How ICPC recovered N100 million looted from Federal Pay Office

An official of the Federal Pay Office, Abeokuta, is currently assisting investigators from the Independent Corrupt Practices and Other Related Offences Commission, ICPC, to recover over N100m meant for the use of three government colleges in Ogun State, which he diverted for personal use.

Chairman ICPC, Ekpo Nta
Ekpo Nta, Chairman ICPC

The suspect, Olusegun Lawal, stole the funds budgeted for students’ meal subsidies and also payment of contractors carrying out developmental projects in the three schools.
The schools affected are Federal Government College, Odogbolu, Federal Government Girls College, Sagamu, and Federal Science Technical College, Ijebu-Mushin.
The suspect, over a two-year period, carried out an elaborate scam, whereby funds channeled to the three schools were diverted through the use of companies operated by him and his cronies.

ICPC Logo
ICPC

Between February, 2014, and March, 2015, Mr. Lawal allegedly diverted the monies sent to the three schools via the Zenith Bank account of the Pay Office and another Central Bank of Nigeria account and utilized the funds for personal purposes.

The amount he allegedly stole through the pay office account with Zenith is N61,150,691.75 while he also diverted a total of N42,520,755.00 from the CBN account. In all, he stole a total of N103,671,466.75.

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