NIMASA Fraud: Another $1.6m Traced To ex-NAF Budget Boss.
The Economic and Financial Crimes Commission has traced another $1.6million to a former Director of Finance and Accounting at the Nigerian Air Force, Air Commodore S.A. Yushau (retd).
Yushau was on February 17, 2016, moved to Lagos alongside the immediate past Chief of Defence Staff, Air Chief Marshal Alex Badeh (retd.), over a fresh investigation involving the Nigerian Maritime Administration and Safety Agency, NIMASA.
As part of efforts to ensure improved security in the Nigerian maritime sector, NIMASA on August 26, 2013, signed an agreement with the Air Force with a view to providing effective air surveillance and monitoring of the nation’s coastal area.
Badeh, who was the then Chief of Air Staff, signed on behalf of the Air Force while Mr. Patrick Akpobolokemi, who was the Director-General of NIMASA, signed on behalf of the maritime agency.
In furtherance to the MoU, N4.4bn (in dollars and naira) was reportedly transferred from the bank account of NIMASA to the air force. However, EFCC investigations revealed that the money was diverted to private accounts.
Yushau, who was the Director of Finance and Accounts when the MoU was signed, was said to have diverted $1.6m which was transferred to the air force account by NIMASA shortly before his retirement.
A top inside source at the EFCC told Punch on the condition of anonymity that out of the money, Yushau gave $800,000 to Badeh.
He, however, said Badeh denied receiving the money.
The source said, “We traced about $1.6m to Yushau who was the Director of Finance and Accounts in 2013.In his statement, he said he gave $800,000 to Badeh while Badeh gave him permission to take another $800,000 as a retirement gift.
“He (Yushau) said he spent part of the money on building a house in his home state in the North but the building collapsed. He said he invested the remaining money in some businesses so we are trying to see if we can recover some of his assets.
“However, Badeh has denied the allegations and we are still holding him.”
The source said the anti-graft agency had traced about five properties in Abuja belonging to Badeh but added that the retired military officer had denied ownership of the properties.
“We have traced about five properties we believe were bought by Badeh through proxies but he has denied ownership of all the properties. Badeh is really giving us a tough time.”
Yushau was on February 17, 2016, moved to Lagos alongside the immediate past Chief of Defence Staff, Air Chief Marshal Alex Badeh (retd.), over a fresh investigation involving the Nigerian Maritime Administration and Safety Agency, NIMASA.
As part of efforts to ensure improved security in the Nigerian maritime sector, NIMASA on August 26, 2013, signed an agreement with the Air Force with a view to providing effective air surveillance and monitoring of the nation’s coastal area.
Badeh, who was the then Chief of Air Staff, signed on behalf of the Air Force while Mr. Patrick Akpobolokemi, who was the Director-General of NIMASA, signed on behalf of the maritime agency.
In furtherance to the MoU, N4.4bn (in dollars and naira) was reportedly transferred from the bank account of NIMASA to the air force. However, EFCC investigations revealed that the money was diverted to private accounts.
Yushau, who was the Director of Finance and Accounts when the MoU was signed, was said to have diverted $1.6m which was transferred to the air force account by NIMASA shortly before his retirement.
A top inside source at the EFCC told Punch on the condition of anonymity that out of the money, Yushau gave $800,000 to Badeh.
He, however, said Badeh denied receiving the money.
The source said, “We traced about $1.6m to Yushau who was the Director of Finance and Accounts in 2013.In his statement, he said he gave $800,000 to Badeh while Badeh gave him permission to take another $800,000 as a retirement gift.
“He (Yushau) said he spent part of the money on building a house in his home state in the North but the building collapsed. He said he invested the remaining money in some businesses so we are trying to see if we can recover some of his assets.
“However, Badeh has denied the allegations and we are still holding him.”
The source said the anti-graft agency had traced about five properties in Abuja belonging to Badeh but added that the retired military officer had denied ownership of the properties.
“We have traced about five properties we believe were bought by Badeh through proxies but he has denied ownership of all the properties. Badeh is really giving us a tough time.”
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