A Bureau de Change (BDC) operator has testified in court, revealing the diversion of over ₦22 billion from the Federal Ministry of Power under the tenure of former Minister Saleh Mamman. The testimony was part of an ongoing trial regarding an alleged ₦33.8 billion fraud linked to the ministry.
According to the operator, large sums were transferred to his accounts by the ministry, which he subsequently disbursed to various entities on the instructions of Mamman and his associates. The funds were allegedly siphoned through dubious contracts and other illicit schemes.
The Economic and Financial Crimes Commission (EFCC) disclosed that investigations revealed a complex web of transactions involving multiple accounts, aimed at concealing the origins of the funds. The agency also stated that the funds were part of allocations meant for critical power projects across the country.
The operator explained that between 2018 and 2021, he received numerous payments from the ministry, totaling over ₦22 billion. He claimed he was unaware of the fraudulent nature of the transactions, asserting that he merely followed instructions from clients linked to the former minister.
Saleh Mamman, who served as Minister of Power from 2019 to 2021, has denied all allegations, describing them as politically motivated. However, the EFCC insists that the evidence, including bank statements and other financial records, strongly implicates him and other officials in the ministry.
The trial continues, with prosecutors determined to recover the misappropriated funds and ensure accountability for those involved. Meanwhile, civil society organizations have called for greater transparency in the management of public funds, especially in key sectors like power, which are critical to Nigeria’s development.
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