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EFCC: Huge Amount Of Money Traced To Families Of Serving And Retired Military Chiefs

by Odinaka

As the probe into the $2.1 billion arms deal scandal continues, it has been reported that the EFCC has traced some of the money to the accounts of wives and children of some former and serving military chiefs.

According to reports making rounds online, the Economic and Finanacial Crimes Commission (EFCC), has traced some of the huge amount of money to the accounts of wives and children of some former and serving military chiefs as the probe into the $2.1 billion arms deal scandal continues.
The Nation reports that the anti-graft agency may ‘restrict access to all the identified accounts this week.’ A source close to the investigation disclosed that some of the former and serving officers under investigation acquired properties in the names of their wives, children and relations to cover up 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.
 
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.”
According to the source, some properties belonging to some military chiefs’ children and relations have been identified as products of proceeds of financial crimes and they have been marked, adding that the commission had invoked Temporary Assets Forfeiture Clause in EFCC Act.
The source also said they had done enough ground work to enable them grill some of the former and serving military chiefs.
It can be recalled that we reported it here some weeks ago that former Chief of Defence Staff, Air Chief Marshal Alex Badeh and other army officers were indicted in the $2.1 billion arms scam and President Buhari had directed the EFCC to carry out further investigations into the activities of officers linked to the arms deal scam.

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