The Economic and Financial Crimes Commission has
arrested the Managing Director of Stallion Group,
Harprrie Singh, over a suspicious N1.25billion payment
he made into the account of former Minister of State for
Finance, Bashir Yuguda for Former National Security
Adviser Sambo Dasuki.
Investigations by EFCC revealed that one of the
companies being investigated in the arms deal scandal,
Jabbama Company, a bureau de change operator, had
received payment of N1.375 billion from Stallion group
with a later deduction of N100 million, leaving a balance
of N1.275billion. The money was changed into US
Dollars ($114,750,000) and handed to Yuguda.
When interrogated about the money he received, Yuguda
said the money was for a political purpose and he
collected it on behalf of Dasuki. When brought in for
questioning, Stallion group MD said that the N1.275
billion he gave Yuguda was at the request of both Dasuki
and Yuguda to support their party's election campaign.
More investigation into the matter is ongoing.
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