“EFCC Found $1m Cash In Badeh’s N1.1bn Abuja Mansion” (photo)

The Economic and Financial Crimes Commission told a Federal High Court in Abuja on Thursday that its operatives found cash sum of $1m in the bedroom of an Abuja mansion of the former Chief of Defence Staff, Air Marshal Alex Badeh (retd).
The anti-graft agency alleged that the ex-CDS purchased the house in which the money was found with dollar equivalent of N1.1bn said to have been fraudulently removed from the accounts of the Nigerian Air Force in 2013.
It said although, Badeh had denied ownership of the property, his belongings, including photographs were found in it during a search by the operatives of the commission.
This was part of the submission of EFCC’s lawyer, Mr. Rotimi Jacobs (SAN), while opposing the bail application filed by Badeh, who is currently on remand in Kuje prison with respect to his ongoing trial for alleged diversion of about N3.97bn belonging to the Nigerian Air Force.
Justice Okon Abang had on March 7 ordered that Badeh be remanded in prison shortly after the EFCC arraigned the former military chief and a company, Iyalikam Nigeria Limited, on 10 counts of money laundering.
The judge had fixed Thursday for hearing of the bail application.
Prison authorities did not produce the the former Chief of Defence Staff in court on Thursday, but the judge later ruled that his presence could be dispensed with under section 266 of the Administration of Criminal Justice Act, since the proceedings were for the hearing of an interlocutory application.
Jacobs while opposing the bail application on Thursday urged the trial judge, Justice Okon Abang, not grant bail to Badeh, who was said to have perpetrated the alleged fraud while he was the Chief of Air Staff.

 Source http://www.punchng

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