The Economic and Financial Crimes Commission (EFCC) has handed over N279 million in recovered funds to the Wole Soyinka Centre for Culture and the Creative Arts, formerly known as the National Theatre, Lagos.
The handover ceremony took place on Friday at the EFCC’s Lagos Zonal Directorate 2 office in Ikoyi.
According to the commission, the money was recovered following an investigation into the alleged diversion of funds meant for a contract project at the National Theatre.
The case originated from a 2009 petition by Kabir Yusuf, former General Manager and Chief Executive Officer of the National Theatre, against Prince Benjamin Apugo and others over alleged irregularities in the award and execution of a contract.
The contract, valued at N299,707,828, was awarded through the Ministry of Tourism, Culture and National Orientation to Techno Exportstroy Nigeria Limited for the construction of five gates, sand filling and reclamation works at the National Theatre.
EFCC investigations revealed that Yusuf Atai, while serving as acting general manager of the National Theatre, released N334,229,794.24 to the contractor, exceeding the original contract sum by N34,521,966.
Further findings showed that the contractor only executed work valued at N55,910,744, leaving an outstanding balance of N243,799,132.25 for uncompleted work.
The excess payment of N34,521,966 was also not refunded.
Following the conclusion of investigations, the suspect was charged to court for prosecution.
During the trial, the EFCC recovered a total sum of N279 million from the defendant on behalf of the National Theatre.
Speaking at the handover ceremony, EFCC Executive Chairman, Ola Olukoyede, who was represented by the acting Zonal Director, Lagos Zonal Directorate 2, Bawa Kaltungo, reaffirmed the commission’s commitment to ensuring that public funds are properly accounted for and returned to their rightful owners.
Read also:
- How millions flowed from individuals firms to service loan for hotel linked to ex-AGF Malami
- INC Election Crisis: Ijaw Groups accuse N-ELECO of undermining integrity after reinstating disqualified presidential aspirants
- Delta No-Go Area for opposition, Oborevwori boast, commissions major roads in Asaba
He urged the management of the Wole Soyinka Centre for Culture and the Creative Arts to utilise the recovered funds judiciously.
“We cannot suffer to recover this money for you and then have it used for purposes other than what it is meant for after receiving it from us,” he said.
“We have already asked you to tell us what you intend to do with it, and you should know that we will keep an eye on how it is utilised. Nigerians have always sought to know what the commission does with recovered funds.”
Olukoyede added that the EFCC would periodically monitor how the funds are applied.
“We will be visiting from time to time to monitor the progress of work. Our eagle eyes will be watching the pace of work. Do not tamper with the recovered funds. Use them for the benefit of Nigeria and all of us,” he said.
Receiving the bank drafts on behalf of the centre, Head of Finance and Accounts of the National Theatre, Jatto Kabiru, commended the commission for the recovery.
He assured that the funds would be used appropriately.
“We are most grateful for this remarkable feat of recovering this amount of money for us.
” The EFCC is one of Nigeria’s most effective and reliable law enforcement agencies. I assure you that the money will be used judiciously,” he said.
