The Economic and Financial Crimes Commission (EFCC) has reportedly commenced an investigation into an alleged money laundering operation involving members of the management of the Federal College of Education (Technical), Asaba, Delta State, over suspicious financial transactions estimated at more than ₦60 billion.

The investigation reportedly followed a Federal High Court order by the presiding Judge, Justice F.A. Olubanjo, issued in Asaba on November 13, 2025, directing relevant law enforcement agencies responsible for investigating financial crimes to investigate and prosecute individuals found culpable in connection with the allegations.

The petition alleged that members of the college’s management were involved in using the Federal Government’s Central Bank account to conduct private business transactions, raising questions about the alleged diversion and misuse of public financial resources.

According to the allegations, the questionable financial activities have been ongoing since December 19, 2023, at premises located at Kilometre One, Asaba-Ibusa Road, within the Iyi Abi farmland, Umuonaje Quarters, Asaba.

The property reportedly belongs to the Community Head of Uti Edem Ojeada Village, who is said to have brought the alleged financial dealings to the attention of the appropriate authorities.

The community head, who is also the petitioner in the matter, reportedly confirmed that the EFCC had commenced investigations into the alleged transactions following the court’s directive.

The allegations, involving more than ₦60 billion, have placed the management of the institution under scrutiny, particularly over questions surrounding the ownership, control and utilisation of funds allegedly processed through an account meant for Federal Government financial operations.

The Inspector-General of Police has reportedly directed that individuals found culpable in the matter should be charged before a court of competent jurisdiction to face the consequences of their actions. (Guardian)