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N4.7bn arms funds traced to Obanikoro, Fayose —EFCC

on Tuesday,the EFCC said it had made a breakthrough in how over $15bn was swindled from the account of the Office of the National Security Adviser during the administration of former President Goodluck Jonathan. The EFCC,has frozen the bank accounts of the Ekiti State Governor, Mr. Ayodele Fayose, and the account of a company, belonging to the two sons of a former Minister of State for Defence, Musiliu Obanikoro, said it had recovered evidence of the alleged illegal transactions from the banks.

The bank tellers and other relevant documents, which were made available, showed that the fraudery took place between April 4, 2014, and December 15, 2014, when a total of N4.745bn was paid into the Diamond Bank account of Sylvan McNamara.A source at the EFCC said, “The entire fraud started from the company that Obanikoro’s sons were operating. The company was set up by some people but curiously made Obanikoro sons signatories to the account."It 
was learnt that after money was paid into the firm’s account, about N759,384,300 was transferred into the accounts of about six bureau de change operators.


The two bureau de change operators, who received the bulk of the funds, were A. A. G. B.S Oil and Gas and North Line Limited. While A. A. G. B. S received N168m on June 16, 2014, North Line Limited received N835,000 on July 14; N83,750,000 on June 17; N1, 680,000 on 
September 3, 2014; about N2,325,300 on September 9; N5,932,500 on September 17 and N842,500 on July 30.


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