EFCC chair, minister off to retrieve cash
All seems set for the repatriation of over $200billion
stashed away by some former governors, ex-ministers
and other public officers in the United Arab Emirates
(UAE), The Nation learnt yesterday.
Some mansions belonging to some former Politically
Exposed Persons (PEPs) and their cronies or fronts
may also be seized, a source said.
Under the searchlight for stashing away cash or
acquiring properties in the UAE are seven former
governors, 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 five chieftains of the
Peoples Democratic Party(PDP).
A Federal Government team, comprising the Minister
of Justice and Attorney-General of the Federation,
Mr. Abubakar Malami, the Chairman of the Economic
and Financial Crimes Commission(EFCC), Mr. Ibrahim
Magu and crack detectives from the anti-graft
agency, yesterday started comparing collated
intelligence notes on the PEPs with their UAE
counterparts.
The EFCC officials arrived in Dubai on Saturday. The
Minister left Abuja yesterday to join the team.
It was learnt that the AGF had barely returned from
an official assignment when an urgent travel
arrangement was made for him.
The delegation went to UAE in line with an
agreement with the Federal Government.
President Muhammadu Buhari in January 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”.
Seven former governors, six former ministers and 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 about five
chieftains of the Peoples Democratic Party(PDP) have
either stashed away funds in Dubai or acquired
properties.
A top source, who spoke in confidence, said: “The
Federal Government 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 Northcentral, two from the
Northeast, one from the Northwest, and one from the
Southwest.
“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 the $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
being screened.
“Certainly, the anti-graft agency has tightened the
noose on these former public officers and there is no
hiding place for them.
“The success of the collaboration between the Federal
Government team and the UAE Government will
determine when EFCC will release the concessions on
some of these PEPs. Very soon, we will unveil these
ex-political office holders.”
According to sources, the government delegation
discovered that many highly-placed Nigerians,
including a few ex-governors and money laundering
fronts, have fled from Dubai to Singapore, Casablanca
in Morocco, Dominican Republic and some islands in
the UK and in the Caribbean.
Another source said: “From the trip so far, many big
Nigerians have already ran away from Dubai to escape
being arrested by the UAE authorities.”
“Some of the ex-governors have also avoided visiting
UAE until the coast is clear. They do not want to
experience the same fate like ex-Governor James
Ibori.
“The frequency at which highly-placed Nigerians fly
to Dubai for parties has considerably reduced because
they are under watch by the UAE authorities.
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 is stashed away from
Nigeria in Dubai alone. This may be monies stolen in
the past 20 years. I am not talking about estates and
bonds and other securities bought with Nigeria stolen
money.”
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 Nation
0 comments:
Post a Comment