EFCC Traces Huge Cash To Military Chiefs’ Wives, Kids

Some of the $2.1billion phoney arms contracts cash have been traced to the accounts of wives and children of some former and serving military chiefs, The Nation has learnt.The Economic and Finanacial Crimes Commission (EFCC), which is probing how the money was spent, may restrict 

access to all the identified accounts “this week”, a source said yesterday.Also yesterday, a former Chief of Defence Staff, Air Chief Marshal  Alex Badeh, reported to the EFCC.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.A source close to the investigation said 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.
The Nation