THE STENCH AT NIGERIA'S ANTI GRAFT AGENCY EFCC.

Allegations have continued to trail Nigeria's anti-graft agency, the Economic and Financial Crimes Commission EFCC over the non- remittance of confiscated funds from corrupt office holders.Another scandal seems to be brewing at the Commission over the recent revelation of recovered funds totaling N1.7 billion recovered from 15 companies but have not been transferred to the Federal Inland Revenue service FIRS. Mr George Uboh, Ceo Panic Alert System who appeared before the Senate Committee on Ethics, Priviledge and Public Petition disclosed yesterday that the over N1.7 billion recovered from 15 companies are overdue taxes on behalf of FIRS and have not been remitted as FIRS has denied receiving the money. The funds were said to have been recovered between 2010 and 2011 from 15 companies which include include Zakhem Construction Limited — N401m; Daewoo Nigeria Limited — N208m; WAPCO — N311m; Mikano International Limited —N16m; Protea Hotel, Apo Apartments — N10m; Reiz Continental Hotels — N32m; Coscharis Motors Limited — N130m; and Elizade Nigeria Limited — N555m,ITCC Technical Limited, Kaduna — N47m; Grand Ibro Hotel, Abuja — N14m; Efab Properties, Abuja — N19m; Le Meridien Hotel, Port Harcourt – N10m; Northern Nigeria Flour Mills Plc – N2.7m; Ni’ Ima Guest Palace – N2.8m; and Okomu Oil Palm Plc – N5m.