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EFCC Recovers N5 Billion Stolen Subsidy Money As 40 Suspects Face Persecution



The Economic and Financial Crimes Commission (EFCC) says it has recovered over five billion naira stolen oil subsidy money; just as more than forty suspects are currently being prosecuted for the unholy act.

Chairman of the anti graft agency, Ibrahim Lamorde disclosed this in Enugu during a workshop organized for Journalists in the South East zone held in Enugu.

Tagged “effective reporting on Financial crimes”, the chairman noted that its owes its modest achievements in the last 11 years to the active support of the Nigerian mass media and urged the media to act as whistle blowers by beaming searchlights on area where corrupt practices thrive in the country.

He said “the anti-graft war cannot be won without the support of the media. We rely on you to help carry the message of anti- corruption to Nigerians and mobilize them to buy into the anti- corruption campaign as the anti-graft agencies alone cannot win the fight against corruption in the country”.

The commission boss, also revealed that the commission was investigating a case of fraud in an old generation bank in Port Harcourt, where a customer, working with his wife who is a banker with a new generation bank, defrauded the bank of N855 million.

Though he said that other accomplices in the scam were at large, Larmorde noted that the suspect, one Uchenna Ogbonnaya Dike cashed in on system glitches to perpetrate the scam over a period of five months, by transferring funds from the bank into accounts in the new generation bank.

Lamorde urged the media to be prepared to track the trial of corruption cases as that would not only help in putting such matters in public consciousness, it would also be a disincentive for compromise by “errant judicial officers”.

The workshop captured topics; such as New Media and Economic Crimes Reporting, Investigative Journalism and Financial Crimes Reporting; and Media Ethics and Financial Crimes Reporting delivered by media gurus; Dotun Adekanmbi, Egbuchukwu Nwaja and Blessing Olaifa respectively.

The resource persons noted that gross corruption, absence of good governance and lack of transparent leadership were endemic in the country because “economic crimes are frequently committed by people with considerable degree of respect in the country”.

They also advocated for a synergy with the media to effectively fight economic crimes as these have resulted in threats to human and national security.

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