N85Billion NPA Contract Scam: EFCC Nails Bode George

Posted by By Henry Ojelu on 2009/01/23 | Views: |

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N85Billion NPA Contract Scam: EFCC Nails Bode George

An EFCC official, Bello Bamanga, this morning, gave a damning revelation of how the Chief Bode George-led NPA board, between 2001 and 2003, fraudulently split and awarded various contracts to their companies, at inflated prices.

An EFCC official, Bello Bamanga, this morning, gave a damning revelation of how the Chief Bode George-led NPA board, between 2001 and 2003, fraudulently split and awarded various contracts to their companies, at inflated prices.

Making the revelation before Justice Olubunmi Oyewole, of the Ikeja High Court, Bamanga explained that the EFCC found out that contracts were split by the board and awarded to different companies owned by the same persons.

He explained that during their investigation of the contract fraud at the NPA, during that period, the EFCC went to the market to ascertain the prevailing prices of the items to be supplied and discovered that the sums were hyper-inflated.

He further explained that the Bode George-led board was aware of the hyper-inflation, but went ahead to award the contract, knowing their limitations in awarding contracts.

Bamanga also pointed out that the inflated contracts were at variance with stipulations in a circular issued by government relating to financial regulations and public service rules. As at the time of filing this report, Bamanga was still telling the court what the EFCC discovered.

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