Economic and Financial Crimes Commission (EFCC) has alleged collusion between commercial banks and government officials to re-loot recovered funds from Sani Abacha, late dictator.

Sani Abacha

The $322 million Abacha loot, recovered in December 2017 and earmarked for Conditional Cash Transfer under the Social Investment Programme, was intended to provide monthly stipends to vulnerable Nigerians.

However, Dele Oyewale, spokesperson for the EFCC, disclosed that investigations have uncovered financial malpractices involving COVID-19 funds and World Bank-assisted loans coordinated by the Humanitarian Ministry. Several interdicted and suspended officials of the ministry have been linked to the alleged malfeasance, with N32.7 billion and $445,000 recovered from them.

Managing directors of implicated banks have provided statements, and investigations are ongoing, with former minister Sadiya Umar-Farouq and her successor, Beta Edu, summoned for questioning.

The EFCC stressed that the probe targets a systemic issue rather than individuals, signaling a crackdown on corruption within Nigeria’s financial sector and government agencies.

The eagerly anticipated E3 Conference, hosted by FITC, is back for its fourth edition, poised to set new benchmarks in the realm of employee engagement and organizational sustainability.

Themed, “Redefining HR Through AI & Digital Transformation for Organizational Sustainability,” the conference is scheduled to take place on April 17th and 18th.

In a statement, FITC says the E3 Conference stands as a beacon of innovation, bringing together thought leaders, industry experts, policymakers, and professionals from across Africa and beyond.

It explained that in today’s fast-paced landscape, technology such as AI and automation is reshaping the dynamics of human resource management.

“The E3 Conference is dedicated to unravelling the potential of these advancements, focusing on topics ranging from talent mobility to the latest trends in managing talent. It’s a journey towards understanding and embracing these transformative shifts, ensuring that businesses are primed for the future of HR.

“With a stellar lineup of over 24 speakers, including C-suite Executives, Subject Matter Experts, and Thought Leaders from various sectors, the conference promises to deliver insights that transcend conventional boundaries. Attendees can expect deep dives into strategies for enhancing productivity, streamlining processes, and maximizing global talent mobility through AI and automation, “it stated.

“Keynote speakers such as Evi Ifekwe, Executive Director of People & Country Services at TotalEnergies EP Nigeria Limited, and Wale-Smatt Oyerinde, Director-General of NECA, alongside a faculty lineup comprising industry stalwarts, will spearhead discussions on critical issues shaping the future of work.

The two-day hybrid event will feature four plenary sessions and two master classes, providing attendees with ample opportunities for networking, knowledge exchange, and interactive engagement.

Participants will delve into topics such as the impact of AI on the future of work, data-driven performance management, and strategic implementation of AI in HR.

The conference is expected to provide insights into cutting-edge strategies for professionals and HR leaders who will gain invaluable insights from industry pioneers on leveraging AI and digital transformation to drive organizational sustainability and employee engagement, “it stated.

“As organisations worldwide grapple with the complexities of the new normal, the E3 Conference serves as a beacon of hope and enlightenment, offering practical solutions and visionary insights to navigate the challenges ahead, ” the company said.