EFCC Seizes 5 Houses From Contractor For Diverting Funds Meant For Public Schools Supplies

The Economic and Financial Crimes Commission (EFCC) has seized five houses from a contractor Prof. Adenekan Iyiola Adesanya for allegedly diverting about N8billion out of over N20billion spent by the Universal Basic Education Commission (UBEC) for the supply of textbooks, science and technical equipment to schools.



According to the reports, the N8billion was meant for the purchase of science, technical and laboratory equipment to 104 Unity Schools. The suspect, who is also the Managing Director of Macmillan, was alleged to have paid out N5billion to some individuals and used part of the balance to buy some properties.

The sealed properties include a duplex at 3A Prince Adesanya, Parkview Estate in Ikoyi; another duplex at Plot 10, Segun Olusemo Crescent, Parkview Ikoyi; and three others in Block B 1-6 Erinko Residential and Industrial Estate, Ijoko in Ogun State housing five firms. Also, eight firms linked with Adenekan are under probe with their accounts frozen in line with the ongoing investigation.

The suspect allegedly used substantial part of over N3billion balance to buy and build these properties. We have sealed off the affected buildings. Also, the accounts of the eight firms have been frozen.