N3.97bn SCAM: Court Remands Ex-Chief Of Defence Staff, Badeh In Prison

Alex Badeh

A Federal High Court sitting in Abuja has remanded a former Chief of Defence Staff, Alex Badeh, in Kuje Prison having been arraigned before the court today (Monday) on 10 counts of money laundering. 
 

The EFCC had on Monday last week filed 10 counts of money laundering against Badeh and a firm, Iyalikam Nigeria Limited, accusing them of fraudulently removing N3.97bn from the account of the Nigerian Air Force in 2013.

Badeh allegedly perpetrated the scam along with Iyalikam Nigeria Limited while he was the Chief of Air Staff, which was used to acquire landed properties in many choice areas of Abuja with the money.

According to the charge sheet, the alleged assets include a mansion at No. 6, Ogun River Street, Off Danube Street, Maitama, Abuja, bought  at N1.1bn; and a commercial plot of land at Plot 1386, Oda Crescent Cadastral Zone A07, Wuse II, Abuja, for N650m.

The charges indicated that the sum of N878m was  allegedly paid for the construction of a shopping mall at Plot 1386, Oda Crescent Cadastral Zone A07, Wuse II, Abuja, and another sum of N304m to complete the construction.