Some "Big Men" Are Hiding Arms Deal Money in Accounts Run by Their Wives - Leystradamus.Com.Ng


Thursday, February 4, 2016

Some "Big Men" Are Hiding Arms Deal Money in Accounts Run by Their Wives

Some of the $2.1billion arms contracts cash have been traced to the accounts of wives and children of some top former and serving military chiefs, credible sources have revealed.

The EFCC, which is probing how the money was spent, has confirmed the accounts and will restrict access to all the identified accounts “this week”, so their wives can no longer withdraw the money.

On Wednesday, a former Chief of Defence Staff, Air Chief Marshal Alex Badeh, reported to the EFCC. But his invitation was rescheduled for Monday ”because of operational reasons”.

A source close to the investigation told The Nation that the former and serving officers under investigation acquired properties in the names of their wives, children and relations “to hide their loot”.

He said: “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,” the source said.

Responding to a question, the source said: “We have done enough ground work”, the results are coming.

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