FG Investigating $15bn Defence Contracts Awarded By Jonathan – Osinbajo

Acting-President, Yemi Osinbajo has disclosed that the federal government through the Economic and Financial Crimes Commission (EFCC) is currently investigating a fresh $15 billion worth of defense contracts awarded by the previous administration.

 He said this on Tuesday while explaining to Niger-Delta stakeholders how corruption contributed to the current economic hardship in the country.

 Osinbajo said that with the disappearance of $15 billion from the country’s foreign reserves of about $30 bullion, there was no way the country would not face economic hardships.

 He however expressed optimism that with prudent management of resources and the federal government’s approach to governance and anti-graft war, the economy of the nation will be improved in the coming months.

 The Acting-President said: “You know, it is easy for people to say “Oh! Times are hard!” Yes, times are hard. And the reason why times are hard, we have said repeatedly.

 “One of the reasons, of course, is the corruption that took place for so many years. We are investigating, at the moment, $15 billion of defense contracts that were given. If $15 billion disappears, when you have a reserve of $30 billion, there is no way there will not be problems.

 “But we are sure that because of the way that we have approached the business of governance, and despite the hardship, we have prudently managed our resources. I trust the God almighty that in the next few months, things will shape-up, this country will be improved, and we will be able to do better.”