Nigeria: EFCC to Investigate Missing N1.5 Trillion Energy Fund
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Vanguard (Lagos)
28 August 2008
Posted to the web 28 August 2008
Laide Akinboade
THE Economic and Financial Crime Commission (EFCC), vowed yesterday to investigate the N1.5 trillion funds released by the Federal Government to revamp the power sector but has not been paid into government coffers even though it was not spent.
The Chairman, EFCC, Mrs. Farida Waziri on a visit to the Director General of National Agency for Food, Drug Administration and Control, (NAFDAC), Prof Dora Akunyili said, "I was there at the NBA conference, when the Speaker made the disclosure on that amount. I want to get to him later to see what he can give us to start our investigation with.
There has to be follow-up actions on the matter."
The Speaker of the House of Representatives, Hon. Dimeji Bankole had on Monday at the Nigerian Bar Association (NBA) conference, revealed that Ministries, Departments and Agencies failed to remit N1.5 trillion to the Federation Account since 1999 till date.
She said, "I said money does not drop from the sky we have a system; we have a banking system, from the Federal Government, to Central Bank of Nigeria (CBN), to commercial banks to State Governments. We have to look at our system because the banks have consolidated but I think there is still a lot to be done, this money pass through a system."
There was the need for EFCC, she said, to have direct assess to money moved from all the financial houses in the country.
In her words, "The banks gives us only returns they want us to see or to know but if we have a system where money that is moved is reflected in the EFCC. There is software that both EFCC and the banks will have that will reflect the movement of money.
Already we belong to Edmonds group where we can cross check information and it has been working to cross check movement of money outside and inside the country within the banking system. But we are working on having a direct assess to money that is moved and address the problem of Federal Government money being looted."
The EFCC boss also said that she was not in support of plea bargain by corrupt politicians.
Farida made this known while fielding questions from journalist at the office of the Director-General of NAFDAC, Prof. Dora Akunyili.
"It's a law l don't like, but l just must use it, because l met it in operation," she said.
She said that some lawyers were consulting with her on why she must continue with the process. "Some lawyers are trying to convince me that l can't afford to let a man that stole a trillion naira and have houses all over the world to go free.
"If you don't take this asset from this man he may get away with it because the cases are taking so long that it might outlive the administration," she said.
Waziri urged the Federal Government to establish anti corruption courts in the country.
"In developed countries we have matrimonial courts, commercial courts etc. I am of the opinion that we need special courts to try all the anti-corruption cases, not because I don't have confidence in our court system, but court jurisprudence is very slow and very difficult.
If you are with somebody that is very smart and he has embezzled all the money and you don't have hard facts to prosecute the person then he can get away with it. Lot of cases have been dismissed on ground of technicalities, these are some of the reasons why we need special court," she said.
She noted that some of the cases the former EFCC boss, Nuhu Ribadu took to court since 2006 -2007, are still pending in the court and no plea has been taken. "So justice delayed is justice denied. Meanwhile, the person has his passport and he is busy enjoying himself, going from one country to the other", she lamented.
That is why there is need to establish a special court for anti corruption cases and am still hoping that something will be done in this area. This is necessary if we are going to fight corruption in this country."
Responding, the DG, NAFDAC, Professor Akunyili, in her response stated that the agency is more than ready to collaborate with EFCC in fighting ant corruptions in the country.
She also noted that the passage of the just submitted Forfeiture Act 2008 to the National assembly will be a plus for the country.
"I just want to add that NAFDAC is ready to collaborate with EFCC in fighting for the Forfeiture Act. It is critical for this country. We are pursuing somebody and the person is collecting rents from over 100 houses it is a joke."
"Drug counterfeiting is a worst aspect of corruption because it affects lives directly. Money can be regenerated but life cannot be recreated. We are also fighting corruption through sound fiscal policy. We solicit your assistance to help us through your officers in the field to give us information wherever they stumble on an, just as we get from other security agencies." Prof. Akunyili said
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Earlier, the High commissioner of India, Mr. Mahesh Sachdev, also paid a visit to the DG of NAFDAC, Professor Akunyili, according to him, the Government of India is worried about fake drugs operators that are operating from India. He assured the Prof. Akunyili that his government is ready to collaborate with NAFDAC in checkmating those that are involved in trafficking fake drugs into Nigeria.
Read comments. Write your own.
Dimeji, since when was it the govt's standard operating procedure requiring Ministries to return their unspent fund back to the federal coffers? To the best of my knowledge, this SOP began only last year (2007) under Yar.
Then why request account thru 1999 or better yet, why limit your probe to that period of Nigeria's new dispensation (when a semblance of good governance began with the advent of OBJ)? Even if we assume that your motive is fair & reasonable, perhaps you could tell us where the payment of the $18 Billion of national debt came from? While you are… [Read Full Text]
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One wonders if there is no laid down procedure to have been followed by the ministries. If any procedure was violated,one would expect the speaker to go deeper into details as to why this occured to pin down the motive without the seeming inuendoes in which he is trying to engage in. The speaker seems to have limited his search for faults to the period of the last administration giving the impression that all administrations before the last are clean. In this regard, the speaker might be one of the errant boys of the corrupt politicians… [Read Full Text]