Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ibrahim Lamorde would next week face the Senate Committee on Ethics, Privileges and Public Petitions for probe over alleged diversion of N2.05trillion worth of seized funds and assets from corrupt politicians.
This was disclosed yesterday by the committee chairman, Senator Samuel Nnaemeka Anyanwu (PDP Imo East) in a chat with senate correspondents in Abuja.
Senator Anyanwu said the suspended investigation into the alleged fraud due to the screening and confirmation of ministerial nominees sent to the upper legislative chamber by President Muhammadu Buhari.
He, however, informed that the EFCC chairman is expected to come and defend himself of all the allegations before the committee, saying “we have decided to summon Lamorde for the continuation of our hearing on the petition against him”.
“We suspended the hearing because of the screening of ministerial nominees by the senate, but hopefully, we are going to resume our sitting for continuation of hearing in the matter”, he added.
Chief Executive Officer of Panic Alert Security Systems, a security firm, Dr. George Uboh had petitioned the Senate, accusing Lamorde of some specific instances of under-remittance and non-disclosure of proceeds of corruption recovered from criminal suspects, including the former governor of Bayelsa, Diepreye Alamieyesigha and former Inspector General of Police, Tafa Balogun.
Uboh, in the petition dated July 30, 2015 also alleged that the EFCC had not accounted for “offshore recoveries” and that “over half of the assets seized from suspects are not reflected in EFCC exhibit records”.
The fraud allegedly perpetrated by Larmode was said to have dated back to his days as the Director of Operations of the EFCC between 2003 and 2007, as well as an acting Chairman of the commission between June 2007 and May 2008, when the then chairman of the anti-graft agency, Mr. Nuhu Ribadu, was away for a course at the National Institute for Policy and Strategic Studies, NIPSS, Kuru, Jos.
The petitioner had recently appeared before the Senate Committee on Ethics, Privileges and Public Petitions during a public hearing where he made submissions on the allegations while Lamorde sought for extension of his date of appearance before the committee.
At the session, Uboh made series of submissions backed with facts and figures, indicating that the anti graft body, must have defrauded the country to the tune of N2.051trillion from seized properties and funds of individuals under investigation by the commission.
The petitioner, while comparing the first two submissions emanating from EFCC, said the commission doctored its records to conceal diversions.
According to him, “The 2011 submission is over N800 billion higher than the 2013 submission despite two additional years of Naira recoveries in the 2013 submission. Based on the records, because EFCC has not been able to account for over N800 billion, EFCC manipulated the above records and grossly understated recoveries in order to conceal the fraud”.
He listed recoveries in the Central Bank of Nigeria, CBN account not reflected in EFCC audited financial statements as N3.3billion in 2010 and N6billion in 2009.
On doctoring of bank accounts, Uboh said “Two Access Bank recovery account statements tendered herein show opening balances of -0- as of 1, July 2004, but no transaction occurred until June/July 2008 respectively”.
The alleged that these transactions were expunged, asking “where are the funds deposited between July 2004 and June/July, 2008?”.
“EFCC diverted and concealed N779 million of recoveries from Tafa Balogun in its record (aggregate should be N3,037,255,521.60 – not N2,258,100,516.98).
“Instead of transferring N3.3 billion from Spring Bank to its Access Bank recovery account, EFCC transferred only N2.2 billion and concealed it by understating the summation of the balances in the various accounts hence the Access Bank statement had N2.2 billion after the concealment”, he alleged.
The petitioner, therefore, urged the Senate to compel Access Bank to bring complete and unadulterated statements of the commission from 2004 till date.

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