By Emma Ovuakporie
More former governors and top government functionaries serving and retired will face trialÂ next year as the Economic and Financial Crimes Commission, EFCC, concludes plans to file charges after it had carried out conclusive investigations on them.
It was reliably gathered yesterday that the jigsaw puzzle shrouding the money laundering tacticsÂ of former governors has been uncovered by operatives of the anti-graft agency who have been working round the clock in the last 12 months.
According to our source, the jigsaw puzzle with which these men launder money has been revealed because what they do is to expose the primary source ofÂ the laundered money and conceal other sources that it is channelled or transferred into.
The source added,â€œFor instance, an agency or company pays money into a particular company claiming that a deed has been perfected, then the company in turn pays out the money to the eventual beneficiaries.
â€œWhat this translates into is that theÂ money goes back to the primary source who initially paid out the money to the other company and once you miss this connectivity you start all over.â€
Situations like this make it almost impossible to track down culprits as they try as much as they can to conceal other sources that the money has been moved into.â€
The source explained further that most of these former governors, ministers and the key functionariesÂ junketing from one place to another will have a lot to vomit next year though we are trying to make them feel free before they are picked up.â€
What we have done is to quietly investigate them, give them the impression that all is well beforeÂ Â we get them into our nets as we enter into the new year.â€
On recovered monies the source said, the country had lost well over N500billion to corruption in the last 10 years but well over N50billion was recovered as at June this year though he cannot readily lay his hands on the current figures.
â€œAs for the bank debts, we have recovered over N200billion as at the first week of this December, debts from the numerous debtors scattered all over the country, but our priority next year is to get hold of government looted monies.”