Obanikoro has denied the ownership of Sylva Mcnamara, the company that allegedly got N4.745billion from Office of NSA.
According to a report by Nation Newspaper, Obanikoro denied owning the company even though he admitted that the company's account was used to remit part of the funds meant to purchase arms for the military.
“He told us that he is not the owner of the company in question but introduced the owner, Mr. Kareem Taiwo to the NSA, Mr. Sambo Dasuki when the threat of Boko Haram became more visible in Lagos," an EFCC source told Nation.
Defending why the money was remitted to Mcnamara, Obanikoro said he transferred over N2.2billion to Gov Ayo Fayose on the instruction of the ex-NSA.
He also said, the remaining funds was used in warding off of a plot by Boko Haram to attack Lagos.
An EFCC source said the ex-Minister said the government wanted to “incorporate local input into the intelligence gathering and prevention of terrorist attack on Lagos and the South-West in general.”
According to the source, Obanikoro maintained that part of the cash was used to ward off Boko Haram aggression in Lagos and in the South-West in general.