There are indications that there is a planned trip to Dubai, the capital of United Arab Emirate by the
Attorney General of the Federation (AGF) and Minister of Justice, Mr.
Abubakar Malami, and Chairman of the Economic and Financial Crimes
Commission (EFCC) Mr. Ibrahim Magu to recover over $200b looted funds as
well as mansions built by some former serving public servants in
Nigeria including governors, ministers among other high net worth
individuals.
Informed sources at EFCC confirmed, that those being
investigated for complicity in the alleged sleaze are seven
ex-governors, about six former Ministers, a fleeing Presidential aide
implicated in the $2.1billion arms deals, ex-military chiefs under
probe, agents/fronts of some of these public officers and a about five
chieftains of the Peoples Democratic Party (PDP) who have either stashed
away funds in Dubai or acquired properties.
A Federal Government team
being led by Malami and Magu are perfecting plans to see their UAE
counterparts to ensure thorough investigation. While the EFCC officials arrived in Dubai on Saturday, the Minister hurriedly left Abuja on Monday morning to join the team.A source in the government last night said: “Yes, the AGF and the
EFCC chairman with some top officials of the anti-graft agency are in
Dubai for a follow up technical session on the Mutual Legal Assistance
between Nigeria and the UAE. “I can confirm the official trip and it is
meant to recover looted funds.”
The Chairman of the Senate Committee on Foreign and Domestic Debts,
Senator Shehu Sani said over $200 billion had been hidden in UAE. He said: “Over $200 billion are stashed away from Nigeria to Dubai alone. This may include monies stolen since the past 20 years. I am not
talking about estates and bonds and other securities bought with
Nigerian stolen money.”
A highly placed source at EFCC, who would not be named, said: “The FG
team has met with those from the UAE on intelligence sharing, the list
of those on EFCC radar, the number of highly-placed Nigerians with fat
accounts in UAE and those with choice properties in Marina (Dubai), Bur
Dubai, Abu Dhabi and Doha.
“Some of the former governors include one from the South-South, two
from North-Central, two from the North-East, one from the North-West,
and one from the South-West.
“A former-governor had made botched attempts to transfer about
$517million loot to Dominican Republic because UAE law is now strict. “More than six ex-Ministers and a former presidential aide, who is on
the run over $2.1billion arms deals, were said to have acquired choice
mansions and malls in UAE. One of the former Ministers, who was alleged
to own two houses in Dubai, was said to have served as a front for a
former First Lady.
“Another ex-Minister had bought some malls through a few cronies in Dubai. The list of such agents is presently being screened.
It is still unclear if those found culpable will be prosecuted in Nigeria or in UAE where they are taking shelter.
The anti-money laundering policy of UAE Central Bank reads in part:
“Any person who commits, or attempts to commit, a Money Laundering
offence shall be punished by imprisonment of up to 10 years and or a
fine of between AED 100,000 and AED 500,000.
“In cases of multiple perpetrators, the Court subject to its
discretion, may exempt a perpetrator from the imprisonment penalty if he
takes the initiative and reports the crime to the competent authorities
prior to the knowledge of such authorities and if his actions lead to
the arrest of the other perpetrators or seizure of the laundered money.
“Any establishment that commits an offence of money laundering,
financing of terrorism or financing of any unlawful organisations, shall
be punished by a fine of AED 300,000 and AED 1,000,000. “Failure to report a suspicious transaction shall be punishable by
imprisonment and /or a fine of between AED 50,000 and AED 300,000.
“Tipping off a person being investigated regarding a suspicious
transaction shall be punishable by imprisonment of up to one year and/
or a fine of between AED10,000 and AED 100,000. “Violation of the requirements of Airport Declarations shall be punishable by imprisonment and or a fine.”
The delegation went to UAE in line with the agreement with the Federal Government. President Muhammadu Buhari in January had signed a “Judicial
Agreement on Extradition, Transfer of Sentenced Persons, Mutual Legal
Assistance on Criminal Matters, and Mutual Legal Assistance on Criminal
and Commercial Matters, which includes the recovery and repatriation of
stolen wealth.”
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