THE House of Representatives Committee on Financial Crimes seems to have absolved the former chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Lamorde, of the allegation of N1trillion theft that was the subject of a Senate committee probe towards the end of his tenure at the anti-graft agency.

Chairman of the House Committee, Kayode Oladele, in an interview with The Guardian stated that the committee could not establish the veracity of the allegation made by one George Uboh against Lamorde last year.

Oladele, stated that even the current acting chairman of the EFCC, Ibrahim Magu told the committee that it was not possible to tamper with exhibit, adding that such monies recovered from suspects are regarded as exhibits, which must be returned to owners if they are acquitted of the case.

“We have cases pending in court. Any money recovered cannot be paid into the federation account until the court convicts that person and there is order of forfeiture. To that extent, money recovered by the EFCC still belongs to the owners until that person is convicted. So if EFCC retrieved trillions from people, many cases are still pending in court and we believe that such monies are being held in trust in an account, they call it Recovery Account, pending that person’s conviction.

“So how would anybody take an exhibit? What if tomorrow the person is released and acquitted, who pays the money? And up till today, we have not been told that anybody said after his acquittal, he has not been given his money back. As a matter of fact, the money is paid into an account with compound interest,” he said.

Oladele described the petition against the EFCC and Lamorde, as a case of corruption fighting back. According to him, the petitioner, Uboh, is being investigated by the EFCC in connection with allegations of fraud at Police Equipment Fund.