Arms Fund Probe: Presidential Committee Indicts Over 300 Companies, Recovers N7bn

The presidential committee set up to probe the award of contracts by the Office of the National Security Adviser (ONSA) between 2011 and 2015 has submitted its report to President Muhammadu Buhari, showing an indictment of over 300 companies.

Col Sambo Dasuki (rtd) who is presently standing trial for different corruption charges was the National Security Adviser for the period under review.

A number of popular figures and their companies are included in the list of persons who received sums of money without implementing any contract, were overpaid or only partially implemented contracts. The report stated that the sum of N7billion has already been recovered by the committee while efforts are being made to recover another N42bn from the indicted companies.

A statement by senior special assistant to the president on media and publicity, Garba Shehu, disclosed that “further investigation by the EFCC has been ordered to determine whether another N75 Billion should be recovered from some of the companies for unexecuted or partially executed contracts.”

Shehu equally stated that, “The committee further established that one of the indicted companies, Societe D’Equipment International was overpaid to the tune of 7.9 Million Euros and $7.09 Million.

“The committee which is different from the committee that is investigating the Defence Arms and Equipment Procurement, discovered that there was a total disregard of salient provisions of the Public Procurement Act in the award of contracts by ONSA.”

Daar Investment and Holdings owned by Chief Raymond Dokpesi, and Destra Investment Limited linked to spokesman of the People’s Democratic Party (PDP), Olisa Metuh, are listed among companies paid huge sums by the ONSA without implementing any contract.

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