How 3 former Air Force chiefs diverted N21b public funds - EFCC

Following investigation into the illegal diversion of public funds to the tune of N21,467,674,707.43, the
Economic and Financial Crimes Commission has seized 29 properties from three former Air Force chiefs.

They are the immediate past Chief of Air Staff, Air Marshal Adesola Amosu; former NAF Chief of Accounts and Budgeting, Air Vice Marshal Jacob Adigun (retd.) and  former Director of Finance and Budget, Air Commodore Olugbenga Gbadebo (retd.).

The Punch reports that 11 properties were seized from Amosu; 12 from Adigun and six from Gbadebo. Among the properties are three plazas, six mansions, a quarry, a hospital, a block of flats, animal farms, a school, two hotels, some uncompleted buildings and  parcels of land.

According to the Punch report,  properties worth N9.6bn were seized from Adigun. Among the properties are Capadar Shopping Plaza situated at Adetokunbo Ademola Crescent, Wuse 2, valued at N980m; a residential mansion on Lake Chad Street, Maitama, Abuja, worth N450m; an executive mansion at Imo River Close, Off Dandube Crescent, Maitama, valued at N710m and a four-unit terrace on Agadez Street, Off Aminu Kano Crescent, Wuse 2, worth N720m.

Other properties, said to have been seized from Adigun, include a 35-room uncompleted hotel on Salt Lake Street, Maitama, Abuja; a parcel of land located on Bourdillon Street, Ikoyi, Lagos; a block of 12 service flats, located on Agodogba Street, Park View Estate, Ikoyi, estimated to be worth N1.8bn and a quarry in Bwari area of Abuja worth about $694,000.

According to a source quoted by The Punch, “Adigun spent most of his own share of the money on properties and so we did not recover much cash from him. Amosu, however, returned over N2.3bn and raised two bank drafts.”

The source listed some of the properties seized from Amosu as a house on Adeyemo Alakija Street, Victoria Island, Lagos, worth N250m; a duplex at House 11, Peace Court Estate, GRA, Ikeja, Lagos, worth N110m; a N40m property located at NAF Harmony Estate, Asokoro Base and a five-bed roomed house at Valley NAF Estate, Port Harcourt, worth N33m, a hospital on Adeniyi Jones Avenue, Ikeja, known as St. Solomon Hospital with equipment worth $2.15m and a N95m house on Umaru Dikko Street, Jabi, Abuja.

The properties seized from Gbadebo are said to include a  N10m fish farm ; a N20m poultry, located at Musa Close, Oyibo Ayobu, Lagos and  Bloomsville International School, Divine Estate, Isheri-Olofin , off Lagos-Ibadan Expressway.

The three former Air Force chiefs are expected to be arraigned by the EFCC this week.

The suspects are accused of diverting public funds to the tune of N21,467,674,707.43 in 2014.

Others to be arraigned alongside the three suspects are Delfina Oil and Gas Limited, McCallan Oil and Gas Limited, Hebron Housing and Properties Company Limited, Trapezites BDC, Funds and Pricey Limited, Degree Oil and Gas Limited, Timsegg Investment Limited and Solomon Healthcare Limited.

One of the charges partly says, “That you (accused persons) on or about the 5th day of March 2014 in Lagos, within the jurisdiction of this honourable court, conspired amongst yourselves to commit an offence to wit conversion of the sum of N21,467,674,707.43, property of the Nigerian Air Force which was derived from stealing which is contrary to Section18 (A) of the Money Laundering Act of 2012 (as amended) and punishable under Section 15 (3) of the same Act.”

The accused persons are also charged with using  some of the aforementioned companies, which they allegedly own, to award phoney contracts to themselves.