The Economic and Financial Crimes Commission has arrested the Managing Director of Stallion Group, Harprrie Singh, over a suspicious N1.25billion payment he made into the accounts of former Minister of State for Finance, Bashir Yuguda for Former National Security Adviser Sambo Dasuki,
The Punch reports.
Investigations by EFCC revealed that one of the companies being investigated in the arms deal scandal, Jabbama Company, a bureau de change operator, had received payment of N1.375 billion from Stallion group with a later deduction of N100 million, leaving a balance of N1.275billion.
A top operative of the EFCC said Jabbama converted the money to $114,750,000 and handed them over to Yuguda. The former Minister is facing prosecution at the Federal High Court Abuja for alleged fraud and money laundering.
It was further stated that Yuguda told EFCC interrogators that he collected the fund at the instance of the former NSA for political purposes. The top operative said Singh was still being grilled by the operatives as of the time this story was filed by 9pm on Thursday.
The source added that the Stallion boss told his interrogators that he had a contract of $170m with the ONSA to supply some vehicles. He was said to have claimed that the first batch of 50 vehicles were supplied in November, 2014, but said the payment was still outstanding.
It was learnt that the operatives were interrogating the Stallion boss for routing the seeming political donations through the NSA and not through political parties.
The operatives were said to be probing the possibility that the ‘donation’ by the firm could be an inducement for contracts award from the ONSA.
Investigation into the matter is ongoing.