Information emanating from the Economic and Financial Crimes Commission, EFCC suggest that some of the looted $2.1b arms procurement fund have been traced to the accounts of wives and children of some former and serving military chiefs.
Abujacitynews learnt that the EFCC may soon block access to the accounts fingered in the offense.
A source close to the anti graft agency revealed that some of the indicted officers, both serving and retired acquired properties in the names of their family members in order to conceal their loot.
Another source close to the investigation told The Nation that the EFCC has made some interesting discoveries concerning the looted funds.
His words:
“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.
“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.
“We have done enough ground work to interrogate some of these former and serving military chiefs.
“We have also summoned most of the former and serving military officers referred to EFCC for probe,” he said.