An investigation by the Presidential Committee on Audit of Defence Equipment Procurement from 2007 to 2015 (CADEP) has traced about N2billion, meant for the purchase of vehicles for the Nigerian Army, to the accounts of five children of a former Chief of Army Staff.
The children used 2 companies -Chok Ventures Ltd and Integrated Equipment Services Ltd, as proxies for the deals, according to the Presidential Committee on Audit of Defence Equipment Procurement (CADEP).
“The committee further established that between March 2011 and December 2013, the two companies exclusively procured various types of Toyota and Mitsubishi vehicles worth over N2, 000,000,000.00 for the Nigerian Army without any competitive bidding.
“Most of the contracts awarded to the companies were also split, awarded on the same date or within a short space of time at costs and mobilization higher than the prescribed thresholds.
There were no credible evidence of delivery of the goods to the Nigerian army, the panel added. It said the accounts of the companies have been frozen.