The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arrested former Chief of Naval Staff, Vice Admiral Usman Jibrin, and Adam Yusuf, a Deputy Commandant of the Nigerian Security and Civil Defence Corps (NSCDC) in Kogi State.
Naija News reports that the duo were arrested over the alleged diversion of more than ₦3 billion in public funds.
Both men are expected to face prosecution for their involvement in the fraudulent activities.
In a statement issued on Friday, Demola Bakare, ICPC’s Director of Public Enlightenment and Education, confirmed the arrests, noting that Yusuf, who had been evading authorities, was finally apprehended at his residence in Gwagwalada, Abuja.
The commission’s investigation revealed that Jibrin allegedly orchestrated the fraud through Yusuf and another associate, former Brigadier General Ishaya Bauka Gangum.
The scheme reportedly involved the use of 92 fictitious companies, which were not registered with the Corporate Affairs Commission (CAC), to divert public funds.
Yusuf allegedly acted as a front for Jibrin, facilitating suspicious financial transactions that led to the acquisition of high-value properties.
Intelligence reports suggest that some of the stolen funds were used to purchase real estate abroad, including properties in Dubai, through proxies.
The legal dispute over the illegally acquired properties dates back to 2019, when a Federal High Court issued an interim forfeiture order on assets linked to Jibrin and Yusuf.
However, in July 2022, the court vacated the order, ruling that the ICPC had failed to provide sufficient evidence. The commission appealed the ruling, arguing that it was unreasonable and unsupported by available evidence.
ICPC’s investigation has traced the diverted funds to companies such as Lahab Integrated and Gate Coast Properties, which were used to acquire at least 18 properties.
Four of these properties have been forfeited to the federal government, while legal proceedings over the remaining assets continue.
The ICPC is also intensifying efforts to arrest other suspects who are still at large.
Jibrin, who served as the 21st Chief of Naval Staff from 2014 to 2015, has faced multiple corruption allegations since leaving office:
In 2024, the Federal High Court issued an arrest warrant for him in connection with a new ₦1.5 billion money laundering case filed by the ICPC.
He was previously linked to another ₦600 million money laundering case.
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