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Ikoyi Recovery: NSA Denies Possession of $44m

National Security Agency, NSA, has denied having any knowledge hinting that the $44 Million Ikoyi Recovery is in its possession.

The whereabouts of the money recovered in 2017 is currently a mystery, as the National Security Adviser, General Babagana Monguno, rtd., said his office has no connection to the funds.

The NSA Boss, who was represented by the Director of Finance and Admin, Brig. General Ja’afaru Mohammed disclosed this while being quizzed by members of the House of Representatives in Abuja yesterday.

While fielding questions from the House Ad-hoc Committee investigating the ‘Management of Recovered Fund, Movable and Immovable Assets Between 2002 and 2020,’ Mohammed noted that the only fund recovered from NIA by the Office of the National Security Adviser, ONSA, was about $41 Million.

He further explained that money was identified in the agency’s vaults while NIA was undergoing investigations and restructuring, had since been returned to the agency as directed by President Muhammadu Buhari at the time.

Ikoyi Recovery

The Finance/Admin Director admitted he was instructed to oversee the money recovered from the NIA. He refused to attribute the discovered $41 Million to the $44 Million Ikoyi recovery, even after stating his involvement in counting the funds.

Mohammed later revealed that any fund retrieved by the Committee on Recovered Assets, set up by President Buhari, was immediately remitted into the Recovered Funds Account, domiciled with the Central Bank of Nigeria, CBN.

He stressed that money can only be deposited into the account with CBN but cannot be withdrawn, not even by the recovery committee under the coordination of the ONSA.

Even while the committee on assets recovery under the jurisdiction of ONSA, Mohammed was quick to add that Babagana Monguno has no input into the committee’s operations as it operates independently.

Recall the missing fund was retrieved from the National Intelligence Agency, NIA, by a team from the anti-graft agency- Economic and Financial Crimes Commission, EFCC, who once claimed the recovered fund was in the custody of NSA.

The Chairman of the Ad-hoc Committee, House of Representatives, Adejoro Adeogun, had quoted the EFCC as saying that the fund recovered from the Osborne Apartment in Ikoyi was in the custody of the ONSA.

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