N3.47 Trillion Corruption Storm: Buhari-Era Powerbrokers Under EFCC Dragnet
Several senior figures linked to the administration of former President Muhammadu Buhari are currently facing investigations and prosecutions over alleged corruption amounting to an estimated ₦3.47 trillion, in what is shaping up to be one of Nigeria’s most expansive post-administration accountability drives.
At the centre of the unfolding storm are former ministers and top government officials widely regarded as close allies of the late former president and prominent members of the ruling All Progressives Congress (APC). The Economic and Financial Crimes Commission (EFCC) has intensified actions against key figures who served in strategic positions during Buhari’s eight-year tenure.
One of the most prominent names under investigation is Dr. Chris Ngige, former Minister of Labour and Employment, who is being probed over an alleged ₦2.2 billion fraud connected to ministry-related contracts and disbursements.
In November, the EFCC also declared Timipre Sylva, former Minister of State for Petroleum Resources, wanted over an alleged ₦21.4 billion fraud. Sylva worked closely with Buhari, who doubled as President and substantive Minister of Petroleum Resources throughout much of his administration, placing the case at the heart of Nigeria’s oil governance structure at the time.
Similarly, former Minister of Aviation and longtime political associate of Buhari, Hadi Sirika, is currently facing charges over an alleged ₦2.7 billion fraud tied to aviation projects, including airport rehabilitation and consultancy contracts.
However, the most far-reaching and financially weighty allegations surround the immediate past Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. According to the EFCC, Emefiele allegedly arbitrarily allocated foreign exchange worth ₦3 trillion (approximately $2 billion) without competitive bidding or due process, actions investigators say conferred undue advantages on cronies and associates.
Further allegations against the former apex bank chief include the operation of 593 bank accounts across multiple countries, the unlawful acquisition of a 753-unit housing estate in Abuja, and the alleged mismanagement of over ₦16 billion in public funds. His tenure coincided with some of Nigeria’s most aggressive monetary interventions, including expansive “ways and means” financing that has since drawn intense scrutiny from lawmakers and economists.
Collectively, the cases signal a major reckoning for powerful figures of the Buhari era and underscore renewed emphasis on accountability in public office. As investigations deepen and prosecutions advance, the outcomes are expected to have far-reaching implications for governance, party politics, and Nigeria’s anti-corruption credibility.
Sources:
Premium Times, TheCable, Vanguard, Punch, ThisDay, Daily Trust, and official EFCC statements.