Arms Deal Fraud EFCC reportedly finds huge sums of money in accounts of ex-service chiefs’ wives, children

The EFCC is also expected to restrict access to the accounts in question in order to continue its investigation.

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The Economic and Financial Crimes Commission (EFCC) has reportedly discovered large amounts of money connected to the $2.1 billion arms deal fraud in the accounts of wives and children of some former military chiefs.

The EFCC is also expected to restrict access to the accounts in question in order to continue its investigation, The Nation reports.

“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,” a source said.

“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.

“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.

“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,” the source added.

The EFCC is currently investigating Nigeria’s former service chiefs on the orders of President Muhammadu Buhari.

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