N80bn Fraud: Minister of Finance Suspends AGF

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THE Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has suspended the embattled Accountant General of the Federation, Ahmed Idris over the alleged N80 billion fraud alleged to have been committed by him.

The Minister stated in a letter dated May 18th 2022 that the suspension was necessary “to allow for proper and unhindered investigation into the serious allegations in line with Public Service Rules 030406.”

The short letter reads: “Following your recent arrest by the Economic and Financial Crimes Commission (EFCC) on allegations of diversion of funds and money laundering, I write to convey your suspension from work without pay effective 18th May, 2022.

“During this period, you are not expected to attend to your place of work or contact any official in your Office except for any disciplinary hearing that may be advised.

“It is expected that you will strictly comply with any instructions that will be forwarded to you in your current location or your known recorded address as stipulated in the extant rules.”

EFCC spokesman, Wilson Uwujaren, on Monday evening confirmed the arrest of Idris in a statement. He said Idris was arrested after failing to honour the Commission’s invitations to respond to issues connected to the alleged fraudulent act.

“Operatives of the Economic and Financial Crimes Commission (EFCC), on Monday, May 16, 2022, arrested serving Accountant General of the Federation, Mr. Ahmed Idris, in connection with diversion of funds and money laundering activities to the tune of N80 billion (Eighty Billion Naira only),” the statement stated, adding: “The Commission’s verified intelligence showed that the AGF raked off the funds through bogus consultancies and other illegal activities using proxies, family members and close associates.”

According to the EFCC, the funds were laundered via real estate investments in Kano and Abuja.

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