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ICPC Reveals How Prominent Ex-Military Chief Stole N4B, Purchased Assets



A former military chief has been accused of stealing the sum of N4 billion from the military budget and depositing the fund into the accounts of two companies where he is a sole signatory and beneficial owner.

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Bolaji Owasanoye revealed this on Friday.

Owasanoye spoke during an event which was held at the ICPC headquarters in Abuja tagged, ‘National Policy Dialogue on Corruption and Insecurity in Nigeria’.


According to Owasanoye, the ex-military chief used the looted fund to purchase properties in Abuja.

He noted that the properties were bought under the names of cronies and proxies of the military chief.

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Owasanoye further stated that the ex-military officer also converted some of the properties paid for by his service to his use.

He said ICPC prosecution of the former military chief to recover all the assets has been frustrated by a High Court judge who recently retired.


Owasanoye claimed that the judge forfeited some of the assets to FGN and the rest was left to the suspect.

He said, “While the commission has filed a notice of appeal, this strange development aggravates an already bad situation and escalates insecurity and impunity.”

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He lamented that corruption has contributed to the insecurity in the country.


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