Breaking: Ex-Minister, Musiliu Obanikoro, Returns Extra Loot to EFCC

As a condition for his release, Former Minister for Defence, Musiliu Obanikoro has submitted to sign an agreement to return an additional amount of about N480million after refunding about N100million yesterday to the Economic Financial Crimes Commission, EFCC. This comes at the heels of his arrest on Thursday after he was detained by the anti-graft committee on charges of money laundering in relation to the infamous arms deal. It has been reported that he is willfully co-operating with the commission as he had also surrendered his American and Nigerian passports. The sum of the amount to be returned by the Minister totals about N685 million. Asides this figure, a sum of N85 million was is to be handed over to the EFCC which he tendered the receipt and the account has been traced.Bullet proof cars which he acquired in his time of serving in government would also be confiscated by the EFCC and subtracted from the total to be paid.An additional N785 would be returned by the ex-minister making it a total of 1 Billion, 365 million to have been returned.As instructed, he has also provided 2 sureties who must be directors. “”¦.having met these conditions, he should be released anytime from now.” sources said.