Nigeria’s graft fighting commission accused of diverting $15 billion in recovered assets

The chairman of Nigeria’s corruption-fighting Economic and Financial Crimes Commission is appearing before the Senate to answer accusations that he diverted billions of dollars.

Ibrahim Lamorde is responding to allegations that he and other commission officers diverted 1 trillion naira (about $15 billion) in recovered assets with the collusion of banks and real estate agents.

A commission statement Tuesday said the charges are ludicrous and politically motivated.

READ ALSO – Anti-graft laws effect on Nigeria’s property market

The Senate investigation comes as Lamorde’s commission has summoned a slew of people for investigation as it pursues new President Muhammadu Buhari’s pledge to stamp out corruption. More people have been investigated since Buhari took office in May than in the six years of the previous administration.

Buhari said he inherited empty state coffers and last month charged $150 billion has been stolen.