This was disclosed on Friday by Bolaji Owasanoye, the chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

Owasanoye spoke at a forum titled “National Policy Dialogue on Corruption and Insecurity in Nigeria” that took place at the ICPC headquarters in Abuja.

He noted that research and investigations by the National Security Agency and the ICPC on the issue of insecurity had shown that public sector corruption directly and indirectly enabled insecurity and could sometimes complement it.

Owasanoye claims that the former military chief bought properties in Abuja with the looted funds.

He pointed out that the properties had been purchased using the identities of the military chief’s cronies and proxies.

Owasanoye further stated that the ex-military officer also converted some of the properties paid for by his service to his use.

He said ICPC prosecution of the former military chief to recover all the assets has been frustrated by a High Court judge who recently retired.

Owasanoye claimed that the judge forfeited some of the assets to FGN and the rest was left to the suspect.

He said, “Some former military and security personnel are being investigated by the ICPC and our sister agency (the Economic and Financial Crimes Commission) for embezzlement of funds allocated to security.

“For example, a former head of one of the arms of the military, in the twilight of his tenure, deposited the sum of N4bn from military budget into the accounts of two companies where he is the beneficial owner and sole signatory.

“The proceeds were used to purchase properties in Abuja in the names of cronies and proxies. Some of the properties paid for by his service were also fraudulently converted to his use.

“ICPC’s prosecution of this high ranking officer to recover all the implicated assets was strangely and perversely frustrated by a recently retired High Court judge who decided to forfeit some of the assets to FGN and the rest left to the suspect.

“While the commission has filed a notice of appeal, this strange development aggravates an already bad situation and escalates insecurity and impunity.”

He noted that cases of job racketeering abound in the security sector, disclosing that many of them were under investigation by the ICPC.

He lamented that corruption has contributed to the insecurity in the country.