Home Politics How EFCC Chairman Lamorde Allegedly Diverted N1.3 Trillion Recovered Funds

How EFCC Chairman Lamorde Allegedly Diverted N1.3 Trillion Recovered Funds

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The Senate committee on ethics, privileges and public petition probing allegation of diversion of fund leveled against Ibrahim Lamorde, the chairman of the Economic and Financial Crimes Commission was inundated with facts on how the chairman allegedly diverted a whopping N2.051 trillion into his personal purse.

The petitioner, Geroge Uboh, stated that the anti-graft agency recovered over N3trillion loot between 2004 and 2011, insisting that the agency must be asked to account for N2.051 trillion that was not paid into the federation account.

The Will, a US-based online newspaper, has reported that Oboh revealed that some of the properties seized by the EFCC from former Bayelsa state governor, DSP Alamieyesigha and others were allegedly given to the EFCC boss younger brother, Usman Lamorde,

In his defence , the petitioner said: “In a December 02, 2011 letter EFCC sent to the Chairman, House Committee on Drugs, Narcotics and Financial Crimes, EFCC stated that the aggregate recoveries from 2004 to 2011 (8 financial years) was N1,326,754,554,482:80. EFCC did not mention where the N1.3 Trillion recovered was remitted to.”

He maintained that EFCC’s claim that it did not recover up to a trillion naira is complete false, Obuh gave the breakdown as follows:

2004—N7,070,693,130:00

2005—N965,651,737,039:00

 2006—N6,622,261,783:79

2007—N7,700,150,381:20

2008—N18,141,628,546:98

2009, N130,885,187,726:83

2010—N52,877,464,867:00

2011—N137,805,431,008:08.

Oboh continued by saying:  “In EFCC’s “Summary Of EFCC Monetary Recoveries 2003-March, 2013” (11 financial years), EFCC stated that the aggregate recoveries for 11 financial years is N497,385,427,485:63; EFCC did not mention where the N497.3 Billion recovered was remitted to, going by the following breakdown-

2003—N974,783,213:06

2004—N21,018,557,263:28

2005—N71,053,996,008:60

2006—N8,199,908,189:03

2007—N41,479,032,319:70

2008—N44,542,822,622:30

2009—N255,306,693,033:55

2010—N10,559,513,355:91

2011—N11,117,460,717:88

2012—N27,844,769,688:19

2013—N5,287,891,074:13.

He insisted that the documents submitted were being prepared during Lamorde’s watch, adding that the total recoveries by the EFCC as N2.051trillion. He asked how come over N2trillion could not be accounted for.

The petitioner alleged that EFCC under Lamorde’s supervision also indulged in doctoring of bank accounts and diversion of already seized loots.

Oboh 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. These transactions are expunged. 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 3,037,255,521.60 – not 2,258,100,516.98); 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.

“Access Bank should be compelled to bring complete and unadulterated statements from 2004 till date. Aminu Ibrahim and Co, Auditors, should be compelled to come and shed light on discrepancies in its records and that of the already traced EFCC accounts.”

The committee chairman, Senator Samuel Anyanwu, explained that the committee is not out to rundown or witch hunt anyone but on a fact-finding mission saying that the allegations leveled against the anti-graft boss are very weighty and must be taken very seriously.

However, the committee ordered officials of the EFCC out during Wednesday, August 27, sitting after hearing the submission of the commission’s head of legal services, Chile Okoroma even as the agency had earlier sought for permission through a letter for an extension of date to appear before the committee.

Recall that the Senate was divided over the planned probed of Lamorde. While the PDP caucus in the Senate are against the probe, the leadership of the upper chamber insisted that the probe must go on.

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