Providing updates on the matter in its monthly e-magazine titled EFCC Alert, the chairman of the anti-graft agency, Ola Olukoyede said over ₦30bn have been recovered while 50 banks are under investigation.

While providing more updates on the issue on Sunday, Oyewale said the recovered monies were part of the fraudulent dealings involving funds stolen by former Head of State, Late General Sani Abacha, COVID-19 funds, and the World Bank loan that were released to the ministry.

He said, “The EFCC has noticed the rising tide of commentaries, opinions, assumptions and insinuations concerning its progressive investigations into the alleged financial misappropriation in the Ministry of Humanitarian Affairs, Disaster Management and Social Development.

“At the outset of investigations, past and suspended officials of the Humanitarian Ministry were invited by the Commission and investigations into the alleged fraud involving them have yielded the recovery of ₦32.7billion and $445,000 so far.

He explained that the fund was released to the ministry to execute its poverty alleviation programmes.

The EFCC spokesperson further clarified that the officials of the ministry, including Edu, who were invited for interrogations have not been cleared by the agency.

“The EFCC is investigating a system and intricate web of fraudulent practices. Banks involved in the alleged fraud are being investigated. Managing Directors of the indicted banks have made useful statements to investigators digging into the infractions.

“Additionally, the EFCC has not cleared anyone allegedly involved in the fraud. Investigations are ongoing and advancing steadily. The public is enjoined to ignore any claim to the contrary,” Oyewole explained.

The social investment programmes were suspended following the scandal that rocked the humanitarian ministry, leading to Edu’s suspension