As part of the ongoing probe, the Economic and Financial Crimes Commission (EFCC) has traced 27 accounts to the suspended Managing Director of the Rural Electrification Agency (REA), Ahmad Salihijo Ahmad.
It said Ahmad only declared two accounts to the Code of Conduct Bureau (CCB).
The commission said it was also investigating alleged “gross misappropriation of N12.4billion COVID 19 funds, which were disbursed to the agencies in two tranches.
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The investigators have suspected that N6bilion out of N12. 4billion could have been diverted.
It also revealed that about N1.2billion, which immediately accounted for Ahmad’s suspension, was wired into the accounts of eight staff members.
Also the anti-graft commission indicted two directors of the REA for alleged involvement in malpractices in the agency.
Although Ahmad and four others were the initial focus of the investigation, the EFCC uncovered the involvement of others.
The allegations against top officials of REA are criminal conspiracy, criminal breach of trust, misappropriation of public funds, procurement fraud and money laundering.
Pegs of the probe
One of the pegs of the investigation was the uncovering of 27 accounts linked with the suspended REA Managing Director.
A part of the report reads: “That the suspect made false declaration at the Code of Conduct Bureau as he operates (27) active accounts against the (2) accounts declared by him.
“ That on the 1st of September, 2020, Ahmad Salihijo Ahmad declared his assets with the Code of Conduct Bureau.
“ That the suspect declared only two bank accounts with the Code of Conduct Bureau.
“ That the suspect made false declaration at the Code of Conduct Bureau as he stated that he does not have any factory or enterprise while in reality, he is a director in five (5) companies and shareholder(owner) in four (4) companies.
