by Nnamdi Akpa

The chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ibrahim Lamorde said the commission has arrested over 40 suspects and recovered over N5 billion in the oil subsidy fraud.

Lamorde disclosed this at a workshop on effective reporting of financial crimes organized by the commission for journalists in South-East zone in Enugu on Monday, 10 November.

The EFCC Chairman was represented by the Deputy Director, Public Affairs Department, Mr. Osita Nwajah, who said that there are several cases in the commission’s offices in the six zones of the country that needed to be given attention.

“In the oil subsidy fraud being investigated by the commission, over N5 billion has been recovered, while more than 40 suspects are being prosecuted in court. In the pension fraud matter, the commission has secured one conviction and recovered property valued at over a billion naira.”

“We need to pay attention to these cases. It is not only when a former governor is arrested that the media would be interested. As I speak, the commission is investigating a case of fraud in a new generation bank in Port Harcourt where a customer, working with his wife who is a staff of a new generation bank, defrauded the bank of N855 million.”

“The suspect, one Ochenna Ogbonnaya Dike cashed in on system glitches to perpetuate the scam over a period of five months by transferring funds from the bank into accounts in the new generation bank. Other accomplices in the scam,” he went on, “are currently on the run. But EFCC will get them as we are determined to check all incidences of fraud in the banking sector.”

He implored the media to comprehensively cover corruption cases from start to finish.

“I urge you (media) to take greater interest in cases that are either being investigated or prosecuted by the commission. Where media interest in corruption cases fizzles out after arraignment is unhealthy.”

Kolapo Olapoju