Monday, July 26, 2021

    If EFCC is Serious about Fighting Corruption, then Olonisakin, Buratai, Other Ex-Service Chiefs Must Face Prosecution for Squandering N2.6trillion On Arms, $1billion ECA Funds

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    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    If NIgeria’s Economic and Financial Crimes Commission, EFCC under the leadership of Abdulrasheed Bawa,is really serious of tackling corruption, then it’s must immediately start by tackling past service chiefs who held the military command under President Muhammadu Buhari for about six years spent more than N2.659 trillion on military arms and ammunition between 2015 and 2019, records have revealed.

    Our source learnt that the N2.659 trillion is outside the controversial $1 billion Excess Crude Account Fund which was approved by Buhari in April 2018 despite public outcry.

    The $1 billion was nonetheless approved and released, partly because the former military chiefs impressed upon the National Assembly that they did not have enough funds to fight the insurgency.

    The N2.659 trillion for military arms was the total, according to records, for 2015, 2016, 2017, 2018 and 2019 and was shared among the immediate past Chief of Army Staff, Lt Gen Tukur Buratai (retd.), the former Chief of Defence Staff, General Abayomi Olonisakin (retd.), the former Chief of Naval Staff, Vice Admiral Ibok-Ete Ibas (retd.) and the former Chief of Air Staff, Air Marshal Sadique Abubakar (retd.).

    The breakdown shows that “in 2015, the military spent N397 billion on arms; in 2016, N444 billion; in 2017, N495 billion; in N2018; N654 billion; in 2019; N669 billion.”

    According to the Stockholm International Peace Research Institute, a Sweden-based group which documents military transactions globally, Nigeria within these years bought arms from at least 13 countries.

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