Former Defence Chief Badeh Remands In Prison, Pleads Not Guilty To N4 Billion Financial Scam

Posted by African Examiner Featured, Latest Headlines, News Monday, March 7th, 2016

By Ganiyu Nasirudeen

Former Chief Defence Staff (CDS) Alex Badeh has been remanded in Kuje prison, by a Federal High Court, sitting in Abuja.

Badeh is being prosecuted by the Economic and Financial Crimes Commission (EFCC) over 10 count charge alleged financial crime.

The former CDS lost in his bail application last Friday in another Federal High Court in Abuja, as he contended that the conditions of administrative bail granted him by the EFCC was impossible to meet, while the order by a Lagos Magistrate court for him to be remanded was not properly obtained by the EFCC.

The retired Security Chief who pleaded not guilty to all the charges before Justice Okon Abang is being arraigned alongside with a private firm – Iyalikam Nigeria Limited.

The N4 Billion money laundering against Badeh dated back between 2013 and 2014 when he was still the Chief of Air Staff.

He was first arraigned on the alleged crime last week Monday and being accused of fraudulently removing the sum of N3.97bn from the account of the Nigerian Air Force, into Iyalikam Nigeria Limited account.

Among the assets listed and allegedly acquired by Badeh with the alleged loot include one mansion at 6, Ogun River Street, Off Danube Street, Maitama, Abuja, estimated at N1.1bn; a commercial plot of land – sited at Plot 1386, Oda Crescent Cadastral Zone A07, Wuse II, Abuja, for N650m, as well payment of the sum of N878 million for construction of ultra modern shopping mall at Oda Crescent Cadastral Zone A07, Wuse II, Abuja and others.