Abubakar Madaki, an investigator with the Economic and Financial Crimes Commission has said $900,000 belonging to the Nigerian Air Force was found in the account of former Chief of Air Staff, Air Chief Marshal Badeh (retd.).
Badeh is standing trial for allegedly laundering money and diverting N3.97bn from NAF’s account.
Madaki, led by the prosecuting counsel, Mr. Rotimi Jacobs (SAN), was testifying as the 18th prosecution witness in Badeh’s ongoing trial at the Federal High Court, Abuja.
Madaki said the $900,000 was deposited into Badeh’s First Bank accounts between 2012 and 2013.
He said, “A total of $900,000 between November 2012 and October or November 2013 was found deposited in the account. The money is believed to be part of funds we are investigating.”
He added that it was also discovered that Badeh and his wife earlier incorporated a company Iyalikam Nigeria Limited” in whose accounts they allegedly diverted NAF’s funds.
He also said the sum of N558.2m was being removed from NAF’s account and set aside for Badeh on a monthly basis.
The witness said, “The first defendant was the Chief of Air Staff and subsequently the Chief of Defence of Staff.
“Funds from the Nigerian Air Force were being diverted to the second defendant (Iyalikam).
“We also discovered that N558,200, 000 was being set aside for the first defendant from the NAF account every month.
“Part of the funds was exchanged into dollars and handed over to the first defendant.
“Some fractions of the funds were being distributed as directed by the first defendant.
“The major part of the funds was exchanged into dollars and was used to acquire choice properties in Abuja by the director of finance, Salisu Yishau.
“The part of the funds was moved to Right Builders owned by PW4, Mustapha Yerima.”