EFCC returns N108 million from alleged fraud by Lagos firm staff

The Economic and Financial Crimes Commission has returned N108 million that was recovered from an alleged fraud involving two former workers to Karren Walters Attorneys in Lagos.

The agency made this known in a statement on Friday. It said the money, presented in bank drafts, was part of funds retrieved during an investigation into claims of abuse of office, forgery, stealing, and diversion linked to the two ex-employees of the firm.

The EFCC found that the suspects, Nkechi Gladys Megai, who is now on the run after reportedly fleeing to the United Kingdom, and Godson Eze, a former Chief Financial Officer of the company, misused their positions. They forged documents and created fake invoices in the names of the company’s real vendors. They also diverted funds through fraudulent transactions over time.

The agency noted that these fraudulent payments amounted to several hundreds of millions of naira.

During the handover ceremony, the Acting Zonal Director of the EFCC’s Lagos Zonal Directorate 2, Assistant Commander of the EFCC, Bawa Usman Kaltungo, said the commission is dedicated to making sure that victims of economic and financial crimes get justice.

He stated, “The Economic and Financial Crimes Commission remains committed to ensuring that victims of economic and financial crimes obtain justice and, where possible, recover assets fraudulently obtained from them.”

Kaltungo also mentioned that the commission is focused on making sure that everyone involved in the alleged fraud is held accountable.

He added, “Efforts are ongoing to ensure that all persons connected with the fraud, including those who have fled the country, are brought to justice in accordance with the law.”

The EFCC said the legal representatives of the company praised the commission for its thorough work in investigating the case.

In the statement, the lawyers “expressed appreciation to the EFCC for its painstaking investigation, professionalism and commitment to recovering the stolen funds.”

The commission mentioned that the legal representatives also assured it that “the recovered money would go a long way towards mitigating the losses suffered by the company.”

The EFCC confirmed that investigations into the case are ongoing as it steps up efforts to catch everyone linked to the alleged fraud.