N22.8bn Fraud: How We Recovered Stolen Funds from Amosu, Others, Says EFCC


An Investigator with the Economic and Financial Crimes Commission (EFCC) Tosin Owobo, yesterday told a Federal High Court, Lagos, his employer, the EFCC recovered N2.4 billion and $115,000 from former Chief of Air Staff, Air Marshal Adesola Nunayon Amosu.

Owobo made the revelation before Justice Mohammed Idris, adding that Amosu returned the N2.4 billion through bank drafts at his agency’s Lagos and Abuja offices.
He also told the court that his team recovered $115,000 in one of Amosu’s residences.
Amosu is standing trial alongside former Nigeria Air Force (NAF) Chief of Accounts and Budgeting, Air Vice Marshal Jacob Adigun and a former Director of Finance and Budget, Air Commodore Olugbenga Gbadebo.

They were accused of diverting about N22. 8 billion NAF’s funds.
They had all pleaded not guilty.
An initial plea bargain talks with EFCC broke down after the defendants reportedly refunded some money running to billions to the federal government.

At the resumption of proceedings yesterday, the prosecutor, Mr. Rotimi Oyedepo, led Owobo in evidence.
When Oyedepo enquired whether the EFCC had recovered anything from the N22 billion allegedly stolen by the accused persons, the investigator answered in the affirmative.

He told the court that money, cars and landed property were recovered from the accused persons.
Owobo said: “About N100m was recovered from the third defendant (Air Commodore Gbadebo). Funds were also left over in St Solomon’s UBA account, recovered through the first defendant’s wife (Mrs. Amosu).

“About N383 million was recovered through the first defendant’s wife. The first defendant (Amosu) also refunded two bank drafts of N2.4 billion in our Lagos and Abuja offices. We recovered $115,000 in one of the first defendant’s residences.”

Owobo listed the recovered vehicles to include a bulletproof Lexus LX 570, a bulletproof Land Cruiser Sports Utility Vehicle and a Toyota Avalon.

He added: “Various landed property and buildings were recovered from the second defendant.”
The matter has been adjourned till April 18, for continuation of trial.