An estate, belonging to a former Chief of Army Staff has been reportedly seized by the Economic and Financial Crimes Commission (EFCC). The estate, allegedly valued at over N4 billion was confiscated on account of the ongoing probe of the ex-Army Chief over $2.1 billion arms deals. The estate, which contains more than 30 duplexes built to taste, has been placed under Interim Asset Forfeiture, The Nation reports. The estate is said to be located between Jabi and Life Camp in Abuja and EFCC ‘Keep Off’ sign has already been pasted on the estate.
About N2 billion meant for the purchase of vehicles for the Nigerian Army had earlier been traced to the accounts of five children of the former Army chief by the Presidential Committee on Audit of Defence Equipment Procurement (CADEP).
“They are still investigating the ex-Army Chief and he will soon be interrogated. But in line with their modus operandi, they have been able to trace his suspicious assets which they have attached under Interim Asset Forfeiture. In this case of the ex-Chief of Army Staff, his children and friends were used as fronts for money laundering. They have traced many suspicious accounts linked with the ex-Army boss. Most of these accounts have been frozen''.