Arms panel indicts 300 firms, recovers N7bn

• http://newtelegraphonline.com/arms-panel-indicts-300-firms-recovers-n7bn/

  Contractors to refund N41bn

• Company overpaid €7.9m, $7.09m

• Julius Berger, Elizade, Daar Communications, RCN, others named

The presidential committee set up by President Muhammadu Buhari to probe contracts awarded by the Office of the National Security Adviser (ONSA) from 2011 to 2015 has indicted more than 300 companies and prominent Nigerians. 

The indicted persons include serving and retired officers of the armed forces. Senior Special Assistant to the President on media and publicity, Garba Shehu, in a statement yesterday confirmed that over N7 billion has been recovered so far from the companies and individuals.
Shehu said another N41 billion is to be refunded by the indicted companies while further investigation by the Economic and Financial Crimes Commission (EFCC) has been ordered to determine whether another N75 billion should be recovered from some of the companies for unexecuted or partially executed contracts.