The Economic and Financial Crimes Commission has filed 10 counts of money laundering against the immediate past Chief of Defence Staff, Air Marshal Alex Badeh (retd.), accusing him of removing a total sum of N3.9bn from the accounts of the Nigerian Air Force between January and December, 2013.

Badeh, who has remained in EFCC custody since February 8, is charged along with a firm, Iyalikam Nigeria Limited, before Justice Okon Abang of the Federal High Court in Abuja.

The relationship between Badeh and the company is not disclosed in the charges.

Badeh, who is also a former Chief of Air Staff, will likely be arraigned along with the company on Thursday (today).

Another judge of the Federal High Court in Abuja, Justice James Tsoho, had on Monday fixed March 4 (Friday) for ruling on Badeh’s bail application.

The anti-graft agency in the charges, numbered FHC/ABJ/CR/46, 2016, accused Badeh and Iyalikam Nigeria Limited of spending the total sum of N3,974,362,732.94, on acquisition, construction, renovation, furnishing of various properties, including a shopping mall in many choice areas of Abuja.

Some of the properties were said to have been purchased, renovated and furnished for a son of the former CDS, Alex Badeh (Jnr.).

The properties allegedly include a mansion at No. 6, Ogun River Street, off Danube Street, Maitama, Abuja, which the defendants were said to have purchased with N1.1bn.

The accused also allegedly bought a commercial plot of land at Plot 1386, Oda Crescent, Cadastral Zone A07, Wuse II, Abuja, for N650m.

Read more at : Punchng.com