EFCC begin probe on Oduah's N255 million scandal, Coscharis boss quizzed

The Economic and Financial crimes commission (EFCC), Last Monday, Quizzed Coscharis boss, Cosmas Maduka over his involvement in the N255 million fraudulent purchase of 2 BMW cars for Aviation minister, Stella Oduah by the NCAA.

Maduka was grilled for hours at the HQ of the EFCC in Wuse 11, Abuja before being released.

On Friday, officials of First Bank Limited, the financier of the contract, will also be interrogated in relation to the contract.First Bank’s role in the transaction has remained controversial with the bank and the ministry of aviation making contradicting claims.
While the bank said it provided N643 million loan to the NCAA to make the purchase, the NCAA said the arrangement was “lease financing”, while Mrs. Oduah said Thursday the credit was obtained as a “mere understanding and not obligation.”

The scandal has smeared several government agencies including the ministry of finance, which allegedly granted import duty waiver for the purchase, the Lagos State government which applied for the waiver, in exchange for a sponsorship deal with Coscharis.