Did the Stallion Group, a firm owned by Indian businessmen, donate money to the Peoples Democratic Party (PDP) through the office of the National Security Adviser? This is a subject of investigation by the Economic and Financial Crimes Commission (EFCC), which invited Harprrie Singh, managing director of Stallion Group, over an alleged N1.275billion gift to Bashir Yuguda, former Minister of State for Finance. However, the EFCC believed that the money was given at the instance of the Office of the National Security Adviser (ONSA ) for political campaign. EFCC is currently investigating companies that pledged their money to finance the 2015 general election.
Singh was reportedly interrogated yesterday by EFCC’s operatives for about 10 hours (from 10am to 8.22pm). An EFCC source said that Singh was invited to assist EFCC’s investigators based on findings by the commission. ”Stallion’s name cropped up when investigators scrutinizing transactions carried out by the former NSA with Jabbama Company, a bureau de change operator, stumbled on evidence that Stallion Group also paid N1.375billion to the company though N100million of the money was later returned, leaving a balance of N1.275billion.
“Investigation further revealed that Jabbama converted the money into United States Dollars ($114,750,000) and handed it to Ambassador Bashir Yuguda, former Minister of State for Finance who is already being prosecuted on multiple charges of fraud and money laundering.
“Yuguda was said to have explained to EFCC interrogators that, the N1.175billion received from the Stallion Group was at the instance of former NSA, Dasuki, for political purposes,” the source alleged.
It stated further “in the statement that he volunteered to interrogators, Singh claims his company has a $170million contract with the ONSA to supply some vehicles and that, he had already supplied the first batch of 50 vehicles since November 2014 for which he was yet to be paid.
“Additionally, he confessed that the money he gave to Yuguda was at the request of both Dasuki and Yuguda, to support their party. Detectives at the EFCC are left wondering why a corporate organisation will, instead of making donation to any political cause through the relevant political parties, route the fund through the NSA.
“They are also wondering whether the money was an inducement for a contract awarded to the company by the NSA.”
The source also revealed that Yuguda allegedly admitted in his Statement of Witness to EFCC, that he liaised with Stallion Limited, gave the details of other disbursements.
By Dike Onwuamaeze