The Economic and Financial Crimes Commission (EFCC) and the Inspector-General of Police, (IGP), have commenced investigations into an alleged ₦60 billion money laundering operation reportedly involving members of the management team of the Federal College of Education (Technical), Asaba, Delta State.
Given the magnitude of the alleged transactions, the investigation is expected to establish the source, movement and beneficiaries of the funds, as well as determine whether any laws were breached in the process.
The development follows a Federal High Court order issued in Asaba on November 13, 2025, directing relevant law enforcement agencies responsible for investigating financial crimes to investigate and prosecute individuals allegedly connected with the activities.
The allegations, contained in a petition filed by the Community Head of Uti Edem Ojeada Village, Umuonaje Quarters, Asaba, centre on the purported use of a federal government Central Bank account to facilitate private business transactions.
According to the petition, the alleged financial activities commenced on December 19, 2023, at Iyi Abi farmland, situated along Kilometre One, Asaba-Ibusa Road, Umuonaje Quarters, Asaba.
The petitioner alleges that transactions exceeding ₦60 billion were conducted in connection with the operation, raising serious concerns about the alleged use of government-linked financial facilities for private commercial interests.
The community head disclosed that the EFCC had commenced investigations into the allegations, expressing expectations that the commission would thoroughly examine the transactions and establish the identities and respective roles of those allegedly involved.
In a related development, IGP is also said to have directed the Commissioner of Police, Delta State Command, to take necessary steps to ensure that the matter is charged before a competent court over the alleged offences.
The unfolding development has raised questions about financial accountability, transparency in public institutions and the possible misuse of government financial facilities for private business activities.
Further developments are expected as the EFCC and the Nigeria Police Force pursue their respective investigative processes.
