Related Articles
SaharaReporters had reported in August how the ICPC recovered billions of Naira from former Chief of Army Staff, Lt Gen Tukur Buratai (retd.) to the Central Bank.
Thank you for reading this post, don't forget to subscribe!The Chairman of the Independent Corrupt Practices and other related offences Commission (ICPC), Prof Bolaji Owasanoye, has disclosed that an ex-military leader stole N4billion from the military budget and deposited it in the accounts of two firms where he is the beneficial owner and sole signatory.
He added that some of the houses bought with funds from his service were also fraudulently converted for his use, and that the revenues from the plunder were used to buy homes in Abuja in the names of the military chief’s friends and proxies.
Owasanoye revealed this on Friday during an event tagged, “National Policy Dialogue on Corruption and Insecurity in Nigeria,” held at the ICPC headquarters in Abuja.
SaharaReporters had reported in August how the ICPC recovered billions of Naira from former Chief of Army Staff, Lt Gen Tukur Buratai (retd.) to the Central Bank.
SaharaReporters had exclusively reported how the ICPC recovered funds (including foreign currencies) from a house registered to someone fronting for Buratai, a military contractor and Managing Director of K Salam Construction Company Nigeria Limited, Mr. Kabiru Sallau.
Company Nigeria Limited, Mr. Kabiru Sallau.
In March 2021, Nigeria’s National Security Adviser (NSA), Babagana Monguno revealed that funds running into billions of naira meant for the procurement of arms and ammunition under the past service chiefs were unaccounted for.
But it was not clear if the ICPC chairman in his speech on Friday was referring to Buratai.
He noted that research and investigations by the National Security Agency and the ICPC on the issue of insecurity had shown that public sector corruption directly and indirectly enabled insecurity and could sometimes complement it.
He said, “Some former military and security personnel are being investigated by the ICPC and our sister agency (the Economic and Financial Crimes Commission) for embezzlement of funds allocated to security.
“For example, a former head of one of the arms of the military, in the twilight of his tenure, deposited the sum of N4billion from the military budget into the accounts of two companies where he is the beneficial owner and sole signatory.
“The proceeds were used to purchase properties in Abuja in the names of cronies and proxies. Some of the properties paid for by his service were also fraudulently converted to his use.
“ICPC’s prosecution of this high ranking officer to recover all the implicated assets was strangely and perversely frustrated by a recently retired High Court judge who decided to forfeit some of the assets to FGN and the rest left to the suspect.
“While the commission has filed a notice of appeal, this strange development aggravates an already bad situation and escalates insecurity and impunity.”
He stated that there are several incidents of employment racketeering in the security industry, and that many of them are being investigated by the ICPC.
Owasanoye said corruption was a major contributory factor to the continued existence and propagation of insecurity in the country.
The ICPC chief bemoaned Nigeria’s growing security issues, stating that the consequent impact on the country’s economy and image has continued to worry Nigerians, particularly leaders in the three branches of government and anti-corruption practitioners.
