As investigations progress in the Ministry of Humanitarian Affairs and Poverty Alleviation, it has come to light, yesterday, that the Independent Corrupt Practices and Other Related Offences Commission (ICPC) recovered N50bn from the Ministry between July and August 2023 and paid same into the Central Bank of Nigeria.
The fund which was meant for vulnerable citizens during the tenure of former Minister Sadiya Umar-Farouq was blocked during attempts to transfer it into private bank accounts but eventually recovered.
The N50bn was subsequently handed over to President Bola Tinubu-led Federal Government upon resumption of office;
“The funds were recovered when former President Muhammadu Buhari and Umar-Farouq were leaving office and President Tinubu had yet to appoint a new humanitarian affairs minister.
“President Tinubu, upon the appointment of the now suspended Minister of Humanitarian Affairs, Betta Edu, ordered the Accountant-General of the Federation to refund the money to the ministry as part of the Infrastructure Support Fund for the 36 states and the Federal Capital Territory to cushion the effect of the fuel subsidy removal.
“The refunded sum is part of the N44bn allegedly laundered in the National Social Investment Programme Agency and the N585m Edu authorised for disbursement,” a source said.
After President Tinubu announced the Infrastructure Support Fund for the 36 states and the Federal Capital Territory to cushion the effect of the fuel subsidy removal, the Federal Government paid the money into the coffers of the Humanitarian Affairs Ministry under Betta Edu, being the ministry in charge poverty alleviation projects.
At the moment, not only Betta Edu but many senior staff of the Ministry as well as the former Minister are being quizzed to account for the N50 Billion recovered loot.