EFCC witness tells Abuja court how N33.2bn arms funds were allegedly diverted to buy properties and foreign currencies in Dasuki trial
Arms Funds Trial: EFCC Details How Beneficiaries Bought Properties, Foreign Currencies With N33.2bn
A prosecution witness on Tuesday told the Federal Capital Territory (FCT) High Court in Abuja how beneficiaries of the alleged N33.2 billion arms funds diversion used the proceeds to acquire lands, properties, and foreign currencies, including dollars and euros, for personal use.
The witness, Michael Adarikun, a detective with the Economic and Financial Crimes Commission (EFCC), gave detailed testimony while appearing as the first prosecution witness in the long-running trial involving former National Security Adviser (NSA), Sambo Dasuki.
Dasuki, a retired colonel, is standing trial alongside Aminu Baba-Kusa and two firms—Acacia Holdings and Reliance Referral Hospital Limited—over 32 counts of fraud linked to the diversion of arms funds from the Office of the National Security Adviser (ONSA).
Both companies, according to the EFCC, are owned by Baba-Kusa, a former official of the Nigerian National Petroleum Corporation (NNPC).
Continuing his testimony before Justice Charles Agbaza, Adarikun traced the movement of funds from ONSA to Acacia Holdings and Reliance Referral Hospital, from where the money was allegedly disbursed based on instructions from their owners.
He told the court that on April 17, 2015, ONSA, under Dasuki, transferred N600 million to Acacia Holdings, noting that the company had only N27,094 in its UBA account shortly before receiving the funds.
According to the witness, the money was quickly disbursed to multiple entities, including Medical Plastic Limited, a company in which Baba-Kusa’s wife, Hauwa Baba-Kusa, is a majority shareholder. He added that Dasuki personally authorised payments made from ONSA to the firms.
Adarikun said investigations revealed that on April 23, 2015, Acacia Holdings transferred N60 million to Hidayatul Atfaal Islamic Academy as part payment for 3.62 hectares of land in Kiyami District, Abuja.
Another firm, Zabati BDC Limited, received N25 million in three tranches for a property known as Hospitality Property Nigeria, while additional payments were made through Ibrahim Saleh, who acted as a property purchaser on Baba-Kusa’s behalf.
Further transactions included:
- N8.7 million for beacon processing of lands in Kwali, Wasa, Kiyami, and Abuja Central Area
- N50 million paid to Squad Developers Nigeria Limited for 118.132 hectares of land at Stadium Layout, Kwali
- Over N33 million transferred to O.A. Akinrinmade
The witness also told the court that over N55 million was paid to Pasman Investment Limited, which was allegedly used to facilitate a $630,000 foreign exchange transaction.
On May 15, 2015, over N23 million was transferred to Namuduka Ventures for conversion to dollars. According to Adarikun, funds totalling over N56 million were converted and transferred to Baba-Kusa’s Furnishing Touches (FT) account in the United Kingdom.
He further disclosed that:
- N23 million was converted to €65,075 and sent to the same UK account
- Another €1,500 was transferred to a different UK account belonging to Baba-Kusa
- $200,000 was transferred to Blue-Lake Management Consultancy Limited
The EFCC witness also revealed that N70 million and N80 million were transferred to Medical Plastic Limited on May 4 and May 6, 2015, respectively.
After the extensive testimony, Justice Agbaza adjourned further proceedings to Wednesday.
Dasuki’s trial, which has lasted over a decade, stems from allegations that funds meant for arms procurement during the height of Boko Haram insurgency were diverted between 2014 and 2015 under the administration of former President Goodluck Jonathan.
An audit panel set up by former President Muhammadu Buhari reportedly found that about $2 billion earmarked for arms procurement was unaccounted for.
Apart from the N33.2 billion case, Dasuki is also facing another trial involving N4.6 billion in alleged arms procurement fraud alongside former Sokoto State Governor Attahiru Bafarawa, his son Sagir Bafarawa, former Minister of State for Finance Bashir Yuguda, and Dalhatu Investment Limited. Read More
