Missing N25B: EFCC Investigates Aviation Minister, FAAN Executives

SAN FRANCISCO, Feb 21, (THEWILL) – The Minister of Aviation, Mrs. Fidelia Njeze and other top executives of the Federal Aviation Authority of Nigeria (FAAN) are presently being investigated by the Economic and Financial Crimes Commission (EFCC) following the alleged disappearance of N25 billion naira from the accounts of the aviation agency headed by Dr. Richard Aisuebeogun.

EFCC spokesman, Mr. Femi Babafemi who confirmed that the agency has started its investigations said it acted following a petition received from an anti-corruption group, TCN Transparency Centre Network based in Kaduna, which accused a top management official of FAAN of diverting FAAN funds into a personal account with the knowledge of the Minister.

The funds in question are from a revenue concessionaire to FAAN named MAEVIS.

The EFCC is also investigating the disappearance of N40 billion naira in oil and gas concession to the aviation agency.

According to the petition written by TCN earlier published on THEWILL, the group said, “The Management of FAAN has collected not less than N25 BIILON and $6m from the MAEVIS project in 28 months. The management cannot account for this huge money, which was generated from only 6 sources. PART OF THIS MONEY WAS DEPOSITED IN PRIVATE ACCOUNT OF AN OFFICIAL OF FAAN. We call on EFCC, and ICPC to investigate this information. Over 50% OF THE FAAN CONCESSIONARES IN FOOD AND BEVERAGES AND OIL AND GAS are not documented with any agreements as many of them are owned by fronts of the top managers,'' the petition stated.

Giving details of how the organisation had lost several billions in revenue, the group stated that, ''FAAN MANAGERS HAVE FRUSTRATED FURTHER ATTEMPTS TO RECORVER ABOUT N40 BILLION IN OIL AND GAS CONCESSION.

“The Minister of Aviation is aware of this because she set up a Review panel and the report is lying on her table without implementation. “REF FMA/FAAN/7090/173, February 2010.”

“There is serious security implication with some of the Oil and Gas supply management for airlines at the airport which have not been properly handled because of collusion with officials of FAAN,” the petition further stated.