The Economic and Financial Crimes Commission (EFCC)   yesterday quizzed the Managing Director of Stallion Group , Harprrie Singh over alleged N1.275billion gift to former  Minister of State for Finance  Bashir Yuguda.

The MD  has said his firm had a $170million contract with the Office of the National Security Adviser( ONSA) to supply some vehicles.

The EFCC was acting on clues bordering on the fact that the N1.275billion gift was at the instance of ONSA for political purposes.

According to a top source in the anti-graft agency, Singh was invited as part of the ongoing probe of some companies used for slush funds for the 2015 general election.

It was learnt that although  the MD came to the EFCC on Wednesday, he merely underwent profiling.

It was unclear if he would be released on administrative bail or detained overnight.

But EFCC confirmed that the MD of Stallion Group has made substantial revelations.

The source said: “We invited Singh to assist our investigators based on findings by our team.

”Stallion’s name cropped up when investigators scrutinizing transactions carried out by the former NSA with Jabbama Company, a bureau de change operator, stumbled on evidence that Stallion Group also paid N1.375billion to the company though N100million of the money was later returned, leaving a balance of N1.275billion.

“Investigation further revealed that Jabbama converted the money into United States Dollars ($114,750,000) and handed it to Ambassador Bashir Yuguda, former Minister of State for Finance who is already being prosecuted on multiple charges of fraud and money laundering.

“Yuguda was said to have explained to EFCC interrogators that, the N1.175billion received from the Stallion Group was at the instance of former NSA, Dasuki, for political purposes.”

Responding to a question, the EFCC source said Singh had made substantial revelations on the ongoing probe.

The highly-placed source added: “In the statement that he volunteered to interrogators, Singh Claims his company has a $170million contract with the ONSA to supply some vehicles and that, he had already supplied the first batch of Fifty vehicles since November 2014 for which he was yet to be paid.

“Additionally, he confessed that the money he gave to Yuguda was at the request of both Dasuki and Yuguda, to support their party.

“Detectives at the EFCC are left wondering why a corporate organisation will, instead of making donation to any political cause through the relevant political parties, route the fund through the NSA.

“They are also wondering whether the money was an inducement for a contract awarded to the company by the NSA.

In his Statement of Witness to EFCC, Yuguda, who admitted that he liaised with Stallion Limited, gave the details of other disbursements.

He added: “I knew the chairman of Stallion Limited whose second name I cannot remember. Between December 2014 to June 2015, on the instruction of the then NSA, I introduced Jabbama Limited to a staff of the company on the instruction of the chairman.

“When the account was in credit, disbursement was made from time to time on the instruction of the then NSA. Part in foreign exchange or transfers.

“I wish to add that sometime in February 2015, I instructed Jabbama to transfer the sum of N300m to BAM Properties. The account was given to me by Bello Haliru as one of the people the former NSA requested me to give money. I also remember that Mahmud Aliyu Shinkafi was sent the sum of N100million on the instruction of the then NSA.”