N3bn Fraud: ICPC Arrests Ex-naval Chief, NSCDC Commandant

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arrested former Chief of Naval Staff, Vice Admiral Usman Jibrin, and a Deputy Commandant of the Nigerian Security and Civil Defence Corps (NSCDC) in Kogi State, Adam Yusuf, for allegedly diverting over N3 billion.
The ICPC’s Director of Public Enlightenment and Education, Demola Bakare made this known in a statement on Friday,.
 He confirmed that Mr Yusuf, who had been on the run, was apprehended at his residence in Gwagwalada, Abuja, alongside Mr Jibrin.
Bakare added  both men are now set to face prosecution, stressing that 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.).
According to him, Mr Yusuf is alleged to have acted as a middleman for Mr Jibrin to undertake suspicious financial transactions for the acquisition of high-value properties.
“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.
“ICPC intelligence reports also indicated that he purchased many immovable assets abroad, including Dubai, through proxies. 
Another alleged associate, Ademu Mohammed, was reportedly used as a front to acquire additional properties on behalf of Mr Jibrin.
( The network)