$2.9b arms procurement: Buhari orders arrest of Dasuki, others

Following the release of the interim report by a 13 man presidential committee set up on August 31 to investigate arms procurement from 2007 to date, yesternight, Pres Buhari ordered the arrest of the former National Security Adviser, NSA, Col. Sambo Dasuki (Rtd), for allegedly siphoning billions of dollars earmarked for arms purchases.

The report stated that that so far the total extra budgetary interventions collated by the committee was N643.8bn while the foreign currency component was $2.2bn. Of 513 contracts awarded at $8.4bn; N2.2trn and €54,000; 53 were failed contracts amounting to $2.38bn and N13.73bn respectively.

The amount of foreign currency spent on failed contracts was more than double the $1bn loan that the National Assembly approved for borrowing to fight the insurgency in the North East. Payments to the tune of N3.85bn were made to a single company by Dasuki without documented evidence of contractual agreements or fulfillment of tax obligations to the FG.

Between March 2012 and March 2015, Dasuki awarded fictitious and phantom contracts to the tune of N2.22bn; $1.67bn and €9.91m. The contracts, which were said to be for the purchase of 4 Alpha Jets, 12 helicopters, bombs and ammunition were not executed and the equipment were never supplied.

Out of these figures, two companies, were awarded contracts to the tune of N350m; $1.66bn and €9.91m without prejudice to the consistent non-performance of the companies in the previous contracts awarded. Dasuki also directed CBN to transfer the sum of $132m and €9.91 to foreign accounts for un-ascertained purposes, without any contract documents to explain the transactions.

The report noted that the findings made so far are extremely worrying. Had the funds been properly used for the purpose they were meant for, thousands of needless Nigerian deaths and the ridicule Nigeria has faced in the international community would have been avoided. The committee noted that those entrusted with the security of this great nation were busy using proxies to siphon the national treasury, while people die daily.