Bawa: EFCC Has Recovered $100m From INTELS

The Chairman of the Economic and Financial Crimes Commission
(EFCC), Abdulrasheed Bawa, has said the Commission has recovered
$100 million from Integrated Logistics Services (INTELS) on behalf
of the Nigerian Ports Authority (NPA).

Bawa stated this on Thursday while speaking during the weekly
Ministerial Briefing organized by the Presidential Media Team at
the Presidential Villa, Abuja.

Speaking about the successes so far achieved by the EFCC under
his watch in the last 100 days, Bawa said the Commission does not
make recoveries for only the federal government, but all victims of
fraud.

He recalled that the Commission recovered a total of $100
million for the NPA from some of the outstanding remittances that
INTELS was owing the country.

Speaking on the case of the former Minister who bought a
property with $37 million, Bawa said he was not referring to a
serving minister, but a former Minister of Petroleum Resources.

Bawa had on Tuesday in an interview with Sunrise Daily, a
Channels Television programme, disclosed that EFCC investigated a
female minister, who bought $37.5million property from a bank and
deposited $20 million cash.

He had also identified the real estate sector as a major conduit
for money laundering.

Bawa observed 90 to 100 percent of stolen public funds are used
for the procurement of houses and lands.

“We investigated a matter in which a bank MD marketed a property
to a minister and agreed to purchase it at $37.5 million.

“The bank then sent a vehicle to her house to evacuate $20
million from her house in the first instance,” he had said.

The Chairman of the Economic and Financial Crimes Commission
(EFCC), Abdulrasheed Bawa, has said the Commission has recovered
$100 million from Integrated Logistics Services (INTELS) on behalf
of the Nigerian Ports Authority (NPA).

Bawa stated this on Thursday while speaking during the weekly
Ministerial Briefing organized by the Presidential Media Team at
the Presidential Villa, Abuja.

Speaking about the successes so far achieved by the EFCC under
his watch in the last 100 days, Bawa said the Commission does not
make recoveries for only the federal government, but all victims of
fraud.

He recalled that the Commission recovered a total of $100
million for the NPA from some of the outstanding remittances that
INTELS was owing the country.

Speaking on the case of the former Minister who bought a
property with $37 million, Bawa said he was not referring to a
serving minister, but a former Minister of Petroleum Resources.

Bawa had on Tuesday in an interview with Sunrise Daily, a
Channels Television programme, disclosed that EFCC investigated a
female minister, who bought $37.5million property from a bank and
deposited $20 million cash.

He had also identified the real estate sector as a major conduit
for money laundering.

Bawa observed 90 to 100 percent of stolen public funds are used
for the procurement of houses and lands.

“We investigated a matter in which a bank MD marketed a property
to a minister and agreed to purchase it at $37.5 million.

“The bank then sent a vehicle to her house to evacuate $20
million from her house in the first instance,” he had said.