A prosecution witness at the Federal Capital Territory High Court has provided a detailed account of how billions of naira meant for arms procurement were allegedly diverted and shared among various companies. The testimony centres on funds from the office of the former National Security Adviser, Colonel Sambo Dasuki (rtd).
The Money Trail: From ONSA to Company Accounts
Michael Adarikun, an investigator with the Economic and Financial Crimes Commission, testified before Justice Charles Agbaza on Tuesday. He stated that on 17 April 2015, the Office of the National Security Adviser, then under Dasuki, transferred the sum of N600 million to Acacia Holdings Limited.
Adarikun explained that Acacia Holdings, alongside Reliance Referral Hospital Limited, are both owned by a former Nigerian National Petroleum Corporation official, Aminu Baba-Kusa. The EFCC is prosecuting Dasuki, Baba-Kusa, and the two companies on 32 counts of fraud, involving the alleged diversion of N33.2 billion in arms funds.
The detective told the court that an analysis of Acacia Holdings' United Bank for Africa account showed it had a meagre balance of just N27,094 shortly before receiving the N600 million infusion from the ONSA. According to his testimony, Dasuki duly authorised the payments made to the companies.
How the N600 Million Was Disbursed
The witness detailed how the N600 million was rapidly moved to other entities. He said the EFCC traced the following transactions from the Acacia Holdings account:
- On 23 April 2015, N60 million was transferred to Hidayatul Atfaal Islamic Academy on Baba-Kusa's instructions. The owner, Mohammed Tashir, informed the EFCC this was a down payment for 3.62 hectares of land in Abuja's Kiyami district.
- Zabati BDC Limited received N25 million in three instalments as part payment for a property known as 'Hospitality Property Nigeria'.
- Transfers of N100 million and N24 million were made on 24 April 2015 with no clear description.
- On 27 April 2015, N8.7 million was sent to Ibrahim Saleh for "beacon processing" of lands purchased by Baba-Kusa in various Abuja districts.
- The same day, N50 million went to Squad Developers Nigeria Limited as part payment for land in Kwali, Abuja.
- On 30 April 2015, over N33 million was transferred to O.A Akinrinmade.
Conversion to Foreign Currency and Transfers Abroad
A significant portion of the funds was converted into foreign currency. Adarikun testified that on 28 April 2015, over N55 million was sent to Pasman Investment Limited. Its owner, Farouk Suleiman, stated that Baba-Kusa contacted him to fast-track a $1 million transfer to a doctor in Saudi Arabia linked to Medical Plastics Services Limited.
Furthermore, the witness revealed that Acacia Holdings, Medical Plastic Limited, and Reliance Referral Hospital transferred over N56 million to Namuduka Ventures for conversion to dollars. The owner, Murtala Bashir, told the EFCC this money was converted to 233,944 units and sent to Baba-Kusa's Furnishing Touches account in the United Kingdom.
In a separate transaction, Namuduka Ventures received N23 million from Baba-Kusa on 13 May 2015, which was converted to €65,075 and sent to the same UK account. Another N2.22 million from Reliance Referral Hospital was converted to €1,500 and sent to a Business Free Empty account also in the UK.
Links to Baba-Kusa's Family and Company
The money trail also led directly to companies connected to the second defendant. On 4 May 2015, N70 million was transferred to Medical Plastic Limited, where Baba-Kusa's wife, Hauwa Baba-Kusa, holds 1.8 million majority shares. Another N80 million was sent to the same company on 6 May 2015.
Following this detailed testimony, Justice Agbaza adjourned the case to 14 January for continuation. This case is part of a wider probe into arms fund diversion during the administration of former President Goodluck Jonathan, when Boko Haram insurgency was at its peak in the North-east.
An audit panel set up by President Muhammadu Buhari in 2015 found approximately $2 billion for arms procurement was unaccounted for under Dasuki's watch as NSA. Dasuki has been on trial for a decade, with proceedings experiencing multiple delays initially due to the State Security Service's refusal to release him on bail.
In a related case, Dasuki is also standing trial with former Sokoto State Governor Attahiru Bafarawa, his son Sagir, former Minister of State for Finance Bashir Yuguda, and Dalhatu Investment Limited for an alleged N4.6 billion arms procurement fraud.
