Managing Director of Stallion Group, Harprrie Singh, was arrested on Thursday, by the Economic and Financial Crimes Commission for gifting about N1.3billion to a former Minister of State for Finance, Bashir Yuguda.

The involvement of Singh in the arms procurement investigation, came to the fore when his company, Stallion Group was discovered to have had dealings with Jabbama Company, which the former National Security Adviser, Colonel Sambo Dasuki (rtd), used in carrying out cash transactions.

The EFCC investigators came across evidence that Stallion Group also paid N1.375billion to Jabbama company, N100million of which was later returned.

Jabbama, a bureau de change operator, was said to have converted the money into United States dollars ($114,750,000) and handed it to Yuguda.

According to the EFCC, Yuguda has confessed that he was prompted by Dasuki to receive the money from Singh for political purposes.

Singh, on his part, revealed to the EFCC that his company had a $170million contract with the Office of the NSA to supply some vehicles.

He said the first batch of 50 vehicles had been supplied since November 2014, but he was yet to receive payment for the deal.

Singh also admitted giving money to Yuguda and Dasuki, after being requested to support their party.