Omisore Refunds N350m Out Of N1.7b ONSA Slush Funds To EFCC

iyiola-omisoreA former Deputy Governor of Osun State, Senator Iyiola Omisore, has refunded the sum of N350 million of the N1.7 billion public funds, which he was accused of receiving from the Office of the former National Security Adviser (ONSA).

The Economic and Financial Crimes Commission, EFCC, on July 3 arrested Mr. Omisore in his Abuja home and detained him for some days before he was granted administrative bail after striking a deal with the anti-graft agency to refund the N1.7 billion in instalments.

As part of the deal, the former Osun deputy governor paid the first instalment of N300 million to the EFCC before he was allowed to go home.

It was learnt that the PDP chieftain paid   another N50million to the EFCC yesterday.

A top-level source in the EFCC confirmed the development, saying: “We hope he will pay up the balance as soon as possible”.

“We are determined to retrieve all slush funds for the nation’s use”, the source added.

It would be recalled that about N4.685billon was transferred by the ONSA to Sylva McNamara Limited, a company linked to a former Minister of State for Defence, Senator Musiliu Obanikoro.

Of the sum, about N3.880billion was allegedly given to Governor Ayodele Fayose and Senator Omisore through cash and bank transfers by Obanikoro.

Omisore’s share was said to be about N1.7billion.

The former Deputy Governor gave the list of companies which benefited from the N1.7billion slush fund that was released by the ONSA to him.

According to a report by the EFCC, some of the funds were remitted as follows: Fimex Gilt Limited (N160m) – 8/8/2014in UBA; Metropolitan Consortium (N350m) – 9/7/14 in First Bank; Sawanara (N300m) – 1/8/14 in First Bank and Metropolitan Consortium (N350m) – 1/8/14 in First Bank.

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