‘Police yet to receive N700m from EFCC’

Posted by admin EFCC Politics, Nigerian Police Wednesday, February 15th, 2012

CONTRARY to the statement by the acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Larmorde, the police, on Wednesday, said they did not receive the N700million insurance money recovered from a former Inspector General of Police (name withheld).

Larmorde, while answering questions from members of the Senate on what happened to the recovered money during his screening for confirmation as the chairman of the anti-graft body, said that the amount meant for the banks were returned to them while the police equally got theirs.

Informed sources, however, disclosed to the Nigerian Tribune that over 15 letters were written by the former Inspector General of Police to the EFCC, urging it to release the N700million owed 704 families of deceased police officers and men for the 2003, 2004 and 2005 insurance years.

According to police sources, the money was part of entitlements, under the Group Personal Accident Insurance due to the next of kin of officers and men of the force who died in 2003, 2004 and 2005 insurance years .

The source noted that the scheme, which started in 2002, continued in 2003, 2004 and 2005 insurance years before the situation changed.

The N700million had remained unpaid till date due to non-availability of fund.

Nigerian Tribune gathered that police authorities had initially thought the money was N334.7million before the EFCC confirmed that the actual amount recovered for the insurance was N700million.

It was alleged that many insurance companies were involved in the scam and might have collaborated with the former IGP to embezzle the money.

A former Inspector General of Police, Sunday Ehindero, had directed that the matter be investigated by the Force CID and in the course of investigation, recovered N52.2million from various insurance companies involved in the scam, which was immediately used for the payment of some of the bereaved families.

-Tribunewp_posts