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The Independent Corrupt Practices and Other Related Offences Commission, ICPC, has arrested Adam Imam Yusuf, a Deputy Commandant of the Nigerian Security and Civil Defence Corps, NSCDC, in Kogi State, over the alleged diversion of more than N3 billion.
Yusuf, who had been at large until now, was taken into custody from his residence in Gwagwalada, Abuja, and is set to face prosecution.
ICPC investigations revealed that the former Chief of Naval Staff, Vice Admiral Usman Jibrin (rtd.), allegedly orchestrated the fraud through Yusuf and former Brigadier General Ishaya Bauka Gangum (rtd.).
The alleged scheme reportedly involved the diversion of public funds using 92 fictitious companies that were not registered with the Corporate Affairs Commission (CAC).
An investigation by the ICPC traced these funds to Lahab Integrated, Gate Coast Properties, and other affiliated companies, leading to the acquisition of over 18 properties, including filling stations.
Four of these properties have been forfeited to the government so far, while legal proceedings continue regarding the remaining assets.
The ICPC is also intensifying efforts to apprehend other suspects who remain at large.
Alleged N3bn fraud: ICPC arrests NSCDC Deputy Commandant, ex-Navy Admiral
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