Former Minister of State for Defence, Senator Musiliu Obanikoro has reportedly agreed on new terms with anti-graft agency, Economic and Financial Crimes Commission (EFCC).
The former Minister, according to Punch, was reported to have agreed to return the sum of N480m to the Federal Government.
Along with the offer to return the sum, the former minister was also reported to have submitted his United States of America and Nigerian passports to the anti-graft agency to avoid him leaving the country.
The new terms agreed upon by both parties, Musiliu Obanikoro and the Economic and Financial Crimes Commission (EFCC) also included the provision of two sureties, who are directors of the Federal Civil Service by the former minister.
A source close to the case said: “The EFCC asked Obanikoro to submit his passports. He was only willing to drop his Nigerian passport but he has finally submitted the American one. He was asked to produce two directors, who must also present a three-month salary pay slip.
“He has returned N100m and has pledged to return N480m. The actual balance is meant to be N685m, but he was able to provide receipts for some transactions. He paid N85m to someone and that person has been traced.
“He also bought some bulletproof vehicles when he was minister and they will be handed over to the EFCC. The cost of the vehicles will be deducted from the amount that should be returned. Having met the conditions, he should be released any time from now.”