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Witness: How ex-Airforce chief siphoned N12 billion from NAF account

Mr. Tosin Owobo, an investigator with Economic and Financial Crimes Commission EFCC, yesterday, narrated before a Federal High Court sitting in Lagos how Air Marshal Jacob Adigun, a former Chief of Accounts with Nigerian Air Force, NAF, used his companies to siphon N12 billion from NAF intelligence account.

Sahara Reporters
Adigun is the second defendant facing a N22.8 billion fraud charge, preferred against former Chief of Air Staff, Adesola Amosu, who is standing trial alongside two other Air Force officers — Air Vice Marshal Jacob Adigun and Air Commodore Gbadebo Olugbenga.

The trio are being tried alongside eight companies: Delfina Oil and Gas Limited, Mcallan Oil and Gas Limited, Hebron Housing and Properties Company Limited, Trapezites BDC, Fonds and Pricey Limited.

The witness, who was led in evidence by the Commission’s prosecutor, Rotimi Oyedepo, told the court that sequel to the signing of a Memorandum of Understanding, MoU, between the Nigerian Maritime Administration and Safety Agency, NIMASA, and NAF, N3 billion was paid into NAF Special Emergency Operation account in three tranches of N1 billion on different occasions.

Owobo also told the court that the money was paid into Right Options Oil & Gas Limited, Judah Oil Limited, Delfina Oil & Gas, McAllan Oil & Gas Limited and Lebol Oil & Gas Limited.

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He said: “As part of the investigation, we invited the Managing Directors of Right Options Oil & Gas, Judah Oil & Gas and Lebol Oil & Gas Limited, who said in their statements that they were bureau de change operators and not oil dealers.

“They said when the monies were paid into their accounts, they gave the dollar equivalents to the Account Officers of the NAF Special Emergency Operation account for the second and third defendants.

“They also stated that their companies were registered as oil and gas companies because they were given a high threshold of monies that could be transferred with fewer deductions.”

The witness further gave evidence on the account opening packages of Delfina Oil & Gas and McAllan Oil & Gas, Owobo said the CAC documents that were used in opening the accounts bore Adigun’s name as director.
According to him, investigations further revealed that certain monies that did not originate from NIMASA were paid from other NAF accounts into the NAF Special Emergency Operation Account.

The money, he said, was in turn paid into McAllan Oil & Gas Limited, Delfina Oil & Gas Limited and Trapezites BDC to the tune of about N15 billion.
He explained that investigation revealed how this fund was used to acquire property in Abuja, Ikoyi, Victoria Island and United Kingdom, respectively.

Consequently, Justice Chukwujeku Aneke adjourned the case till March 7 for continuation of trial.
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