Tope Oshin
Some of the $2.1billion arms deal cash have been traced to the accounts of wives and children of some former and serving military chiefs, The Nation is reporting.
The Economic and Financial Crimes Commission (EFCC), which is probing how the money was spent, may restrict access to all the identified accounts “this week”, a source said Wednesday.
Also, a former Chief of Defence Staff, Air Chief Marshal Alex Badeh, reported to the EFCC on Wednesday but his invitation was rescheduled for Monday ”because of operational reasons”.
It was learnt that the EFCC may interrogate Air Chief Marshal Badeh alongside some military officers who have also been invited.
According to a source close to the investigation, some of the former and serving officers under investigation acquired properties in the names of their wives, children and relations “to hide their loot”.
The source 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.
“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.”
Responding to a question, the source added: “We have done enough ground work to interrogate some of these former and serving military chiefs.”
“We have also summoned most of the former and serving military officers referred to EFCC for probe,” another source said.
http://thenationonlineng.net/efcc-traces-huge-cash-to-military-chiefs-wives-kids/?
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