“They signed for the money and took it to the residence of the first defendant (Akinjide). The defendants made cash payment of N650million without going through any financial institution, an amount which was more than the amount authorised by law to be paid in cash,” Zakari said.
Browsing: Economic and Financial Crimes Commission
“I hope that by this conference report, they (Egmont) will have a second view and readmit us. I hope that the executive will quickly assent and ensure the independence of the unit,” Saraki said.
The committee said, “Many parastatals are unwilling to submit their audited accounts without being compelled and this is in violation of their establishment Acts. Some parastatals do not take accountability in public expenditure seriously.”
Ahead of its meeting in Buenos Aires, Argentina, between March 11 and March 16, Nigeria is expected to make NFIU independent in order to avoid expulsion.
EFCC filed corruption charges against Shell and Eni in March 2017, accusing 11 defendants, including Chief Dan Etete, of “official corruption” in connection with the deal.
The intervention of the leadership of the National Assembly came ahead of the Egmont Group’s next meeting which is scheduled to hold on March 12. At the meeting, it would be determined whether Nigeria has complied with the requirements to warrant the lifting of its suspension.
The EFCC lawyer urged the court to order a final forfeiture of the properties listed in the schedule of application filed before the court.
“The Federal Government must call the Economic and Financial Crimes Commission-EFCC to order now, before it is too late. The implications of expelling Nigeria from the Egmont Group are far-reaching. Nigeria will fully return to the list of high risk jurisdiction countries of the world, if the EFCC is not called to order.”
If expelled, Nigeria will be blacklisted in the global finance sector and Nigerian Banks will be unable to issue Mastercard and Visa credit/debit cards while card transactions with Nigerian originated cards will be blocked meaning Nigerians cannot do foreign transactions.
The fund was allegedly obtained with approval from ex-President Goodluck Jonathan without appropriation from the National Assembly or approval from the Federal Executive Council (FEC).