UAE blocks $517m transfer by ex-Nigerian governor

UAE blocks $517m transfer by ex-Nigerian governor

Tuesday, March 22, 2016 9:09 am

EFCC boss Magu with UAE ambassador, Mahmud Muhammad Al- Mahmud

EFCC boss Magu with UAE ambassador, Mahmud Muhammad Al- Mahmud

An attempt by  a yet to be identified former Nigerian governor to transfer $517million out of United Arab Emirates to Dominican Republic has been blocked by the authorities.

A report today said  the former governor hit a brickwall because UAE money laundering laws are now strict.

Nigeria 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”, in the course of President Muhammadu Buhari’s visit last January.

In the spirit of the agreement, the Nigerian government has beamed a searchlight on banking vaults and properties where Nigerian officials had kept or invested their loot.

According to TheNation 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, are in Dubai and have started comparing collated intelligence notes on the PEPs with their UAE counterparts.

The EFCC officials arrived in Dubai on Saturday, said the newspaper. The Minister left Abuja yesterday to join the team.

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.

“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.

Read more: 7 ex-governors’ loot


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  • Idowu Folasade Adetunji says:

    Hmmm…$517m? I will take it as a joke until a face is put to all these ex-… and ex- that. Who are these people?

  • Stella says:

    In case you don’t know, a calling App called Ringoversea is now so cheap to call Nigeria and other African Countries. Hope this helps?

  • #BringBackOurGirls says:

    That is N103,400,000,000 if converted to naira using the official rate.

  • Tafida Gadzama says:

    Carry on Mr President. There is no hiding place for thieves and that is why they are complaining about PMB’s regime. Heartless idiots!

  • marc umeh says:

    More than the amount of money involved ,should be how on earth is
    it possible for ANYBODY , no matter his/her position able to transfer this kind of money out of the country?
    Who and who are involved in that transfer. How can our accounting body— the Nigerian institute of chattered Accountants defend the complicity of their members in this type of crime. Are the books not audited ? What is the role of CBN in all these fraud.
    This is what our journalists should be chasing not the aftermath of investigations or actions initiated by other countries.( who feels sorry for the ineptitude of the blackman).

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