Well to this situation I'm really in a hurry to hear my called out that I would be given the some of just N50million to continue with life. And I give dasuki one week to mention my name
The Economic and Financial Crimes Commission
has arrested the Managing Director of Stallion
Group, Harprrie Singh, for allegedly making
N1.3billion 'questionable payment' to a former
Minister of State for Finance, Bashir Yuguda.
The Nigerian conglomerate, owned by the
Vaswani brothers, is one of the major companies
currently being questioned by the EFCC as part
of the ongoing investigation into the messy arm
procurement scandal in the office of a former
National Security Adviser, Colonel Sambo Dasuki
(rtd).
A source at the Commission disclosed that
Stallion's name cropped up when investigators
scrutinizing transactions carried out by the
former NSA with Jabbama Company, a bureau
de change operator, stumbled on evidence that
Stallion Group also paid N1.375billion to the
company, although N100million of the money
was later returned, leaving a balance of
N1.275billion.
Investigation further revealed that Jabbama
converted the money into United States Dollars
($114,750,000) and handed it to Mr. Yuguda,
former minister of state for finance, who is
already being prosecuted on multiple charges of
fraud and money laundering.
Mr. Yuguda was said to have explained to EFCC
interrogators that the N1.175billion received
from the Stallion Group was at the instance of
former NSA, Dasuki, for political purposes.
In the statement he volunteered to interrogators,
EFCC sources said, Mr. Singh claimed his
company had a $170million contract with the
ONSA to supply some vehicles and that, he had
already supplied the first batch of 50 vehicles
since November 2014 for which he was yet to
be paid.
Additionally, he confessed that the money he
gave to Mr. Yuguda was at the request of both
Messrs Dasuki and Yuguda, to support their
party.
Detectives at the EFCC say they are trying to
understand why a corporate organisation would,
instead of making donation to any political
cause through the relevant political parties,
route the fund through the NSA.
They are also trying to understand whether the
money was an inducement for a contract
awarded to the company by the NSA.
{PremiumTimes}.
The Economic and Financial Crimes Commission
has arrested the Managing Director of Stallion
Group, Harprrie Singh, for allegedly making
N1.3billion 'questionable payment' to a former
Minister of State for Finance, Bashir Yuguda.
The Nigerian conglomerate, owned by the
Vaswani brothers, is one of the major companies
currently being questioned by the EFCC as part
of the ongoing investigation into the messy arm
procurement scandal in the office of a former
National Security Adviser, Colonel Sambo Dasuki
(rtd).
A source at the Commission disclosed that
Stallion's name cropped up when investigators
scrutinizing transactions carried out by the
former NSA with Jabbama Company, a bureau
de change operator, stumbled on evidence that
Stallion Group also paid N1.375billion to the
company, although N100million of the money
was later returned, leaving a balance of
N1.275billion.
Investigation further revealed that Jabbama
converted the money into United States Dollars
($114,750,000) and handed it to Mr. Yuguda,
former minister of state for finance, who is
already being prosecuted on multiple charges of
fraud and money laundering.
Mr. Yuguda was said to have explained to EFCC
interrogators that the N1.175billion received
from the Stallion Group was at the instance of
former NSA, Dasuki, for political purposes.
In the statement he volunteered to interrogators,
EFCC sources said, Mr. Singh claimed his
company had a $170million contract with the
ONSA to supply some vehicles and that, he had
already supplied the first batch of 50 vehicles
since November 2014 for which he was yet to
be paid.
Additionally, he confessed that the money he
gave to Mr. Yuguda was at the request of both
Messrs Dasuki and Yuguda, to support their
party.
Detectives at the EFCC say they are trying to
understand why a corporate organisation would,
instead of making donation to any political
cause through the relevant political parties,
route the fund through the NSA.
They are also trying to understand whether the
money was an inducement for a contract
awarded to the company by the NSA.
{PremiumTimes}.
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