EFCC Traces Huge Cash To Military Chiefs Wives, Children

                           

 Huge amount of cash has been traced to the accounts of the the wives and children of military chiefs as EFCC continues the chase after the $2.1billion arms scandal.
Source disclosed that the Agency will restrict access to such account this week.
Source close to the Investigation reveals that the former service chiefs acquired properties in the names of their wives, children and relations to hide their loots

 “Our investigators have uncovered that some of these military officers under probe stashed  their shares of the $2.1billion arms cash in the accounts of their relations, especially wives and children.

“We have traced such slush funds and we may freeze these accounts until we have screened the inflows and expenditures. The legitimately operated accounts will be freed after thorough screening.”

Besides, some houses belonging to the children and relations of some military chiefs have been identified as products of proceeds of financial crimes. “We have already marked the properties of one of the children of a top military brass. We have invoked Temporary Assets Forfeiture Clause in EFCC Act,”

“It is obvious that some of the arms cash were laundered through proxies, relations and phony companies. Some even registered companies in the names of their spouses or families.”The source said

Former Air Service Chief Alex Badeh was surmon Yesterday to the EFCC Headquarters but his interview was rescheduled due to operational reasons.

Some of the areas been investigated are

• How 10 contracts totalling $930,500,690.00 were awarded
• Payment of  N4,402,687,569.41 for unexecuted contracts
• Procurement of two used Mi-24V Helicopters instead of the recommended Mi-35M series at $136,944,000.00.
• 4 used Alpha-Jets for the NAF at US$7,180,000.00 funded by ONSA
• Cannibalization of engines from NAF fleet to justify procurement of jets
• Excessive pricing of 36D6 Low Level Air Defence Radar at $33m instead of $6m per one
• Delivery of radars without  vital component of Identification Friend or Foe (IFF) that distinguishes between own and adversary aircraft
• Strange transfer of $2m to Mono Marine Corporation Nigeria Limited owned by some Air Force officers
• N15bn lavished on the maintenance of its Alpha-Jets, C-130H aircraft and Mi-24V/35P helicopters.
• N2.5billion contracts awarded to Syrius Technologies( Ukrainian company) not registered in Nigeria
• Award of 7 contracts worth N599,118,000.00 contracts to Defence Industry Corporation of Nigeria(DICON) but two delivered.