EFCC recovers N6.66bn from N23.3bn campaign funds 'shared' by ex-minister

dimeji akinloye

May 25, 2016 5:55 PM

The EFCC also reportedly recovered N17 million from former Secretary to the Government of Bauchi State, Alhaji Ahmed Ibrahim Dandija.

Dieziani Madueke

The Economic Financial Crimes Commission (EFCC) has recovered at least N6.66 billion looted funds, which includes the $115 million (N23.3 billion) election campaign bribe allegedly shared by Minister of Petroleum Resources,

The $115 million bribe was distributed through Fidelity Bank to politicians to secure the victory of former President Goodluck Jonathan in the 2015 presidential election.

It was reported that Sterling Bank and Access Bank refunded N5 billion and $5 million (N1 billion) respectively, being part of the looted funds.

The EFCC also reportedly recovered N17 million from former Secretary to the Government of Bauchi State, Alhaji Ahmed Ibrahim Dandija, and two others from the state.

Report said Fidelity Bank also refunded N49 million, which is said to be the profit the bank made for helping Alison-Madueke to share the $115 million to designated people in the country.

This puts the aggregate of the recovered funds at N6.66 billion while N16.64billion is yet to be recovered.

The former minister gave the $115 million to Fidelity Bank for onward distribution to some officials of the Independent National Electoral commission (INEC) and members of the Peoples Democratic Party (PDP) members across the country.

READ:INEC disowns staff who received bribes from Alison-Madueke

Alison-Madueke was reported to have sourced $88 million from some oil companies while she contributed N26 million.

The ex-minister, who is currently being investigated in the United Kingdom on money laundering and corruption charges, reportedly used four companies to deposit the money into Fidelity bank.

dimeji akinloye