Nigerian Officials Accused of Misusing Forfeited Funds

Nigerian Officials Accused of Misusing Forfeited Funds:Allegations have surfaced regarding the distribution of forfeited funds among certain government officials and aides.

According to sources, a portion of the N120 billion forfeited to the

Federal Government by Aminu Yaro and his wife, Saadatu Yaro,

was shared among ministers and aides of President Tinubu, in

collaboration with EFCC officials. The Yaros, associates of former CBN Governor Godwin Emefiele, agreed to forfeit the funds as part of a plea bargain with the EFCC to drop pending criminal charges against them.

The EFCC’s investigations had previously revealed a N70 billion

fraud allegedly perpetrated by Godwin Emefiele, former CBN governor,

in collusion with others. Sources indicated that Emefiele, Alhaji Aminu Yaro,

Sarkin Hausawa of Lagos, and his wife, Saadatu Ramallan Yaro, generated the funds through a foreign exchange differential fraud scheme facilitated by Emefiele.

the company

Saadatu Ramallan Yaro and her company were charged with money

laundering offenses totaling over N140 billion. She was accused of failing

to report transactions exceeding N100 billion into the company’s account,

in violation of her duties as a director of a designated non-financial business.

The defendants pleaded not guilty to the counts. The EFCC’s Head of Media

and Publicity, Mr. Dele Oyewale, declined to comment on the allegation,

neither confirming nor denying it. The allegations and charges are currently

under investigation, and no convictions have been made.

The allegations against President Tinubu’s ministers and aides, as well as

EFCC officials, are yet to be proven in a court of law. The EFCC’s investigation

into the matter is ongoing, and it is crucial to allow the legal process to unfold without speculation or assumptions.