EFCC: N2.8b cash for ex-militants’ stipends  withdrawn 35 times

EFCC

Economic and Financial Crimes Commission (EFCC) detectives have uncovered how N2.8billion meant for the training of ex-Niger Delta militants was diverted.

The money was withdrawn 35 times, alleged orders of a former Coordinator of the Presidential Amnesty Programme,  Kingsley Kuku.

The funds were converted to dollars by six bureau de change and disbursed through Kuku’s two aides.

Some of the funds were wired into the accounts of the brothers and associates of a former coordinator of the scheme, Dr. Kingsley Kuku and some former militants

The EFCC has launched a manhunt for Kuku who is believed to be in the United States.Kuku, a former Deputy Speaker of the House of Representatives, Prince Chibudom Nwuche; Nwuche’s group, Foundation For Youth Development(FYD) and two others are  under investigation on how the cash was disbursed and the purpose for which it was spent.

But Nwuche has denied any complicit in the matter.

A document obtained by our correspondent shows that the cash, which was meant for contracts was converted to dollars between March 26, 2012 and March 5, 2013.

Although there were conflicting claims on what the cash was spent on, the EFCC is probing clues that the money might have been laundered.

Two former aides of Kuku and six Bureau de Change dealers are under probe.

Some of the curious withdrawals are as follows:  9/10/ 12- $2m withdrawn through Shilon BDC; 21/ 11/ 12—$1.4m  from Abdullahi BDC; 26/3/12—$1m paid through DLH BDC Limited to Kuku’s aide, Dr. Andrew Iyamu; 4/5/12 ($500,000); 22/11/12-cash of $1.2m through Gadlam Global Investment; $721,000 cash handed over to Andrew on 5/3/2013 through Skyegate BDC;  17/4/13-cash of $2m through Cannew Nigeria Limited handed over to Kuku’s aide;  and 19/4/13- about $758,000 handed over to Andrew by Hand to Hand BDC.

Other withdrawals  include22/11/12——$300,000; 11/08/12- cash of $695,000; 11/9/12—$137,908; 20/11/12—$435,000; $500,000 through Nigare BDC;

A top source, who spoke in confidence, said: “We have interrogated some people, including a former Deputy Speaker, Nwuche. We need to hear from Kuku who has fled under the guise of medical treatment. The disbursement of the funds by the Foundation For Youth Development(FYD) was said to be based on the instructions of Kuku.

“We might be forced to declare the former coordinator of the Presidential Amnesty Programme wanted.”

Responding to a question, the source added: “The N2.8billion was the payment for three contracts to be executed by FYD for the training of ex-militants on some vocational skills abroad. But the jobs were yet to be done.

“The FYD claimed that the ex-Coordinator of the Presidential Amnesty Programme, Kuku, pleaded that the cash be advanced as a loan to meet urgent demands of ex-militants and prevent restiveness in the region.

“But there is no record of the loan in the handover note of Kuku. We are asking FYD and Kuku to explain how such a huge cash was spent.

“The EFCC is determined to recover the N2.8billion public funds. We will get to the root of how this cash was shared out for nothing.”

source: the nation