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19 Oct 2016

Details of how Obanikoro spent N4.745B

The full details of how ex-Minister of Defence for State, Musiliu Obanikoro spent the N4.745billion, which he got from the office of the ex-NSA has been revealed.

In a recent report by Nation newspaper, EFCC sources detailed how the former Senator disbursed the funds, which were part of the  $2.1billion meant for arms from the Office of the National Security (ONSA).

According to EFCC's investigation, N4.745billion was wired into Sylva Mcnamara within seven months in 2014.

Below are details of how the funds were disbursed.

N2.23billion was allegedly transferred to Governor Ayo Fayose out of the N4.745billion.
N60million was converted to $5,377,000 to Fayose in cash and N1.3billion was received by the governor’s associate, Mr. Abiodun Agbele.

N1.3billion was flown to Akure airport in two chartered flights for delivery to Agbele.

N N759, 384, 300 changed into Dollars through Bureau De Change firms;

N160million was used to purchase cars through Balmoral International Limited;

N1, 219, 490,000 was ferried by Obanikoro in two flights to a branch of Zenith Bank at Plot 13, Alagbaka Estate, Akure to evacuate the cash and received by Fayose’s associate, Abiodun Agbele;
N2billion allegedly withdrawn by Obanikoro and his two children in cash.

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