The Economic and Financial Crimes Commission (EFCC) has begun investigating alleged suspicious financial transactions worth more than N60bn involving members of the management of the Federal College of Education (Technical), Asaba, Delta State.
The probe follows a Federal High Court directive ordering law enforcement agencies responsible for investigating financial crimes to investigate the allegations and prosecute anyone found culpable.
The order was reportedly issued by Justice F.A. Olubanjo in Asaba on November 13, 2025.
Start tomorrow informed
Save your place for the morning brief. We’ll start emailing when delivery goes live.
Free. Confirm by email. Unsubscribe anytime.
A petition in the case alleged that members of the college’s management used a Central Bank of Nigeria account belonging to the Federal Government to conduct private business transactions.
The alleged transactions, said to have been ongoing since December 19, 2023, reportedly took place at a property along Kilometre One, Asaba-Ibusa Road, within Iyi Abi farmland, Umuonaje Quarters, Asaba.
The property is said to belong to the community head of Uti Edem Ojeada Village, who reportedly brought the alleged financial activities to the attention of the authorities.
The community head, who is also the petitioner, reportedly confirmed that the EFCC had commenced investigations following the court order.
The allegations have raised questions about the ownership, control and use of funds allegedly processed through an account meant for Federal Government financial operations.
The Inspector-General of Police was also said to have directed that anyone found culpable should be charged before a court of competent jurisdiction.
However, the allegations remain subject to investigation, and no findings of guilt against the college management have been established.
Discussion0