₦33.2bn Arms Procurement Fraud: EFCC Witness Traces ONSA Funds to Private Properties, Foreign Accounts
By Naija Enquirer Staff
The trial of a former National Security Adviser, Colonel Sambo Dasuki (retd), continued on January 13, 2026, before Justice C.O. Agbaza of the Federal Capital Territory High Court, Maitama, with the Economic and Financial Crimes Commission (EFCC) detailing how funds allegedly moved from the Office of the National Security Adviser (ONSA) to private individuals, companies and foreign accounts.
Testifying as the first prosecution witness, Dr. Michael Adariku, an EFCC investigator, gave a detailed breakdown of financial transactions traced to the ONSA account during proceedings led by prosecution counsel, Rotimi Jacobs, SAN.
According to the witness, on April 17, 2015, a sum of ₦600 million was transferred from the ONSA account domiciled with Zenith Bank to Acacia Holdings Limited, an account which previously held a balance of just ₦27,094.49.
He further told the court that on April 23, 2015, ₦60 million was transferred to Hidayatul Atfaaf Islamic Academy. Investigations revealed that the funds were part-payment for the purchase of 3.62 hectares of land located in Kyami District, Abuja, allegedly acquired by the second defendant, Aminu Baba Kusa, a former General Manager of the Nigerian National Petroleum Corporation.
On the same day, ₦25 million was paid in tranches to Zavati BDC Limited as part-payment for a hospitality property valued at ₦40 million. The outstanding balance, the witness said, was later paid through an agent acting on behalf of the second defendant.
Dr. Adariku also disclosed that several other transfers were made between April 24 and April 28, 2015, including ₦124 million with no clear narration, ₦8.1 million for survey and beacon processing of multiple plots of land in Abuja, and ₦50 million paid to Squad Developers Nigeria Limited for the acquisition of over 118 hectares of land in Kwali, FCT.
Further testimony revealed that ₦55.9 million was transferred to Fastman Investment Limited on the instruction of the second defendant, which was later used to facilitate the transfer of $630,000 to a medical services provider in Saudi Arabia. The naira equivalent of the foreign transfer was allegedly sourced from multiple companies linked to the defendants.
The witness also told the court that substantial sums were transferred to Medical Practice Limited, a company owned by the wife of the second defendant, bringing total transfers to the firm between April and May 2015 to ₦150 million.
Additional transactions involved the conversion of naira funds into foreign currencies, which were allegedly transferred to accounts in the United Kingdom linked to the second defendant, including Blue Lake Management Consultancy and Furnishing Touches.
According to the EFCC investigator, these transactions occurred between April 1 and May 15, 2015, involving multiple corporate entities and individuals, with funds allegedly converted into dollars and euros before being moved offshore.
The matter was adjourned to January 14, 2026, for continuation of trial.
Dasuki, alongside Aminu Baba Kusa, Acacia Holdings Limited and Reliance Referral Hospital Limited, was re-arraigned by the EFCC in March 2025 on a 32-count charge bordering on breach of trust and dishonesty involving ₦33.2 billion.
