The allegedly diverted sum is from a laundered N20 billion earmarked by UBEC for school supplies.
The Economic and Financial Crimes Commission (EFCC) has seized five houses from contractor, Prof. Adenekan Adesanya, who's under suspicion for diverting about N8 billion from a Universal Basic Education Commission (UBEC) project.
According to a report by The Nation, the sum was earmarked for the purchase of science, technical and laboratory equipment to 104 Unity Schools.
The allegedly diverted sum is from a laundered N20 billion earmarked by the commission for the supply of textbooks, science and technical equipment to schools.
Prof. Adesanya, the Managing Director of Macmillan, allegedly paid N5 billion to certain individuals and used part of the remaining N3 billion to acquire the seized properties for himself.
The five properties seized from him by the EFCC 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.
The anti-graft agency is also investigating eight firms that have been linked to him, with their accounts frozen until the conclusion of the probe.
The eight firms are: Aristocrat Specialities Limited; Bromley Technology Limited; Bromley Laboratory Equipment Limited; Calendar Investment Limited; Adeyinka Ventures Limited; Taisol Global Limited; L'enfant Enterprises Limited and Melrose Publishing Company Limited.
N100 billion allegedly diverted
According to The Nation, a source reported that a petitioner had raised alarm over the misappropriation of about N100 billion worth of UBEC contracts which was laundered through the diversion of contract sums, non-execution of contracts and misappropriation of funds.
The source said, "The EFCC received a petition bordering on alleged reckless award of contracts in UBEC to launder public funds, diversion of contract sums, non-execution of contracts and misappropriation of funds.
"The petitioner alleged that about N100 billion was involved but our detectives have so far traced about N20 billion of the funds disbursed.
"We have confirmed that about N8 billion worth of contracts (out of the preliminary N20 billion being looked into) for the supply of science and technical equipment to 104 Unity Schools (mainly Federal Government Colleges) were not properly executed.
"Most of the contracts awarded to at least seven of these eight companies did not go through the bidding process. There was no evidence of due process.
"In the course of our investigation, we invited the principals of the 104 schools and their store officers to give account of the total quantity of the items supplied. Some schools received about 30% of their equipment, some got 40% and some 50%.
"About three to four schools in the North-East, particularly those sited in Boko Haram insurgency axis, did not receive any science and technical equipment.
"When we discovered that these equipment were not supplied, EFCC investigators decided to track the money paid by UBEC.
"The detectives discovered that about N5billion was paid out to some individuals with a strong suspicion that it might have been diverted and used for 2015 general election.
"The suspect allegedly used substantial part of over N3 billion balance to buy and build these properties. We have sealed off the affected buildings. Also, the accounts of the eight firms have been frozen."
"When we interrogated the contractor, he simply said he was paid for 'services rendered'. He also said he sublet the contracts but he was not able to prove to our team the beneficiaries."
The EFCC has also interrogated a former Executive Secretary of UBEC, Suleiman Dikko, as well as top directors of the commission, including those in charge of Finance and Procurement.