IBB seeks N500 Billion Defence Contract
Former Military President, Ibrahim Babangida, who is making another bid for the presidency, is seeking a whooping N500 Billion defence contract to bolster his financial fortunes ahead of the 2011 Presidential elections, Pointblanknews.com can report authoritatively.
IBB, as he popularly referred to, is being ably assisted in securing the lucrative deal by the Secretary to the Government of the Federation, Mr. Yayale Ahmed and Minister for Defence, Adetokunboh Kayode.
According to documents exclusively obtained by Pointblanknews.com, the former Military ruler and Yayale, according to highly placed defence sources are major defence contractors in the country. They are the only suppliers of Military hardware to the Ministry of Defence. Yayale was a former Defence Minister under President Musa Yar'Adua.
With the ownership of Suncraft and Doyatechcom Companies, they are working in consonance with the Minister of Defence, Adetokunbo Kayode, Chief of Army Staff, Leutenant General Abdulrahman Danbazau.
Doyatechcom is a conglomerate of seven or eight companies. Yayale heads it and his point man, Amitsade, has dual nationality-German and Israeli while Suncraft belongs to former President Ibrahim Babangida whose point man is Sami Haider. The set up is akin to Doyatechcom.
They are currently seeking a N500 Billion defence contract for the procurement of military hardware for the Nigerian Army and Nigerian Navy
Having served as Defence Minister under Musa Yar'Adua, Yayale, has allegedly vowed to work against President Goodluck Jonathan for his refusal to nominate him as Vice President and indeed work for former military ruler, Ibrahim Babangida.
He is working on this deal in concert with the Minister of Defence, Adetokunbo Kayode, Chief of Army Staff, General Abdulrahman Danbazau, Chief of Naval Staff, Vice Admiral I.I. Ibrahim.
The two defence chiefs allegedly met in a secret location in Nigeria with the former military ruler, where they were called upon to assist the former junta leader in his presidential bid by awarding contracts to Suncraft and including part of it in the 2010 budget as well as the Supplementary budget. They were also asked to expedite action on the matter as time was running out and promised future roles in an IBB presidency.
They were also reminded of the former military leader's contribution to their career progression in the military.
In line with the arrangement, the Chief of Army Staff, Abdulrahman Danbazau, had in a letter dated June 30, 2010 addressed to the Minister of Defence, Adetokunbo Kayode, requested funds for the purchase of “Nigerian Army Urgent Requirements”.
The letter signed by Major General A. A. Atofarati, on behalf of the Chief of Army Staff, sought the release of the sum of N220,892,453,475.55 for the purchase of 19 items including
"Ammunition of Various Types" valued at N16,440,262,200.00; Arms (GPMG and BMG) at the cost of N8,680,000,000.00.
Other items include armored personnel carriers (COBRA) at the cost of N97,379,970,625.00; Armored Fighting Vehicles (AFV) at the cost of N6,665,000,000.00 among others.
In a similar letter written to the minister by the Chief of Naval Staff, I.I. Ibrahim on May 17, 2010, entitled “Immediate Requirements for Enhanced Operational Efficiency of the Nigerian Navy” the Naval boss sought the purchase of military hardware which value was put at 442 million Euros.
The items include 2x85 meter offshore patrol vessels at 90 million Euros each. Both vessels are currently available in Turkey and Portugal.
The other items include 1x light frigate at 65 million Euros. The frigate is currently available in Spain. The naval chief is also seeking 76 million Euros for the purchase of 2x 38 meter fast patrol votes at 38 million Euros each among other items.
See attached documents below