The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has reportedly recovered N50 billion meant for vulnerable citizens during the tenure of former Minister Sadiya Umar-Farouq from the Humanitarian Affairs and Poverty Alleviation Ministry.
The massive sum of money, which was about to be embezzled, was recovered by the ICPC between July and August 2023 and paid into the Central Bank of Nigeria (CBN).
According to The PUNCH, the fund was blocked during attempts to transfer it into private bank accounts and recovered by the ICPC under its former Chairman, Bolaji Owasanoye.
A source disclosed that the funds were subsequently handed over to the President Bola Tinubu-led Federal Government.
The refunded sum is part of the N44bn allegedly laundered in the National Social Investment Programme Agency, and the N585m Edu authorized for disbursement,” the source said.
