Thursday, Oct 28th 2021 7:11 AM

Market Digest Nigeria


EFCC uncovers N1bn in account


EFCC uncovers N1bn in account owned by civil servant


The Chairman of Economic and Financial Crimes Commission (EFCC), Mr. Abdulrasheed Bawa, has revealed how the commission arrested a civil servant with N1 billion in his custody.

Bawa made this disclosure on Thursday during his appearance before the Senate Committee on Finance investigating the Internally Generated Revenue (IGR) and payment of one per cent stamp duty by contractors on all contracts awarded by Ministries, Departments and Agencies (MDAs) between 2014 and 2020.

According to him, the civil servant is currently being investigated.

Bawa said: “There are a lot of leakages we need to block. It is not about generating revenue. We have recovered over a billion Naira sitting in an account of a civil servant last week.

“After observing the proceedings and the process of investigation of the committee, I am happy with what is happening here. It is a good development that the committee is working towards blocking revenue leakages. At this point in the nation’s history, it is not much about generating revenue as much as blocking leakages of revenue generated and still being generated by all these agencies of government.”

The Economic and Financial Crimes Commission (EFCC) boss said his agency would be willing to partner with the committee and hopefully get the report of the committee for further action.

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