Abuja - The Managing Director of Stallion Group, Harprrie Singh, has been arrested by the Economic and Financial Crimes Commission for allegedly making N1.3billion ‘questionable payment’ to a former Minister of State for Finance, Bashir Yuguda.
A source at the commission disclosed that 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, although N100million of the money was later returned, leaving a balance of N1.275billion.
Also read: WATCH: #Dasukigate: The wrap sheet
Investigation further revealed that Jabbama converted the money into United States Dollars ($114 750 000) and handed it to 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.
EFCC wants to know why organisation would, instead of making donation to any political cause through the relevant political parties, route the fund through the NSA.
- News 24