Metro Arms Deal: N2bn Traced to Children of Nigeria's Ex Army Chiefs



Two billion naira, part of the $15bn released for purchase of weapons for the Nigerian army, has been traced to children of ex army chiefs, The Nation reports.

The children used 2 companies -Chok Ventures Ltd and Integrated Equipment Services Ltd, as proxies for the deals, Presidential Committee on Audit of Defence Equipment Procurement (CADEP).

“The committee further established that between March 2011 and December 2013, the two companies exclusively procured various types of Toyota and Mitsubishi vehicles worth over N2, 000,000,000.00 for the Nigerian Army without any competitive bidding.

“Most of the contracts awarded to the companies were also split, awarded on the same date or within a short space of time at costs and mobilization higher than the prescribed thresholds.

There were no credible evidence of delivery of the goods to the Nigerian army, the panel added.

It said the accounts of the companies have been frozen.

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