Obanikoro is Alleged to offer refund of N785m slush fund

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Obanikoro offers to refund N785m slush fund

Embattled former Minister of State for Defence, Senator Musiliu Obanikoro may soon be let out of custody by the Economic and Financial Crimes Commission (EFCC) following indications that he has agreed to make refunds of the money he allegedly collected from the Office of National Security Adviser (ONSA).
The anti-graft agency accused the ex-minister of collecting N785 million from ONSA while in office.

His friends and associates are understood to be rallying around him to raise the funds as a first step to secure his bail.
Obanikoro is understood to be targeting  N100 million as first installment  of the refund.
From ONSA, about N4.685 billon was transferred to Sylva McNamara Limited, a company allegedly linked to the ex-Minister.
Obanikoro told EFCC interrogators  that N3.880 billion of the N4.685 billion was allocated to Governor Ayodele Fayose  of Ekiti State  and  Senator Iyiola Omisore.
He also said he handed over $5.377 million (about N60 million then) cash to Fayose at Spotless Hotel, Ado-Ekiti in the presence of the former Secretary of the Peoples Democratic Party in the state, Dr. Tope Aluko and other party stalwarts.
He said the balance of N785 million was expended on alleged anti-Boko Haram campaign in Lagos and the South-West.
A source, who spoke in confidence, said: “The ex-minister has been cooperating with detectives and he appears willing to refund some cash out of the N785 million traced to Sylvan McNamara.

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