Obanikoro agrees to return monies he stole to FG

Former Minister of State for defense, Senator Musiliu Obanikoro, may soon leave EFCC’s custody.

The development is coming on the heels of Obanikoro’s willingness to refund the monies he collected from Dasuki Sambo.

Obanikoro is being accused by EFCC for collecting N4.685 from ONSA while in office.

It is reported that Obanikoro plans on refunding N100 million naira as part of the first tranche of installment.

A total amount of N4.685 billon was transferred to Sylva McNamara Limited, a company linked to Obanikoro.

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Obanikoro told EFCC interrogators that N3.880 billion of the N4.685 billion was allocated to Governor Ayodele Fayose.

An EFCC source, who spoke in confidence, said: “The ex-minister has been cooperating with detectives.

“He appears willing to refund some cash out of the N785 million traced to Sylvan McNamara.

“I think his associates and friends have rallied around him, having discovered that the bulk of the cash went to Fayose and Omisore.

“The refund is one of the issues delaying the granting of bail to the ex-minister.”

Obanikoro had said:  “When bomb blast occurred in Lagos on the 25th of June 2014, the NSA was disturbed.

“He told me of his commitment to ensure that such doesn’t reoccur.

“He expressed the grave consequence that the reoccurrence will have not only on Lagos but the economy of the country.

“He emphasized the need for local input to complement the activities of security agencies.

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“This was how Sylvan McNamara was introduced,” Obanikoro said.

The EFCC had discovered that Sylvan Mcnamara Limited, owned by Obanikoro and his sons, was used to launder N4.745 billion.

EFCC claimed that Sylvan Mcnamara’s bank account was used to draw the N4.745 billion from ONSA.

The fund was thereafter used as war chest used in prosecuting the Ekiti Governorship poll.