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Nigeria’s Security Hierarchy Shaken As Former Naval Chief, NSCDC Deputy Commandant Arrested
The duo were apprehended over allegations of diverting more than ₦3 billion in public funds.....KINDLY READ THE FULL STORY HERE▶
Both individuals are set to face prosecution for their roles in the fraudulent scheme.
In a statement released on Friday, Demola Bakare, Director of Public Enlightenment and Education at the Independent Corrupt Practices and Other Related Offences Commission (ICPC), confirmed the arrests. He noted that Yusuf, who had been evading capture, was finally arrested at his residence in Gwagwalada, Abuja.
ICPC’s investigation uncovered that Jibrin allegedly masterminded the fraud with the help of Yusuf and another accomplice, former Brigadier General Ishaya Bauka Gangum.
The fraudulent scheme reportedly involved the creation of 92 fictitious companies, none of which were registered with the Corporate Affairs Commission (CAC), to siphon public funds.
Yusuf is accused of serving as a front for Jibrin, facilitating suspicious financial transactions that resulted in the acquisition of luxury properties.
Intelligence reports indicate that part of the embezzled funds were funneled into purchasing real estate abroad, including properties in Dubai, using proxies.
The legal battle over the illicitly acquired properties began in 2019, when a Federal High Court issued an interim forfeiture order on assets linked to Jibrin and Yusuf.
However, in July 2022, the court lifted the order, citing insufficient evidence provided by the ICPC. The commission has since appealed the ruling, arguing that the decision was unreasonable and lacked support from the available evidence.
Further investigations traced the diverted funds to companies such as Lahab Integrated and Gate Coast Properties, which were used to purchase at least 18 properties.
So far, four of these properties have been forfeited to the federal government, while legal proceedings concerning the remaining assets are ongoing.
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