These are not the best of times for Chief Olu Falae, Chairman of Social Democratic Party (SDP). The 78-years-old former Minister of Finance is now begging President Buhari led government to have mercy on him. Insiders squealed to us that the elderstatesman was a guest of the Economic and Financial Crimes Commission (EFCC) recently where he was confronted with concrete facts of how N100 million was paid into his UBA account called Marecco Nigeria Ltd. with account number 1000627022 from the Dasukigate arms deal money.

The EFCC operatives also showed the former Secretary to the Federal Government how he disbursed N60 million to his SDP members and kept N40million to himself. We gathered that when he saw the documents of the transaction he confessed that he actually pocketed the N40million and he begged the EFCC operatives not to detain him because of his old age and health condition.

Our sources added that he was asked to produce the N40million and he promised to go and look for the money. We were told that the elderly man was in the state of huggermugger throughout his grilling by the EFCC operatives. Those in the know disclosed to us that Chief Olu Falae has been making contacts with the presidency to give him a soft landing because of his service to the nation over the years.