N333 billion scam: Buhari brawls, orders immediate arrest of Sambo Dasuki and others.

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N333 billion scam: Buhari brawls, orders immediate arrest of Sambo Dasuki and others.

N333 billion scam: Buhari brawls, orders immediate arrest of Sambo Dasuki and others.
November 18
11:20 2015

The 13 man panel-committee set up by President Muhammadu Buhari to investigate the defense sector on the procurement of arms and ammunition from 2015 till date, has submitted its report to the President. The report largely indicts the former National Security Adviser, Col Sambo Dasuki, and others for mismanaging a sum of$2,193,815,000.83.
The President has ordered the arrest of Col Sambo Dasuki alongside others indicted by the report.
According to a statement by the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, Col Sambo Dasuki spent $2,193,815,000.83 on arms, a figure which, he said, did not include grants received by the police and the Department of State Services, DSS, from state governments.
Mr Femi Adesina said as part of the findings, the committee has analyzed intervention from some organizations that provided funds to the Office of the National Security Adviser, Defence Headquarters, Army Headquarters, Naval Headquarters, and Nigerian Air Force Headquarters, both in local and foreign currencies.
He said so far the total extra budgetary interventions articulated by the committee was Six Hundred and Forty Three Billion, Eight Hundred and Seventeen Million, Nine Hundred and Fifty Thousand, Eight Hundred and Eighty Five Hundred Naira and Eighteen Kobo (N643,817,955,885.18).
The foreign currency component was to the tune of Two Billion, One Hundred and Ninety Three Million, Eight Hundred and Fifteen Thousand US Dollars and Eighty Three Cents ($2,193,815,000.83).
Femi Adesina said these amounts excluded grants from the state governments and funds collected by the DSS and Police. He said the committee observed that in spite of this huge financial intervention, very little was expended to support defence procurement.

“The committee also observed that of 513 contracts awarded at $8,356,525,184.32; N2,189,265,724,404.55 and €54,000.00; Fifty Three (53) were failed contracts amounting to $2,378,939,066.27 and N13,729,342,329.87 respectively.

“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.  “The committee also discovered that payments to the tune of Three Billion, Eight Hundred and Fifty Million Naira (N3,850,000,000.00) were made to a single company by the former NSA without documented evidence of contractual agreements or fulfilment of tax obligations to the federal goverment.
“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 four 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.
“Even more disturbing was the discovery that out of these figures, two companies were awarded contracts to the tune of N350,000,000.00, $1,661,670,469.71 and €9,905,477.00 alone. This was without prejudice to the consistent non-performance of the companies in the previous contracts awarded.”
“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 SocieteD’equipmenteInternationaux in West Africa, United Kingdom and United States of America for un-ascertained purposes, without any contract documents to explain the transactions.
“The findings made so far are extremely worrying considering that the interventions were granted within the same period that our troops fighting the insurgency in the North East were in desperate need of platforms, military equipment and ammunition. Had the funds siphoned to these non performing companies been properly used for the purpose they were meant for, thousands of needless Nigerian deaths would have been avoided.
“Furthermore, the ridicule Nigeria has faced in the international community would have been avoided. It is worrisome and disappointing that those entrusted with the security of this great nation were busy using proxies to siphon the national treasury, while innocent lives were wasted daily.
“In light of these findings, President MuhammaduBuhari has directed that the relevant organizations arrest and bring to book, all individuals who have been found complicit in these illegal and fraudulent acts”, the statement submitted.

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