Nigeria recovers N7 billion from fraudulent defence contracts

The committee set up by the Federal Government to investigate the awarding of security contracts from 2011 to 2015 said it has recovered N7 billion with another N41 billion to be repaid by companies.

The committee found a “total disregard” for the government’s award-granting process, and that the contractors included “serving and retired officers of the armed forces.”

National Daily gathered that as much as N123 billion in fraudulent payments could be recovered from companies accused of failing to complete projects or for overbilling on contracts.

ALSO SEE: EFCC in a fix over Tompolo

The Economic and Financial Crimes Commission has been ordered to investigate some of the 300 contractors identified in the probe to determine if another 75 billion naira should be recovered, Presidential Spokesman, Garba Shehu disclosed recently.

President Muhammadu Buhari, since becoming President in May, 2015 on an anti-corruption platform, has pushed for investigations of former ministers and high-ranking civilian and military officials that served under the previous government.

Former National Security Adviser to Ex-President Goodluck Jonathan, Sambo Dasuki, is still in EFCC custody facing charges related to alleged misappropriation of $2.1 billion meant for weapons procurement following a similar presidential probe.