The presidency just released a press statement on the interim report of the committee set up by President Muhammadu Buhari to probe the procurement of arms in the ongoing fight against insurgency. The statement said the committee made several damping findings on the strength of which Buhari has ordered the arrest of those indicted.
READ statement below:
On the authority of Mr President, a 13 man committee was set up by the Office of the National Security Adviser to audit the procurement of arms and equipment in the Armed Forces and Defence sector from 2007 to date.
While the committee which was inaugurated on 31 August 2015 is yet to complete its work, its interim report has unearthed several illicit and fraudulent financial transactions.
As part of the findings, the committee has analyzed interventions from some organizations that provided funds to the Office of the National Security Adviser, Defence Headquarters, Army Headquarters Naval Headquarters and Nigerian Air Force Headquarters, both in local and foreign currencies.
So far the total extra budgetary interventions articulated by the committee is Six Hundred and Forty Three Billion, Eight Hundred and Seventeen Million, Nine Hundred and Fifty Thousand, Eight Hundred and Eighty Five Hundred Naira and Eighteen Kobo (N643,817,955,885.18).
The foreign currency component is to the tune of Two Billion, One Hundred and Ninety Three Million, Eight Hundred and Fifteen Thousand US Dollars and Eighty Three Cents ($2,193,815,000.83).
