N1trn Theft: House Absolves Lamorde

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N1trn Theft: House Absolves Lamorde

By Correspondent

There are indications, that the House of Representatives Committee on Financial Crimes, may have absolved the former chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Lamorde, of alleged theft to the tune of N1trillion. The House had subjected Lamorde to probe towards the end of his tenure at the anti-graft agency. Specifically, Chairman of the House Committee, Kayode Oladele, revealed that the Committee could not establish the veracity of the allegation made by one George Uboh against Lamorde last year. Oladele, also pointed out that even the incumbent Acting Chairman of the Commission, Ibrahim Magu, had informed the Committee that it was not possible to tamper with exhibits; such monies recovered from suspects are regarded as exhibits, which must be returned to owners if they are acquitted of the case. Oladele said, “We have cases pending in court. Any money recovered cannot be paid into the federation account until the court convicts that person and there is order of forfeiture. “To that extent, money recovered by the EFCC still belongs to the owners until that person is convicted. So if the EFCC retrieved trillions from people, many cases are still pending in court and we believe that such monies are being held in trust, in an account, they call it Recovery Account, pending that person’s conviction. “So how would anybody take an exhibit? What if tomorrow the person is released and acquitted, who pays the money? And up till today, we have not been told that anybody said after his acquittal, he has not been given his money back. As a matter of fact, the money is paid into an account with compound interest.” 

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