EFCC Seizes N4bn Estate From Former Chief of Army Staff

The Economic and Financial Crimes Commission (EFCC) has seized an estate valued at over N4bn from a former Chief of Army Staff, believed to have been illegally acquired from proceeds of crime.
The estate under forfeiture is said to be so massive and valued at about N4n.
The estate sited between Jabi and Life Camp is said to contain more than 30 duplexes built to taste.
The estate, which has been placed under Interim Asset Forfeiture, was confiscated on account of the ongoing probe of the ex-Army Chief over $2.1bn arms deals.
A reliable source at the EFCC said: “The ex-Army Chief was referred to the EFCC based on the report of the Presidential Committee on Audit of Defence Equipment, headed by Air Vice Marshal John Ode.
“We are still investigating the ex-Army Chief and he will soon be interrogated. But in line with our modus operandi, we have been able to trace his suspicious assets which we have attached under Interim Asset Forfeiture.
“In this case of the ex-Chief of Army Staff, his children and friends were used as fronts for money laundering.
“We have traced many suspicious accounts linked with the ex-Army boss. Most of these accounts have been frozen.
“Some of our operatives have been working on documents in the Office of National Security Adviser (ONSA) on evidence relating to these scandalous procurement deals.
The Presidential Committee on Audit of Defence Equipment Procurement (CADEP) also traced about N2bn meant for the purchase of vehicles for the Nigerian Army, to the accounts of five children of the former Army chief.

Author: News Editor

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