The interim report of the Nigerian Investigative Committee on Arms Procurement is out. The committee which was inaugurated on Aug 31, 2015 has not completed it’s investigation but in the interim, their report has left everyone in shock as to the level of illicit transactions and fraud committed against Nigeria! As a result of these finding, it is being reported that President Buhari has ordered the arrest of everyone indicted.
This information is contained in a statement issued in Abuja by the president’s Special Adviser on Media and Publicity, Femi Adesina.
According to the report, “as part of the findings, the committee has analyzed interventions from some organizations that provided funds to the Office of the National Security Adviser, Defense Headquarters, Army Headquarters, Naval Headquarters and Nigerian Air Force Headquarters, both in local and foreign currencies”. It was unearthed that the total extra budgetary interventions collated by the committee was N643.8 billion while the foreign currency component was $2.2 billion and the amounts excluded grants from the state governments and funds collected by the Directorate of State Services and the Police.
Shamefully, the committee observed that in spite of this huge financial transactions, not much was actually expended to support defense procurement.
According to report, “The committee also observed that out of 513 contracts awarded at $8,356,525,184.32; N2,189,265,724,404.55 and 54,000.00 euros; Fifty Three were failed contracts amounting to about $2,378,939,066.27 and N13,729,342,329.87 respectively.’’
It was also discovered that about N3.85billion payment were made to a single company by the former NSA with no documented contractual agreements nor payment of taxes to the Federal Government. NewsTidBitsWithFAB