Usman Jibrin, a former Chief of Naval Staff, was arrested by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in Kogi State, for allegedly diverting over ₦3 billion.
In a statement on Friday, ICPC’s Director of Public Enlightenment and Education, Demola Bakare, confirmed that Yusuf, who had been on the run, was apprehended at his home in Gwagwalada, Abuja.
He was arrested alongside a former Brigadier General Ishaya Bauka Gangum (rtd.)., and both are now set to face trial.
“ICPC investigations revealed that former Chief of Naval Staff, Vice Admiral Usman Jibrin (rtd.), allegedly orchestrated the fraud through Yusuf and former Brigadier General Ishaya Bauka Gangum (rtd.).
“The alleged scheme reportedly involved the diversion of public funds using 92 fictitious companies that were not registered with the Corporate Affairs Commission (CAC),” he said.
Yusuf is accused of acting as a front for Jibrin, helping to move suspicious funds and acquire high-value properties.
Intelligence reports also indicate that he purchased properties abroad, including in Dubai, using proxies.
Another alleged associate, Ademu Mohammed, was reportedly used to buy additional properties on Jibrin’s behalf.
“An investigation by the ICPC traced these funds to Lahab Integrated, Gate Coast Properties, and other affiliated companies, leading to the acquisition of over 18 properties, including filling stations.
“Four of these properties have been forfeited to the government so far, while legal proceedings continue over the remaining assets. The ICPC is also intensifying efforts to apprehend other suspects at large.”
KanyiDaily recalls that the Economic and Financial Crimes Commission (EFCC) also arrested Prof. Usman Yusuf, the former Executive Secretary of the National Health Insurance Scheme (NHIS), over allegations of contract fraud and financial misconduct.
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