Economic and Financial Crimes Commission-Nigeria - The Economic and Financial Crimes Commission, EFCC, has placed the managing directors of the seven banks which were allegedly involved in siphoning of over N12 billion pension funds from the pension office of the Head of the Civil Service of the Federation, HOCSF on the watch. It was however, reliably gathered yesterday, that the action became imperative to prevent them from travelling out of the country once their names are made public by the anti-graft agency soon. According to the source, placing them under close watch will go a long way to help the commission to make arrest as soon as any suspicious move is noticed even as investigations are still ongoing until the operatives have tied all the loose ends and arrest them.

It was also gathered that the singular reason why the commission decided to keep away the names of the seven banks is to enable the operatives uncover more facts as once the secret is blown open the chief executives could bolt away easily through any of the borders.

It would be recalled that the pension funds scam was an inter-bank arrangement where the affected top managers working as syndicates allegedly siphoned the money with the connivance of the affected government officials, who the anti-graft agency had arraigned barely two weeks ago.

Meanwhile, EFCC had preferred a 134-count charge against 32 persons for their alleged involvement in the scam. They include, Dr. Sani Teidi Shauibi, the former director, pension administration in the Office of the Head of the Civil Service of the Federation, Mrs. Phina Ukamaka Chidi, former deputy director (Finance and Accounts), in the pension office and Aliyu Bello, a personal assistant to Shuaibu.

Peter Onochie-Igbidu

Leadership/07/04/2011