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Finance Minister Suspends Accountant General Over N80bn Fraud, Postpone FAAC

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has suspended the Accountant General of the Federation, Ahmed Idris over allegation of N80bn fraud.

This is contained in a letter written by the Minister to the AGF.

The suspension came just as the ministry has postponed the Federation Account Allocation Committee meeting.

The circular reads, “I am directed to inform you that the Federation Account/Allocation Committee (FAAC) meetings earlier scheduled to hold/virtually on the 18th and 19th May 2022 have been postponed due to/certain circumstances,” the circular reads.

“In view of the foregoing, I am to further inform you that the new date for the meetings will be forwarded to you in due course.

“While we regret the inconveniences this change might cause you, please accept the assurances of the Honorable Minister’s warm regards.”

The FAAC meeting is a monthly meeting where the federation allocates monthly revenue among the three tiers of government.

The meeting was initially scheduled to hold on May 18 and 19, 2022.

Operatives of the Economic and Financial Crimes Commission, had on Monday, arrested Idris over allegations bothering on money laundering to the tune of N80bn.

The EFCC noted that the AGF’s arrest followed verified intelligence that he allegedly “raked off the funds through bogus consultancies and other illegal activities using proxies, family members and close associates.”

The Commission’s Spokesperson, Wilson Uwujaren in a statement said the funds were laundered through real estate investments in Kano and Abuja.

“Mr Idris was arrested after failing to honour invitations by the EFCC to respond to issues connected to the fraudulent acts,” the EFCC said.

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