The Federal Government has begun gathering evidence on government officials linked to the alleged looting of $69bn (N28.3tn) stashed in various bank accounts in Texas, the United States.

The loot reportedly accrued from illegal oil deals involving some officials of the government-owned Nigerian National Petroleum Corporation and the Central Bank of Nigeria during the Goodluck Jonathan administration.

An American assets recovery firm, Forensic Assets Investigation and Recovery Services LLC, discovered the $69bn loot.

Findings showed that the American company, FAIR, is a specialist in anti-corruption asset recovery working independently to trace and help repatriate money stashed away in foreign bank accounts and loot converted to real estate, luxury items, yachts and the money markets.

The firm, founded by a lawyer, Gary Riebschlager, comprises investigators, forensic accountants, bankers, and cyber experts who utilise Mutual Legal Agreements and global Financial Intelligence Units, Camden Assets Recovery Inter-Agency Network, Global Focus Point Network in Asset Recovery (Interpol), and the Stolen Asset Recovery Initiative of the World Bank.

In a January 2019 confidential memo to the Special Presidential Investigation Panel, FAIR said it could help the Federal Government recover the money if hired and compensated for its services.

Out of the loot, $9bn was reportedly traced to a Texas bank account allegedly belonging to the late National Security Adviser, General Andrew Azazi.

Azazi died in a helicopter crash in Okoroba, Nembe Local Government Area of Bayelsa State in December 2012 alongside the Governor of Kaduna State, Patrick Yakowa, and others.

Two months after FAIR wrote the SPIP, the latter wrote a letter dated March 18, 2019 to the President, Major General Muhammadu Buhari (retd), on the matter, explaining FAIR’s proposal.

SPIP stated that FAIR assured that the $9bn allegedly stolen by Azazi could be recovered within three to five months.

The SPIP’s letter to the President, with reference number SPIP/SH/2019/VOL.1/1, was titled, ‘American assets investigation and recovery company has traced a definite $9bn funds linked to the late Gen Azazi.’

The letter was signed by a former SPIP Chairman, Okoi Obono-Obla.

It read in part, “In January 2019, an American assets recovery company, Forensic Assets Investigation and Recovery Services LLC, sent a confidential memo to us stating the discovery of a definite total amount of $9bn in the State of Texas linked to the late General Azazi (former NSA), plus an additional huge amount in excess of $60bn from multiple sources of illegal sales of crude oil from Nigeria into the entire United States of America.

“Mr President, the confidential memo to us prompted our agency to seriously engage the US company to determine the veracity of the information, which resulted in an official invitation to them that they may visit us to further discuss and agree on steps needed to recover and return the funds to the Nigerian government.”

“Follow-up information from the Americans indicate that the definite $9bn can be recovered and returned to Nigeria within 3 to 5 months, if engaged and expense fee is provided, while compensation and charges shall be paid upon recovery. They also informed us that the major funds were stolen via the NNPC and the Central Bank of Nigeria,” the letter to the President further stated.

Following the overwhelming evidence provided by the assets recovery company regarding the $9bn and their capacity to recover and return the fund, the SPIP explained that it decided to engage the American forensic experts on a face-to-face meeting scheduled for March 29, 2019.

The panel also attached a copy of the firm’s acceptance letter to its memo to the President and sought Buhari’s approval for the planned meeting with the American company.

The memo noted, “Mr President, we intend to work together with the Americans in order to secure the recovery of the definite $9bn within 3-5 months they stated and to engage them to see and recover the larger part of the estimated $60bn-$80bn stolen from Nigeria during the oil boom. Also, to engage the NNPC and the CBN in the overall recovery of those funds in the United States.

“Our prayers to the President are: To approve the engagement of the American company to recover the funds and assets in the US and to approve the support of the visiting American firm to integrate software technology in the CBN in order to trace fraud funds.

“To approve the presence of interface offices of the Special Presidential Investigation Panel in NNPC and the CBN. Your Excellency, the immediate recovery of the identified $9bn within the stated timeframe of 3-5 months will totally eliminate borrowing to fund the 2018 budget deficit and sustain the 2019 budget.”

Two years after the SPIP notified the President of the loot, the Federal Government was said to have not taken concrete steps to recover the money.

However, the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN), on Friday told one of our correspondents that the Federal Government had swung into action with the aim of getting adequate information on the $69bn loot allegedly hidden in American banks in Texas as well as the government officials involved.

The AGF also said the relevant bank details would be traced.

Malami’s Special Assistant on Media and Public Relations, Dr Umar Gwandu, who spoke on behalf of the minister, said the government was at the information-gathering stage and would work on verifiable information.

Gwandu said, “The government has swung into action to generate adequate information on the alleged $69bn, inclusive of the Nigerians involved, incidental bank details, and actionable intelligence to enable us to deal with the matter.

“The details of the alleged lawyers involved and what information is at their disposal can also be very helpful.

The office of the Attorney General of the Federation works on cogent and verifiable information, not on media sensations or on speculations.”

Gwandu said the Buhari regime had the track record of repatriating stolen funds stashed in foreign accounts, saying it was one of the “visible and indelible” successes recorded by the regime.

He said, “The Office of the Attorney General has established a historical record of acting on cogent and verifiable information that has led to the recoveries of looted assets upon valid revelations that are subjected to integrity test by the assets recovery units of the office of the Attorney General of the Federation.

“The integrity test of information is not media-based but a process being conducted through the laid-down official process in compliance with the extant laws.

“One of the prime and uncompromising policies of the present administration under the leadership of President Muhammadu Buhari is the fight against corruption.”

Fourteen students of Greenfield University, Kaduna, who were abducted from the university hostels on April 20th 2021, have been released.

The students, who were released on Saturday afternoon after a yet to be disclosed amount of money was paid as ransom.

The Public Relations Officer of Greenfield University, Kator Yengeh, confirmed the development to our correspondent but said details would be made available to newsmen by the school management later.

Details later

Nigerian Air Force (NAF) on Saturday said the capability of its pilots should not be called into question despite the recent NAF plane crashes, including last Friday’s crash which killed the Chief of Army Staff , Ibrahim Attahiru and 10 other military officers.

Recall that last Friday, a NAF Beechcraft King Air 350i had crashed at the Kaduna civil airport, after the pilot diverted from the military airport due to bad weather.

It was the second time that a NAF Beechcraft King Air 350i would crash this year and was also one of the worst military plane crashes in NAF history.

Due to the severity of the crash, a cross-section of Nigerians questioned why senior and more experienced pilots, such as Squadron Leaders or Wing Commanders, were not being deployed to fly dignitaries such as the COAS and top generals.

But the NAF Director of Public Relations and Information, Air Commodore, Edward Gabkwet, said the flight captain who flew the ill-fated military plane, Taiwo Asaniyi, was a Flying Lieutenant with thousands of flying hours.

He said the late pilot and some of his colleagues, including the pilot who flies the President, had been flying since they were cadets at the Nigerian Defence Academy.

Gabkwet stressed that the pilots’ qualifications and capabilities should never be called into question, adding that most of them had flown more hours than even many seniors.

According to him; “On people saying a senior ranking officer should have flown the Chief of Army Staff and others, people don’t know him (the captain of the crashed plane). He and the pilot flying the President are both Flight Lieutenants. He flew more hours than some of us. He had been flying since his time at the Nigerian Defence Academy. He started flying as a cadet.

“As a captain on the Beechcraft, he had flown 2,450 hours, which was in 2019. So he would have flown nothing less than 5,000 hours since his cadet days. He had been flying the COAS and other VVIPs on that same Beechcraft. He was 29 years old. Because he had an accident doesn’t mean he didn’t have experience.

“He travelled every year for retraining. Our training involves a partnership with the manufacturers of the planes. It is rigorous; it’s not something taken with levity.”

Gabkwet also debunked insinuations that the planes in the NAF fleet were old, noting that the ill-fated Beechcraft plane was one of the best in the world.

He also said the planes were bought brand new just about six years ago.

He said, “We have four Beechcraft aircraft. The Beechcraft aircraft which crashed last Friday was among those newly bought in 2015. They are easy to maintain and they are widely used even in the United States and Britain.

“The one that crashed in January was given to us by the Nigerian Maritime Administration and Safety Agency. So, the accident wasn’t about the aircraft. Everyone is saying the weather that day was bad. Even in Abuja, it was bad.”

The NAF spokesperson also said an investigation into the accident had commenced in collaboration with the Accident Investigation Bureau, and that information would be retrieved from the black box and control tower tapes.

Gabkwet said due to the nature of the military plane crash, its report would be made available to the public when concluded.

He said, “The AIB said they had found the black box. But as for the time frame for the investigation, maybe I’ll find out and get back to you. Definitely, there will be a time frame. The bottom line is this: as soon as we are ready, we are going to have a joint press briefing and nothing will be hidden. Of course, you know why this latest crash is very important.

“Air accidents and their investigations are essentially to find out what caused the accidents so as to take lessons to avert similar occurrences in the future. We don’t have to massage any ego at all. If you look at it from that angle, you will know that it is painstakingly and carefully done.

“Some Nigerians have been saying we didn’t come out with the reports on past accidents. But military investigations regarding plane crashes won’t necessarily let the public know what happened because the outcomes have implications on operations, the morale of the pilots, and so many other things.

“However, on the latest accident, we have assured the public that we will let them know the outcome of the investigation so we can all take lessons from there and prevent future crashes.”

The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has hinted that the N14.46 billion jewellery and other properties recovered from a former Minister of Petroleum Resources, Diezani Allison Madueke during the former President Goodluck Jonathan administration are still with the commission.

He made this disclosure on Saturday when he appeared before the House of Representatives Adhoc Committee investigating the status of recovered loot, movable and immovable properties from 2002 to 2020.

He said the jewellery, valued at N14.60 billion and other property, estimated at over $80 million, had not been auctioned.

According to him; “They are in our custody. They have been finally forfeited. The commission is looking forward to the presidential committee to auction all these items and deposit the money appropriately.

“We got the forfeiture order sometimes in 2019. A lot of processes and events hinder us to proceed with the auction as you are aware sir. We couldn’t move on with some of these things because of certain things that happened,” he said.

The committee raised concern over the possible deterioration in the value of recovered assets, which recovery agencies are holding in their custodies.

While responding, the EFCC Chairman said some legal and administrative bottlenecks were the main reasons hindering disposal of recovered assets.

Asked about how the EFCC disposes non cash assets, he replied that there were laid down rules for the disposal of recovered assets, which he said were being followed.

After the submissions of the EFCC chairman, the committee said they were satisfied with various explanations about the operations and status of seized assets.

…Says Selection Based On National Interest, Not Ethnic, Religious Sentiments

The federal government on Saturday has defended its choice of Major General Farouk Yahaya as the new Chief of Army Staff (COAS).

While also revealing plans to immortalise the former COAS, late General Ibrahim Attahiru and others that perished in a plane crash about a week ago in Kaduna State.

Defending its choice, the government insisted that contrary to public opinion, the appointment of Yahaya, who resumed duty Friday , was based on national interest and not on ethnic and religious sentiments.

Also, the Chief of Defence Staff (CDS), General Lucky Irabor, charged the new COAS to build on the legacy of his predecessor, Lt. Gen. Ibrahim Attahiru, who died in a plane crash on Friday, May 21.

The appointment of the new COAS on Thursday had elicited fierce criticisms from a wide spectrum of Nigerians who alleged that other more qualified senior army generals were denied the position because they hailed from the south-eastern part of the country.

Critics also argued that the office of Army Chief had been restricted to Northerners in the six years Buhari has spent so far as President and that the President ought to have shifted a bit by picking the new Army Chief from among Southern Generals in the Army, so as to give the rest of the country a sense of belonging.

Apparently reacting to the criticisms yesterday, the Minister of Defence, Major General Bashir Magashi said the appointment of Yahaya was strategic and was based on national interest and not on ethnic and religious sentiments.

The Minister, in a statement by his Special Assistant on Media and Publicity, Mohammad Abdulkadri, described the new Army Chief as “an organic infantry general who is tested and trusted to actualise the national aspirations to restore peace in the dark spots and areas of insurgency, kidnapping, and banditry, as well as other allied threats to the nation’s corporate existence.”

Magashi commended President Buhari “for the well thought-out strategic appointment of Yahaya as a replacement for the late Attahiru.

With the appointment of General Yahaya, President Buhari has expediently put national interest above ethnic and religious chauvinism by fulfilling all requirements necessary. These include his unblemished track records of service, professional, command, and operational competencies among other yardsticks that culminated into his emergence as most suitably qualified new Army boss.”

The Defence Minister expressed optimism in the professional pedigree of General Yahaya, the former theatre Commander Operation “Hadin Kai”, in sustaining the trajectory of taking offensive and aggressive campaigns to the camps, corridors, and cells of the adversaries to obliterate them.

While pledging the support of the Ministry of Defence under his watch to the new Army boss in carrying out his mandate, the minister said plans were in the pipeline by the federal government to immortalise the late General Attahiru and others who died in the plane crash.

Yahaya is from Sokoto State and he was a member of the 37th Regular Course of the Nigerian Defence Academy.

The choice of Yahaya, according to independent analysis, means Nigeria would lose heavy investments made on about 60 army generals from the Army Regular Courses 35 and 36, who, by army tradition, have to proceed on summary retirement as a result of the choice of the new COAS, who belongs to the course 37 set.