$50m Ikoyi Money: How suspended NIA DG tried to stop NSA from ‘blowing the cover’ – Presidency

*Says Oke lied, didn’t brief Buhari, NSA

The suspended Director-General, National Intelligence Agency (NIA), Ambassador Ayodele Oke, may have further been exposed as a source in the presidency reportedly said he lied over his claim before the Yemi Osinbajo panel that the National Security Adviser (NSA), General Babagana Monguno, was aware of the discovered $50 million stashed in a private Osborne Street, Ikoyi home in Lagos, recently, which he claimed belonged to the NIA.

The DEFENDER gathered that Oke, as against his claim, only gave his first report in January 2017 when he discovered that presidential committee, which audited the Defence Equipment Procurement in the Armed Forces, had observed certain payments from the CBN to the NIA and had raised questions drawing the attention of the NSA.

In order to forestall the NSA from “blowing the cover” thereby saving himself from being exposed, it was further learned that the suspended DG NIA quickly moved and gave his first report to the NSA on the existence of such funds and warned that the presidential committee’s job does not cover the activities or the spendings of the NIA.

A government official reportedly told journalists on Saturday that in the first instance, “Oke did not brief the NSA at all about the existence of such funds – $289m – or the projects they were meant for when the Buhari administration took office in May 2015, even though the money had been released in March the same year.”

The official stated that, “The NSA office only got its first knowledge of the existence of such funds during the work of the presidential committee that audited the Defence Equipment Procurement in the Armed Forces. The Committee had observed certain payments from the CBN to the NIA and raised questions drawing the attention of the NSA.

“When the suspended DG of the NIA discovered that the Committee was raising questions and to forestall the NSA from “blowing the cover,” he then gave his first report to the NSA on the existence of such funds and warned that the Committee’s job does not cover the activities or the spendings of the NIA.

“The projects for which the former President approved the funds totaling $289m included two in Lagos which costs were put at about $28m, which is way less than the $43m cash found in the Ikoyi apartment. Sources explained further that as at January this year, funds for the Lagos projects had actually been released to the tune of $18m, meaning only about $10m was left to be paid four months ago, before $43m was found in the Lagos apartment recently.

“The Presidential Committee on Audit of Defence Equipment Procurement, in the course of its assignment came across information that the NIA received a huge sum of money in early 2015 from the former President. Based on this the NSA carried out a preliminary investigation during which the NIA claimed the money was released for some projects aimed at commencing the Agency’s 30th anniversary.  This was in January 2017.”

“Subsequently, a team was constituted to ascertain the situation. The first suspicion of a potential abuse was noticed at this stage, according to sources, especially considering the amount of money involved and the purposes stated.

“This was how the NSA and the Presidency learnt of the existence of such funds. We were not told by anyone in NIA until the Committee saw something, and raised a red flag. However, when the embattled NIA top spy was now compelled to explain what was happening, he still did not inform anyone in the Federal Government or Presidency that he kept $43m of the said funds in cash at a private apartment anywhere in Lagos or any part of the country.

“This is the issue: the NSA was not told that NIA had this lump cash stashed away in the place it was eventually discovered by EFCC. In any case, extant rules are clear that such monies ought only to be placed in the NIA headquarters or in CBN vaults.

“There are also instances where CBN actually paid out some of the funds directly to some NIA contractors, raising questions why the suspended NIA needed to put aside such huge cash in a private apartment.”

“The projects for which the former President approved the funds totaling $289m included two in Lagos which costs were put at about $28m, which is way less than the $43m cash found in the Ikoyi apartment. Sources explained further that as at January this year, funds for the Lagos projects had actually been released to the tune of $18m, meaning only about $10m was left to be paid four months ago, before $43m was found in the Lagos apartment recently.

“So let us even assume that the NIA DG wanted to keep funds in Lagos for the Lagos based projects, he did not need that much for the total of the Lagos projects at all. And apart from that it is completely untenable to stash away agency money in a private apartment instead of keeping it with the CBN or inside the NIA head office where the money would be well-secured and its disbursement well protected. “