SHOCKER: EFCC says $15bn was stolen, not $2.1bn

The Economic and Financial Crimes Commission, EFCC, has made shocking discoveries in the course of investigating the  diversion of $2.1bn meant for prosecution of the war against terror group, Boko Haram.

It was learnt on Tuesday that the EFCC discovered that the total anti-insurgency money diverted by various personalities and agencies was over $15bn and not $2.1bn.

The $2.1bn represents the arms cash placed under the Office of the National Security Adviser, then headed by the immediate past NSA, Col. Sambo Dasuki (retd.).

Ex-military chiefs, including a former Chief of Defence Staff, Air Marshal Alex Badeh (retd.); and former Chief of Air Staff, Air Marshal Adesola Amosu (retd.), have been quizzed for their alleged roles in the arms scam.

Badeh and Dasuki are still standing trial on charges relating to the alleged fraud.

A top source at the commission who pleaded for anonymity, said the EFCC and the presidential panel on arms procurement, during investigations discovered that $2.1bn fraud was just for one of the several transactions.

The source added that the commission discovered that top military officers deliberately incorporated companies to divert anti-insurgency funds for their personal purposes.

“We have discovered that the total money in the arms scandal is over $15bn, not $1.2bn that was initially discovered. The $2.1bn was just for one transaction. Many of these military officers set up companies for the purpose of diverting money meant for the prosecution of the anti-insurgency war,” he said.

SOURCE: PUNCHNG