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Thursday, October 27

Obanikoro Struggles to Raise N100 Million to Facilitate His Freedom from EFCC Custody

Obanikoro Struggles to Raise N100 Million to Facilitate His Freedom from EFCC Custody

Musiliu Obanikoro

Former PDP gubernatorial aspirant in Lagos State, Obanikoro who reported to the EFCC on his return from the U.S has failed to return an initial N100m to the anti-graft agency.

Former Minister of State (Defence), Musiliu Obanikoro is yet to refund the N785 million allegedly collected from the Office of National Security Adviser (ONSA), The Nation learnt yesterday.

Of the cash, Obanikoro planned to immediately refund about N100million to regain his freedom and look for the balance. From ONSA, about N4.685 billon was transferred to Sylva McNamara Limited, a company allegedly linked to the ex-minister.

Obanikoro told Economic and Financial Crimes Commission (EFCC) detectives that N3.880 billion was given to Governor Ayodele Fayose and Sen. Iyiola Omisore out of the said cash.

He also said he handed over $5.377 million  (N60m then) cash to Fayose at Spotless Hotel, Ado-Ekiti in the presence of the former Peoples Democratic Party (PDP) Secretary Tope Aluko and other party stalwarts.

He said the balance of N785 million was expended on alleged anti-Boko Haram campaign in Lagos and the Southwest by Sylvan Mcnamara. The ex-minister is said to be desperately seeking how to refund the money.

A top source, who spoke with The Nation said: “The ex-Minister is yet to pay back any money out of the N785million in question. Although he promised initial remittance of N100million, he is yet to do so.

“Instead, he said he will make a commitment to the EFCC to refund the cash. He begged for more time to enable him to look for the refund.

“We are however expecting him to make reasonable refund; we cannot accept just an undertaking from him. He needs to live up to his promise.

“The refusal to refund any amount has been a major issue why his bail is being delayed.”

The EFCC had discovered that Sylvan Mcnamara Limited, allegedly owned by Obanikoro and his sons, was used to launder the N4.745billion.

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