Tuesday, November 17, 2015 10:47 pm
“Interestingly, it was noted that the amount of foreign currency spent on failed contracts was more than double the $1bn loan that the National Assembly approved for borrowing to fight the insurgency in the North East.
“Further findings revealed that between March 2012 and March 2015, the erstwhile NSA, Lt Col MS Dasuki (rtd) awarded fictitious and phantom contracts to the tune of N2, 219,188,609.50, $1,671,742,613.58 and €9,905,477.00. The contracts which were said to be for the purchase of 4 Alpha Jets, 12 helicopters, bombs and ammunition were not executed and the equipment were never supplied to the Nigerian Air Force, neither are they in its inventory.
“Further findings revealed that between March 2012 and March 2015, the erstwhile NSA, Lt Col MS Dasuki (rtd) awarded fictitious and phantom contracts to the tune of N2, 219,188,609.50, $1,671,742,613.58 and €9,905,477.00. The contracts which were said to be for the purchase of 4 Alpha Jets, 12 helicopters, bombs and ammunition were not executed and the equipment were never supplied to the Nigerian Air Force, neither are they in its inventory.
“Additionally, it was discovered that the former NSA directed the Central Bank of Nigeria to transfer the sum of $132,050,486.97 and €9,905,473.55 to the accounts of Societe D’equipmente Internationaux in West Africa, United Kingdom and United States of America for un-ascertained purposes, without any contract documents to explain the transactions.
Join The Conversation