The Economic and Financial Crimes Commission has revealed that the money diverted from arms purchase funds is over $15bn, as opposed to the $2.1bn initially alleged to have been embezzled.
Punch Newspapers reports that the EFCC discovered that the total anti-insurgency money diverted by various personalities and agencies was over $15bn.
A source at the commission revealed that during investigations, the EFCC and the presidential panel on arms procurement discovered that the $2.1bn fraud was just for one of the several transactions.
“We have discovered that the total money in the arms scandal is over $15bn, not $2.1bn that was initially discovered. The $2.1bn was just for one transaction. Many of these military officers set up companies for the purpose of diverting money meant for the prosecution of the anti-insurgency war,” the source was quoted to have said.
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