How Air Force ex-chief siphoned N12 billion, by EFCC | The Guardian Nigeria News - Nigeria and World News

An investigator with the Economic and Financial Crimes Commission , Tosin Owobo, yesterday told a Federal High Court, Lagos how a former Chief of Accounts in the Nigerian Air Force, Air Vice Marshal Jacob Bola Adigun , used his companies to siphon N12 billion from the force’s intelligence account domiciled with a new generation bank.

Led in evidence by the prosecution counsel, Rotimi Oyedepo, Owobo told Justice Chukwujekwu Aneke that sequel to the signing of a memorandum of understanding between the Nigerian Maritime Administration and Safety Agency and NAF, N3 billion was paid into the NAF Special Emergency Operation Account domiciled with the financial institution in three tranches of N1billion.

The EFCC witness said: “As part of the investigation, we invited the Managing Directors of Right Options Oil & Gas, Judah Oil & Gas and Lebol Oil & Gas Limited, who stated in their statements that they were Bureau De Change operators and not oil dealers. Owobo added: “They also stated that their companies were registered as oil & gas companies because they were given a high threshold of monies that could be transferred with fewer deductions.”According to him, investigations further revealed that certain monies that did not originate from NIMASA were paid from other NAF accounts into the NAF Special Emergency Operation Account. The money, he said, was in turn moved into several other accounts to the tune of about N15 billion.

Efcc good job,god help u especially Mr magu

What is wrong with these guys for crying out loud? These guys are heartless.

Reading these graft cases is so disheartening. How was it possible for service officers to become so gready to the extent that they were no longer interested in inflating contract, they wantonly stole it? Judge please do your job, lock them away.

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