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FLASH| Airforce Account reveals How Alex Badeh looted Funds

by on March 17, 2016
 
A mind-boggling account of how former Chief of Defence Staff, Air Chief Marshall Alex Badeh (rtd, plundered the treasury of the Nigerian Air Force came out yesterday when the Federal Government opened its case against Badeh yesterday.
The Federal Govern­ment through the Eco­nomic and Financial Crimes Commission (EFCC) had on February 29, 2016 filed a 10-count charge bordering on al­leged fraudulent pilfering of about N3.97bn from NAF’s account against Ba­deh and Iyalikam Nig Ltd, a company believed to be owned by him at the Fed­eral High Court in Abuja.
Led in evidence by the prosecution lawyer, Roti­mi Jacobs (SAN), a former Director of Finance and Account of the Nigerian Air Force, Air Commo­dore Aliyu Yishau (rtd), gave a detailed account of how he regularly assisted Badeh to corner the sum of N558.2m by converting it to its dollar equivalent.
Yishau disclosed that he divertted the money throughout the period of September 2012 and De­cember 2013 when Badeh served as the Chief of Air Staff.
The star witness testi­fied that the NAF usually receive monthly alloca­tions in its Capital Vote account with the Central Bank of Nigeria in La­gos; the Overhead Vote account with the Zenith Bank Plc and the Person­nel and Emolument Vote account with the UBA.
He further revealed that the sum of N558.2m was being taken away from the Personnel and Emolu­ment account as fund meant for “general admin­istration of the Chief of Air Staff”.
Yishau told the trial judge, Justice Okon Abang that the he helped Ba­deh acquire and develop landed assets in Abuja with the N558.2m which was being drawn from the Personnel Emolument account of the NAF on monthly basis.
He said the N558.2m was part of the excess in the N4bn which the NAF received monthly in the Personnel and Emolu­ment account after the salaries and allowances of permanent and temporary staff must have been paid

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