Embattled former Minister of State for
Defence, Senator Musiliu Obanikoro may soon be let out of custody by the
Economic and Financial Crimes Commission (EFCC) following indications that he
has agreed to make refunds of the money he allegedly collected from the Office
of National Security Adviser (ONSA).
The anti-graft agency accused the
ex-minister of collecting N785 million from ONSA while in office.
His friends and associates are understood
to be rallying around him to raise the funds as a first step to secure his
bail.
Obanikoro is understood to be
targeting N100 million as first
installment of the refund.
From ONSA, about N4.685 billon was transferred
to Sylva McNamara Limited, a company allegedly linked to the ex-Minister.
Obanikoro told EFCC interrogators that N3.880 billion of the N4.685 billion was
allocated to Governor Ayodele Fayose of
Ekiti State and Senator Iyiola Omisore.
He also said he handed over $5.377 million
(about N60 million then) cash to Fayose at Spotless Hotel, Ado-Ekiti in the
presence of the former Secretary of the Peoples Democratic Party in the state,
Dr. Tope Aluko and other party stalwarts.
He said the balance of N785 million was
expended on alleged anti-Boko Haram campaign in Lagos and the South-West.
A source, who spoke in confidence, said:
“The ex-minister has been cooperating with detectives and he appears willing to
refund some cash out of the N785 million traced to Sylvan McNamara.
“I think his associates and friends have
rallied around him, having discovered that the bulk of the cash from ONSA went
to Fayose and Omisore.
“I think he might initially refund N100
million to get bail reprieve in order to prevail on others who benefited from
the N785 million to repay the slush funds.
“The refund is one of the issues delaying
the granting of bail to the ex-minister.”
Obanikoro had said: “The balance of N785 milion were used to
prosecute the following: 1. procurement of souvenirs for the promotion of
anti-Boko Haram insurgency in Lagos; 2. N200million for surveillance
activities; 3. N200 million and other remaining funds were for operations
managed by Taiwo Kareem.
“Taiwo Kareem impressed the former NSA with
his management of pre and post-election funds. To God be the glory, the two
elections were carried out without any loss of life
“When bomb blast occurred in Lagos on the
25th of June 2014, the NSA was disturbed and told me of his commitment to
ensure that such doesn’t reoccur.
“He expressed the grave consequence that
the reoccurrence will have not only on Lagos but the economy of the entire
country.
“He emphasised the need for local input to
complement the activities of security agencies. This is how Sylvan McNamara was
introduced.”
The EFCC had discovered that Sylvan
Mcnamara Limited, allegedly owned by Obanikoro and his sons, was used to launder the N4.745 billion.
The company, which was incorporated in
November 2011 had the following as its directors: a close aide of the
ex-minister, Ikenna Ezekwe (700,000 shares) of 51 Simpson Street, Ebute-Metta;
Idowu Oshodi (299,000 shares) of 8, Prince Tayo Adesanya Street, Park View
Estate, Ikoyi; and Elizabeth Adebiyi (1,000 shares) of 3, Adedoyin Street,
Ijeshatedo, Surulere.
Ikenna Ezekwe’s account has been
de-frozen by the EFCC since the slush funds were not traced to him.
Ezekwe has also been removed as the
director of the slush company.
A document said: “To set the stage for the
use of the company for money laundering, the board of directors on May 7,
2012 passed a resolution that the
company should open an account and appointed Mr. Gbolahan Obanikoro, Ikenna
Ezekwe, Ms. Theresa Matuluko (Secretary) and Mr. Babajide Obanikoro as the
signatories to the account.
“The board added that the signing
combination be that any of the signatories can sign alone.”
EFCC claimed that when it was time to illegally draw the N4.745
billion from ONSA as war chest for Ekiti Governorship poll, ex-minister
Obanikoro made the account of Sylvan Mcnamara Limited available and coordinated
the disbursement.
However, Obanikoro’s spokesperson, Jonathan
Eze, said he was not aware of the development.
Another source close to him, however, said
“it is true.”
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