The Federal High Court in Lagos yesterday heard how former Director of Finance and Budget at the Nigeria Air Force, Air Commodore Olugbenga Gbadebo, “diverted part of the N21 billion” allegedly stolen from NAF.
The Economic and Financial Crimes Commission (EFCC) arraigned Gbadebo along with former Chief of Air Staff, Air Marshal Adesola Amosu and former NAF Chief of Accounts and Budgeting, Air Vice Marshal Jacob Adigun before Justice Mohammed Idris.
Companies arraigned with them are Delfina Oil and Gas Ltd, Mcallan Oil And Gas Ltd, Hebron Housing and Properties Company Ltd, Trapezites BDC, Fonds and Pricey Ltd, Deegee Oil and Gas Ltd, Timsegg Investment Ltd and Solomon Health Care Ltd.
EFCC accused them of converting N21 billion from the NAF around March 5, 2014 in Lagos.
They were also accused of concealing “proceeds of crime” and thereby committed an offence contrary to Section 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 17(a).
Testifying at the trial, EFCC’s investigator, Tosin Owobo, an Assistant Detective Superintendent, said Gbadebo allegedly converted part of an emergency fund to his personal use.
The witness had earlier testified that NAF under Amosu got N3 billion from the Nigerian Maritime Administration and Safety Agency (NIMASA) for the provision of maritime security.
“The money was released to NAF Special Emergency Operation account in 2014,” Owobo said on Wednesday.
Yesterday, Owobo said while analysing how the N3billion was disbursed, it was discovered that Gbadebo transferred some of the funds to Timsegg Investment Limited