recovers N30m from Bauchi Govt Officials

Posted by This Day Online on 2005/08/11 | Views: 514 |

EFCC Recovers N30m from Bauchi Govt Officials


Economic and Financial Crimes Commission (EFCC) has recovered N30m out of the N196 m looted from Bauchi State government's coffers by civil servants.

Economic and Financial Crimes Commission (EFCC) has recovered N30m out of the N196 m looted from Bauchi State government's coffers by civil servants.

A source at the EFCC head office in Abuja told our correspondent yesterday that some of the suspects had confessed and were willing to return their loots in lieu of prosecution.

EFCC according to the source, discovered that the fraud was “perpetrated over a period through diversion of internally generated revenue.''
“We are making progress as investigation is still on. We are determined to recover all looted funds from culprits.''

On illegal sale of Bauchi State shares by some top government officials, THISDAY learnt that EFCC operatives had met a brick wall on the issue as the company which benefited from the sal at a give-away price had been liquidated.
“We are still trying to unmask the identity of the liquidated company and its owners,'' an official of the EFCC said.

Bauchi State government in June uncovered a fraud of N196m involving its accountants and other revenue officials.

The government then invited the EFCC to investigate the matter which led to arrest of more than 30 officials from the treasury department, revenue board as well as the finance and information ministries.


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