ICPC recovers N1bn loot from federal agencies

Abuja - The Independent Corrupt Practices and Related Offences Commission, ICPC, on Tuesday returned parts of public funds looted by corrupt officials from the Federal Ministry of Environment and the Federal Pay Office to the affected agencies, Premium Times reports.

The development followed court orders secured by the ICPC in Abuja.

On December 1 last year, the ICPC received a petition from the Ministry of Environment regarding a fraudulent electronic funds transfer from its account, allegedly by Adeolu Adeyanju.

Investigators however established that a forged payment mandate in the sum of N924 million was presented to the First City Monument Bank, FCMB, where the ministry’s account was domiciled.

The amount was therefore recovered by the ICPC and returned to the Ministry of Environment.