The Independent Corrupt Practices and Other Related Offences Commission, ICPC, has arrested Adam Imam Yusuf, a Deputy Commandant of the Nigeria Security and Civil Defence Corps, over allegations of diverting more than N3 billion in public funds.
Yusuf was arrested at his residence in Gwagwalada, Abuja
The investigation traced the fraud to former Chief of Naval Staff, Vice Admiral Usman Jibrin (retired), who allegedly orchestrated the scheme through Yusuf and former Brigadier General Ishaya Bauka Gangum (retired).
The operation involved 92 fictitious companies that were not registered with the Corporate Affairs Commission.
Funds were funneled through these entities into businesses like Lahab Integrated and Gate Coast Properties, with large sums used to acquire over 18 properties, including filling stations.
So far, four properties have been forfeited to the Federal Government, while legal proceedings continue to recover the rest.
ICPC spokesperson Demola Bakare confirmed in a press release on Friday that efforts are ongoing to arrest other suspects still at large.
The commission reaffirmed its commitment to tackling corruption, ensuring accountability, and holding public officials responsible for financial misconduct.
Crediblenewsng.com
