Cosmas Maduka’s Coscharis Motors Fails To Provide EFCC With Documents Of purchase In Aviation Minister, Stella Oduah’s N255m Luxury Cars Acquisition Scandal

The management of Coscharis Motors Limited, with Mr Cosmas Maduka as Chairman are finding it hard to provide documents to buttress the stance of ‘no wrong doing’ in the purchase of two armoured luxury cars for the personal use of aviation minister at allegedly highly inflated price.

The Coscharis team, along with representatives of financial institution that funded the outrageous acquisition threatening the job of Minister Oduah are currently being investigated by anti corruption agency, Economics and Financial Crimes Commission ( E.F.C.C )

Here is a more detailed version of the development source by societynowng.com

‘Five days after a promise to provide information on how Coscharis, which supplied the two armoured cars now at the center of a major scam in the aviation sector, paid BMW for the vehicles, the company’s management has disappeared from the radar of the Economic and Financial Crimes Commission (EFCC).

The agency’s investigators last week grilled Josiah Samuels, the Managing Director of Coscharis Motors Limited, and he reportedly confessed that he was unsure how to find the information relating to payments made the BMW Group in Germany.

‘The vehicles were manufactured as part of BMW high security vehicles, and assembled at the BMW Plant Dingolfing, Germany. A source at the plant told SaharaReporters that the cost of a brand newB7 level security BMW 760 Li HSS is between 170,000-190,000 Euros at factory price.

However, Coscharis Motors ‘sold’ the vehicles to the Nigeria Civil Aviation Authority for a gargantuan $800,000 apiece.

That highly inflated price of the vehicle was the principal subject of the EFCC interrogation of Coscharis officials last week. They were grilled over two days and told to return with full details of how Coscharis ended up paying 418,000 Euros for each of the vehicles but officials at the agency said Coscharis MD and officials have refused to provide the bank statements of their wire transfers showing the amount paid to BMW for the vehicles’

saharareporters