Home FEATURES EFCC Freezes Falae’s Account Over Alleged N4 Billion Campaign Fund Scam

EFCC Freezes Falae’s Account Over Alleged N4 Billion Campaign Fund Scam

Olu Falae
Olu Falae

The Economic and Financial Crimes Commission (EFCC) is said to have frozen the bank account of a company belonging to a former Secretary to the Government of the Federation, Chief Olu Falae.

It was learnt that the account with the United Bank for Africa titled Marecco Nigeria Limited with number 1000627022, was frozen as part of investigations into the N4 billion said to have been disbursed by the Goodluck Jonathan Campaign Organization during the build-up to the 2015 presidential election.

Both Falae was accused of having received N940 million from the Director of Finance of the campaign organization, Senator Nenadi Usman, during the build-up to the election.

The money was said to have emanated from the account of the National Security Adviser (NSA) which is domiciled in the Central Bank of Nigeria.

While Falae who was the Chairman of the Social Democratic Party (SDP) was said to have collected N100 million on behalf of his party.

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This is even as Falae had said that he never knew that the money received was that of the government, saying: “It is true that N100 million was given to my party to endorse and work for Jonathan candidacy in the 2015 presidential election. We used the money for that purpose and we effectively campaigned for the PDP since we did not have a presidential candidate in the election. The money was not for me.

“Thank God, I’m a retired civil servant. I have all the documents to prove all that transpired between the two parties. With all the money the PDP has and having spent 16 years in power, how would I have known that the money was from the arms deal? No reference was made to the arms deal. So, they should not bring me into the arms issue.” [myad]

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