Introduction

In Nigeria Economic and Financial Crimes are being investigated by the law enforcement agency known as the economic and financial
crime commission that investigates financial crimes such as advance fee fraud and money laundering. It was founded by Olusegun Obasanjo in the year 2003 and it's headquarters is at plot 301/302, institution and research cadastral district jabi, Abuja

The Economic and Financial Crimes Commission has arrested Nigeria’s Accountant General of the Federation. Mr Ahmed Idris
following an alleged N80 billion fraud.

The anti-graft body disclosed this on its Twitter page showing a picture of the Accountant general of the federation.

It tweeted, “Operatives of the 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 N80billion (Eighty Billion Naira) only.($666,666,667) steem approximately.

“The Commission’s verified intelligence revealed that the AGF raked off the funds through bogus consultancies and other illegal activities using proxies, family members and close associates.

“The funds were laundered through real estate investments in Kano and Abuja.”

The EFCC said Mr. Idris was apprehended after refusing to honour invitations by the EFCC to respond to issues connected to the fraudulent acts.

What you should know

President Muhammed Buhari appointed Mr Idris as Accountant-General of the Federation on the 25 of June, 2015.
Mr Idris was reappointed by President Buhari for a second four-year term in June 2019, despite criticisms from labour groups who emphasized that the accountant-general should retire after turning 60 years old.
Mr Idris, a native of Kano State, North-west Nigeria, was born on November 25, 1960, and was until his appointment in 2015 the Director of Finance and Accounts, Federal Ministry of Mines and Steel Development.
Idris is a chartered accountant with over two decades of work experience. A Fellow of the Association of National Accountants of Nigeria and Fellow, Association of Financial Analysts of Nigeria.
He is a member of other professional bodies including the Chartered Institute of Taxation of Nigeria, the Certified Institute of Cost Management of Nigeria, and the Association of Certified Fraud Examiners.

The Economic and Financial Crimes Commission (EFCC) as part of the ongoing probe of the suspended Accountant-General of the Federation, Ahmed Idris, has traced N90 billion more allegedly looted from the Federation Account.(750,000 000) steem

The anti-graft agency had earlier arrested the former AGF in connection with N80 billion allegedly stored in a hidden place. With the new discovery, a total of N170 billion fund looted has been traced.

Idris, who was battling for his release on Sunday night has opened up and disclosed some top government officials allegedly involved in some transactions.

Idris has so far been suspended indefinitely for proper investigation to be carried out into the fraud allegations against him.

The PUNCH investigation reported that EFCC grilled a Permanent Secretary in connection with some “deals in which Idris was implicated”.

According to the report, the anti-graft agency was also closing in on a minister who was fingered in the allegations against the suspended AGF.

It was learnt that Idris was arrested after he ignored 80 invitations by the EFCC.

An investigation by the paper reported that detectives of the EFCC had made vital
discoveries about some transactions in the Office of the Accountant-General of the Federation (OAGF).

conclusion

Economic and financial crime is as a result of insincerity , greed, insatiability and self centeredness at the expense of the poor masses.It is worthy of note however that if this investigation process is being handled very meticulously and religiously it will serve as a lesson and deterrent to others.