I’ll refund N785million says Obanikoro

Mr. Musiliu Obanikoro has offered to refund N785 million to the Economic and Financial Crimes Commission (EFCC) according to The Nation.He was accused him of collecting N785 million from the Office of the National Security Adviser.His friends and associates are understood to be rallying around him to raise the funds as a first step to secure his bail. Obanikoro is understood to be targeting  N100 million as first installment  of the refund.The former minister has been in detention with the EFCC since voluntarily accepting the invitation of the anti-graft body last week for interrogation.It was reported last week that Obanikoro confessed to funding the election of Ayo Fayose in 2014 as Ekiti Governor through funds gotten from the office of the National Security Adviser. The amount was said to be  N4.685 billion. Of the amount stated, Obanikoro told the EFCC that N3.880billion was allocated to Governor Ayo Fayose and Senator Iyiola Omisore.He also said he handed over $5.377 million (about N60 million then) cash to Fayose at Spotless Hotel, Ado-Ekiti in the presence of the former Secretary of the Peoples Democratic Party in the state, Dr. Tope Aluko and other party stalwarts.A source, who spoke in confidence, said: “The ex-minister has been cooperating with detectives and he appears willing to refund some cash out of the N785 million traced to Sylvan McNamara.“I think his associates and friends have rallied around him, having discovered that the bulk of the cash from ONSA went to Fayose and Omisore.“I think he might initially refund N100 million to get bail reprieve in order to prevail on others who benefited from the N785 million to repay the slush funds.“The refund is one of the issues delaying the granting of bail to the ex-minister.”