Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    CBN Grants JPMorgan Licence to Operate Merchant Bank in Nigeria

    October 23, 2026

    Oil Prices Jump on Heightened Supply Risk, Brent Tops $114

    October 23, 2026

    XRP Selloff Slows as Ripple Supports SEC Crypto Asset Framework

    October 23, 2026
    Facebook X (Twitter) Instagram
    Trending
    • CBN Grants JPMorgan Licence to Operate Merchant Bank in Nigeria
    • Oil Prices Jump on Heightened Supply Risk, Brent Tops $114
    • XRP Selloff Slows as Ripple Supports SEC Crypto Asset Framework
    • Global Equities Markets Tank on AI Sustainability, Financing Fears
    • Transcorp Power Posts N83bn Profit in Q3, Boosts Margin
    • NCDC Identifies Bundibugyo Strain in Abuja Ebola Case
    • SK Hynix Postpones Plan to Take Solidigm Public
    • Nvidia Tokenized Stock Dips as Market Cap Falls to $5.12trn
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Friday, October 23
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » Uncategorized » N585m Fraud: EFCC Grills AGF, Invites More Ministry Officials

    N585m Fraud: EFCC Grills AGF, Invites More Ministry Officials

    Marketforces AfricaBy Marketforces AfricaJanuary 17, 2024 Uncategorized No Comments3 Mins Read
    N585m Fraud: EFCC Grills AGF, Invites More Ministry Officials
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    N585m Fraud: EFCC Grills AGF, Invites More Ministry Officials

    Economic and Financial Crimes Commission (EFCC) has interrogated the Accountant General of the Federation (AGF), Oluwatoyin Madein, and also invited more members of staff of Ministry of Humanitarian Affairsover alleged N585.2m fraud in the ministry.

    An EFCC source told Agency news that Madein and some other members of staff were invited over an alleged link to the alleged N585.2m case involving the suspended Minister of Humanitarian Affairs, Dr Betta Edu.

    The source said that the AGF was quizzed by EFCC interrogators for several hours at the anti-graft agency’s headquarters, Jabi, Abuja but was later released. The source said that Madein was queried over the payment of N585.2 million of government funds from the ministry into the private bank account of a government official.

    Madein, according to the source, told interrogators that she didn’t approve the memo from the minister, Edu for the payment into a private account.

    “She was grilled for several hours on Monday over the payment of N585.2m from the National Social Investment Office (NSIO) account to the UBA account of Bridget Oniyelu, the Accountant of the Grants for Vulnerable Groups under the ministry.

    “She told the investigators that she didn’t approve Edu’s memo for payment into private accounts.

    “She was not detained and was released with no condition after she made her explanation in writing to the investigators during interrogation.”

    The source said some ministry officials were invited to explain their involvement in the exercise, adding that some were quizzed and released while others were detained depending on the level of their involvement.

    “I don’t know how many of them that were released or being detained but some of them were still in the custody depending on their involvement,” the source said.  Nigeria Eurobond Slumps after CBN Resumes OMO Auction

    A leaked memo had revealed how Edu, in December 2023, allegedly requested Madein to transfer the money from NSIO account to the UBA account of Oniyelu, the accountant of the Grants for Vulnerable Groups under the ministry.

    The AGF, however, in a statement, countered the claim by the suspended the minister.

    She noted that allocations were released to self-accounting MDAs in line with the budget and such MDAs were responsible for the implementation of their projects and payments for such projects.

    The minister, who was suspended on Jan. 8, by President Bola Tinubu, was last week Tuesday grilled by operatives of the EFCC for more than 10 hours over the alleged  fraud in her ministry. The N585 million was meant for payment of grants to vulnerable groups in Akwa Ibom, Lagos, Cross River and Ogun states.

    Also, Halima Shehu, the embattled Co-ordinator and Chief Executive Officer of the National Social Investment Programme Agency domiciled in the Ministry of Humanitarian Affairs, is also being probed by the EFCC over an alleged N44 billion fraud.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Marketforces Africa
    • Website
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

    Keep Reading

    FG Partners with China Firm on Local HIV Diagnostic Kits

    UBA Reiterates Tech Investment as Catalyst for Growth

    Banks Loan to Govt. Hits Record High, Up 90% in 12-Month

    Market Reduces Aradel Holdings Valuation by 37% to N1.94T

    Business Confidence Hits Record Low in Nigeria

    FG Releases Funds for Payment of NASU, Retirees’ Entitlements

    Add A Comment

    Comments are closed.

    Editors Picks

    CBN Grants JPMorgan Licence to Operate Merchant Bank in Nigeria

    October 23, 2026

    Oil Prices Jump on Heightened Supply Risk, Brent Tops $114

    October 23, 2026

    XRP Selloff Slows as Ripple Supports SEC Crypto Asset Framework

    October 23, 2026

    Global Equities Markets Tank on AI Sustainability, Financing Fears

    October 23, 2026

    Transcorp Power Posts N83bn Profit in Q3, Boosts Margin

    October 23, 2026
    Latest Posts

    FG Partners with China Firm on Local HIV Diagnostic Kits

    November 6, 2024

    UBA Reiterates Tech Investment as Catalyst for Growth

    November 6, 2024

    Banks Loan to Govt. Hits Record High, Up 90% in 12-Month

    November 3, 2024

    Market Reduces Aradel Holdings Valuation by 37% to N1.94T

    November 3, 2024

    Business Confidence Hits Record Low in Nigeria

    November 3, 2024

    Subscribe to News

    Get latest news from MarketForces Africa...

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.