We keep clamouring for a better Nigeria yet some unscrupulous entities continue to get away with public funds.
As bad as the economy is, public funds still manage to find its way into personal accounts.
It is therefore not surprising to see Betta Edu, Shehu Halima among others, transfer public funds into private accounts.
You see whether we agree or not, public funds have been finding its way into private accounts from time immemorial.
And it is not going to stop anytime soon.
Not because the Economic and Financial Crimes Commission (EFCC) is investigating Edu or Umar-Farouq.
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According to information gathered, in 2022, ₦10 billion of public funds found its way into private accounts.
This significant sum was disbursed among 18 beneficiaries through a total of 165 transactions.
See How ₦10 billion Disappeared Into Private Account In 2022
Ebikabowei Victor Ben stood out for receiving one of the largest amounts, ₦2.20 billion spread across 27 transactions.
The funds, were designated for stipend payments to 1214 ex-agitators in Boyloaf Camp.
Dasiamaka Adokiye Sami, obtained ₦2.20 billion through 12 transactions for stipend payments to ex-agitators in Tom Ateke camp.
Alagbada Christiana Omolade received the least amount, ₦118.17 million, distributed over 18 transactions.
This data was released after Betta Edu was suspended from her position as the Minister of Humanitarian Affairs and Poverty Alleviation.
President Bola Tinubu took this action after a leaked memo surfaced, exposing Edu’s directive to transfer N585 million to a private account.
Nigeria’s Law Frowns At Transferring Public Funds Into Private Account
This revelation sparked widespread concerns and raised questions about potential financial improprieties within the ministry.
Nigeria’s law unequivocally prohibits transferring public funds to private accounts.
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The Federal Government’s Financial Regulation, Chapter 7, page 131, says,
“Personal monies are forbidden from entering government accounts, and public money should not be deposited in private accounts.
Any officer involved in such transactions is deemed to have acted with fraudulent intent, according to the stipulations of the law.
