The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arrested Adam Yusuf, a Deputy Commandant of the Nigerian Security and Civil Defence Corps (NSCDC) in Kogi State, over the alleged diversion of more than N3 billion.
The anti-graft agency is also investigating a former Chief of Naval Staff, Vice Admiral.Usman Jibrin (rtd).
In a statement on Friday, ICPC’s Director of Public Enlightenment and Education, Demola Bakare, confirmed that Mr Yusuf, who had been on the run, was apprehended at his residence in Gwagwalada, Abuja. He was arrested alongside Mr Jibrin, and both men are now set to face prosecution.
“ICPC investigations revealed that former Chief of Naval Staff, Vice Admiral Usman Jibrin (rtd.), allegedly orchestrated the fraud through Yusuf and former Brigadier General Ishaya Bauka Gangum (rtd.).
“The alleged scheme reportedly involved the diversion of public funds using 92 fictitious companies that were not registered with the Corporate Affairs Commission (CAC),” he said.
Mr Yusuf is alleged to have acted as a front for Mr Jibrin, facilitating suspicious financial transactions for the acquisition of high-value properties.
ICPC said intelligence reports also suggest that he purchased several immovable assets abroad, including in Dubai, through proxies. Another alleged associate, Ademu Mohammed, was reportedly used as a front to acquire additional properties on behalf of Mr Jibrin.
The Nation Newspaper reported that the legal battle over these assets dates back to 2019. On 25 November 2019, trial judge Taiwo Taiwo of the Federal High Court in Abuja (now retired) granted an interim forfeiture order on several properties linked to the suspects, pending a formal hearing on their permanent forfeiture.
In its application, the ICPC identified some of the assets as hotels, filling stations, residential apartments, and undeveloped parcels of land across Abuja, Kogi, and Rivers states.
The commission argued that these properties were acquired through money laundering, using 13 front companies.
However, on 28 July 2022, Mr Taiwo vacated the interim forfeiture order and released the properties back to Messrs Jibrin and Yusuf, ruling that the ICPC had failed to prove its case.
Dissatisfied with the ruling, the ICPC filed a five-ground notice of appeal on 15 September 2022, contending that Mr Taiwo erred in law by ordering the release of the properties despite substantial evidence of financial crimes.
Among the properties listed in the appeal were: Ummays Hummays Energy (petrol filling stations) at various locations in Gwagwalada, Abuja and Oyibe Hotels & Suites Limited in Lokoja, Kogi State.
Others include Lahab Bakery in Lokoja, Kogi State, luxury residential properties in Guzape and Asokoro, Abuja and a three-bedroom terrace housing unit at NAF Harmony Estate, Port Harcourt, Rivers State.
The ICPC argued that Mr Taiwo’s ruling was “unreasonable, unwarranted, and unsupported by evidence,” citing unevaluated affidavit exhibits that linked the properties to laundered funds.
The commission also claimed that the trial judge failed to consider key witness testimonies, including that of Sayeed Muhammed, who allegedly paid for some properties on the orders of Messrs Yusuf and Jibrin.
Mr Bakere, said the commission traced the diverted funds to companies including Lahab Integrated and Gate Coast Properties, leading to the acquisition of at least 18 properties.
He added that four of these properties have been forfeited to the federal government, while legal proceedings continue over the remaining assets.
Mr Bakare added that efforts are being intensified to apprehend other suspects still at large.
