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Lots of revelations are coming up at the hearing of the Senate Committee on Ethics, Privileges and Public petitions, on the probe of Economic
and Financial Crimes Commission [EFCC] boss, Ibrahim Lamorde, who was accused of diverting one trillion Naira.
In the course of the ongoing probe, the Attorney-General of the federation, Mohammed Bello Adoke, Former Minister of finance, Ngozi Okonjo-Iweala, even former President Goodluck Jonathan have all been mentioned as play makers
It could be recalled that The Senate summoned Mr. Lamorde to appear before it and proffer explanations over the petition fired by a certain Mr. George Uboh.
However, due to the caliber of people involved in the colossal fraud, some senators from the Peoples Democratic Party [PDP] did not want the Lamorde probe to go ahead and attempted to scuttle it.
Speculations are rife that Mr Lamorde will get the boot from President Muhammadu Buhari who, it is evident, does not believe in the EFFC because politicians now use the EFCC to get away with their loot.
It has been alleged that once a looter is arrested by the EFCC and can negotiate very well, one will not have a case to answer as long as s/he is willing to part with a chunk of the loot.
Related articles:
Group urges Saraki to go ahead with EFCC boss probe
Alleged N1 trillion: Senate Vows to proceed with Larmode Probe
EFCC Statement on the N1 trillion Fraud Allegation against Lamorde
PDP Senators Kick against EFCC Boss Probe
However, fears are that The Senate may be planning to rubbish the petition at the hearing as the petitioner, was indicted and jailed in the USA but released in 2001, fueling accusations that he may be a paid agent.
Also, Lamorde was indicted during the pension probe but nothing came out of it as he had godfathers who are willing not only to protect his interests but theirs as well.
As it stands now, George needs the media to hype the procedure because concerned/affected members of the Senate and/or PDP may rubbish his petition.
In any case, President Buhari will most likely soon remove Lamorde as EFCC chairman as his cup is said to have spilled over. (See the article “Group urges Saraki to go ahead with EFCC boss probe”)
According to an observer, “the PDP senators weren’t trying to stop the EFCC probe for nothing it appears then.”
Stay tuned for more updates…
[UPDATE]
According to Dr. George Uboh, on Naira recoveries alone, ‘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. EFCC’s claim that it did not recover up to a Trillion is complete false.
He gave the breakdown as follows –
2004—N7,070,693,130:00
2005—N965,651,737,039:00
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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
He disclosed further that ” In EFCC’s “SUMMARY OF EFCC MONETARY RECOVERIES 2003-MARCH, 2013” (11 financial years), EFCC stated that the aggregate recoveries for eleven 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
Uboh who stated that the documents submitted were prepared under the chairmanship of Lamorde , went further to disclose that total recoveries to be remitted as confirmed by EFCC are 1.995 Trillion + 48.9 Billion + 7.3 Billion + .4 Billion =N 2.051 Trillion, asking “AFTER RECOVERING OVER 2 TRILLION HOW DID THE FUNDS MELT AWAY?
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