EFCC : Between Anti-graft Crusade And Vile Politics

EFCC : Between Anti-graft Crusade And Vile Politics

By Nafisat Bello

The Economic and Financial Crimes Commission (EFCC) is one of the many outstanding legacies of the Obasanjo/Atiku administration. It was an organisation whose establishment was long overdue due to the fact that the Nigerian Police Force was already over-stretched and there was an urgent need to set up a specialised agency for the purpose of investigating, detecting and arresting elevated, white-collar crimes in government and private sector.

The EFCC was therefore established in 2003, partially in response to pressure from the Financial Action Task Force on Money Laundering (FATF), which named Nigeria as one of the countries that were non-cooperative in the international community’s efforts to fight money laundering, wire fraud and other cross-border crimes.

The decision to establish the EFCC is no doubt one of the best decisions taken by the Nigerian government in the last 20 years. Nigeria is now recognized as one of the countries that are committed to ridding the world of all manners of financial inequities. Hundreds of internet fraudsters who have for decades been given Nigeria a bad name in the comity of nations have been apprehended and made to pay for their crimes. The number of Politically Exposed Persons (PEPs) that have been brought to book for graft and made to cough out their loot are countless. The monies recovered for Nigeria by the EFCC are in billions of naira while the restraint exercised by otherwise criminally-minded public office holders due to the fear of EFFCC is also worth talking about.

The anti-graft commission has however in recent years allowed some unethical practices to rob it of the glory it should ordinarily have. Media trials, politically-motivated actions or statements and some forms of lawlessness have been plaguing the commission lately.

A case in point is the EFCC’s attempt to unfairly paint the Kogi state government with corruption brush when all facts concerning the Sterling Bank money point to the contrary.

The EFCC, in a 13-paragraph affidavit in support of the ex-parte application before the court, had stated that it received a credible and direct intelligence, which led to the tracing of the funds reasonably suspected to be proceeds of unlawful activities in account No. 0073572696 domiciled in Sterling Bank, Plc with the name Kogi State Salary Bailout Account.

Despite all the clarifications done by Governor Yahaya Bello himself, his Commissioner for Information, Kingsley Fanwo, and even Sterling Bank, the EFCC has continued to accuse the state government of hiding over 19 billion naira in a suspicious account at Sterling Bank.

Moving the application for the interim forfeiture of the funds on August 31, 2021, A. O. Mohammed, counsel to the EFCC, urged the court to grant the Order so as to prevent further dissipation of the funds in the account.

Mohammed also told Justice Ringim that the N20 billion loan meant to augment the salary payment and running cost of the government was kept in an interest-yielding account with the Bank. “Instead of using the money for the purpose it was meant for, Sterling Bank Plc, acting on the instruction of the Kogi State Government, transferred the money from the loan account and placed it in a fixed deposit account,” he said.

Reacting to the allegations, the Kogi state government denied ownership of the said amount in an account with Sterling Bank and accused the EFCC of misleading the court by allegedly presenting false documents to obtain the court order.

The EFCC has also claimed that it had handed over the money to the Central Bank of Nigeria (CBN) for safe keeping since the state government is denying knowledge of it.

Meanwhile, to underscore the fact the EFCC seems to have something else up its sleeves, Sterling Bank has come to clarify in unequivocal terms that here is no money like that which is reflected in the letter submitted to the state government on the 1st of September, 2021.

“The Kogi State Government does not operate or maintain a fixed deposit account with Sterling Bank, neither was there any mandate letter from the Kogi State government to open account number 0073572696 with Sterling Bank,” the letter read in part.

The Bank also said that the account number 0073572696 is an interior (mirror) account operated by the Bank for the purpose of managing the Kogi state salary bailout facility, adding that the issue of fraud did not arise at all.

Sequel to that, Kingsley Fanwo also had repeatedly stated that the state does not operate any fixed deposit account with Sterling Bank as suggested by the EFCC to the court which birthed the ex parte order and has confirmed that the account number 0073572696 cited in the alleged order of the Court is ‘an internal (mirror) account as said by the bank.

He further said the whole saga was “a hatchet job conceived by politicians” and implemented by the EFCC to tarnish the rising political image of Governor Yahaya Bello, bringing him to disrepute, and lowering him in the estimation of right-thinking members of the society by portraying him as a corrupt governor/person.”

Speaking in the same vein, members of the GYB2PYB, Kano Branch, has accused the EFCC of seeking to tarnish the image of the State Government for no other reason than to halt the rising political profile of Governor  Bello.

To further prove that Governor Yahaya Bello is innocent of all these allegations of graft, the World Bank in a recent letter commended Yahaya Bello for refunding US$ 4.63 million surplus funds under the Nigeria Erosion and Watershed Management project (NEWMAP). A letter of appreciation signed by its Regional Director, Shubham Chaudhuri, described Bello’s action as a sign of good leadership.

According to the World Bank, the action by the Governor has made it possible for the organisation to extend its projects to other States facing paucity of funds and to extend the closing date of its projects.

This is a mark of integrity and accountability and it’s interesting that it is coming at a time the EFCC is flexing muscles over allegations it cannot prove.

In addition to that, it can aso be proven that the Kogi State government had disbursed its bailout loans for the purpose of which it was granted as of October 2019. Thus, there is, no ‘hidden bailout funds/loan’ belonging to Kogi State that is capable of being returned to the CBN or frozen by an order of court.

It is not too late for the EFCC to retrace its steps and go back to the basics. The practice of going to the media first to tarnish people’s reputation and/or arresting suspects before concluding investigations is wrong and unprofessional. Diligent and thorough investigations first, and then arrest and prosecution!

The anti-corruption czars in the Commission should ensure they stay out of politics and avoid being used by individuals to pursue sinister political motives.

There is still enough time for the EFCC to reform and reinvent itself and recreate its solid and convincing performance of yesteryear.

Nafisat Bello is with PoliticsDigest Abuja