Ex-Minister of State for Defence, Senator Musiliu Obanikoro, has vowed to return N480m to Economic and Financial Crime Commission (EFCC).
Information learnt that he signed an undertaking to return N480m to the Federal Government.
Obanikoro has also submitted his United States of America and Nigerian passports to the Economic and Financial Crimes Commission.
The former PDP Lagos State governorship aspirant 2015 has also provided two sureties who are directors in the Federal Civil Service.
These were part of the conditions given to the ex-minister for his release.
A reliable source said, “The EFCC asked Obanikoro to submit his passports. He was only willing to drop his Nigerian passport but he has finally submitted the American one. He was asked to produce two directors, who must also present a three-month salary pay slip.
“He has returned N100m and has pledged to return N480m. The actual balance is meant to be N685m, but he was able to provide receipts for some transactions. He paid N85m to someone and that person has been traced.
“He also bought some bulletproof vehicles when he was minister and they will be handed over to the EFCC. The cost of the vehicles will be deducted from the amount that should be returned. Having met the conditions, he should be released any time from now.”