The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has secured the approval of the Central Bank of Nigeria (CBN) to deposit $220,965 received from a military contractor in its vault.
Also the anti-graft commission has released the contractor, Mr. Kabiru Sallau on bail.
Acting on intelligence, ICPC operatives raided Sallau’s property in Abuja.
The search warrant was executed on June 16 at No. 17, Fadrina Close, Wuse 2, Abuja.
Items recovered included N175, 706,500; $220,965 and other exotic cars and Rolex watches.
Following the cash haul, ICPC on June 21 wrote the CBN to keep the cash in its Dollars Recovery Account domiciled in the apex bank.
The CBN, through its Director, Currency Operations Department, Mr. Bala Tijjani, granted ICPC request with effect from yesterday.
A top source in the commission, said: “We have complied with necessary procedures and the cash recovered is now in safe custody.
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“As a commisdion, we believe in due process and nothing will make us circumvent it. Our records are clear and cedible. We have nothing to hide.”
Sallau, who is the Managing Director of K Salam Construction Company Nigeria Limited, is under investigation for alleged money laundering.
A statement by the spokesperson for ICPC, Mrs. Azuka Ogugua, said: “The commission wishes to state that ICPC operatives raided a property in Wuse 2 of the Federal Capital Territory (FCT), Abuja, on 16th June, 2022 between 5:00pm and 12:00am in suspicion of money laundering.
“Facts available for the time being indicate that the property is owned by owner of K Salam Construction Company, a military contractor.
“The commission recovered money and other items from the property viz-a-viz N175,706,500; $220,965; G-Wagon; 2022 editions of BMW and Mercedes Benz cars; customised mobile phones; several designer wrist watches, including three Rolexes, and some property documents.
“The commission arrested the Managing Director of K Salam Construction Company Nigeria Limited, Mr. Kabiru Sallau and investigation is ongoing.
“The commission is yet to conclude its investigation and prefers not to preempt its outcome and also avoid the frenzy of a media trial.”
