A former
Nigerian governor who is believed to have stashed $517million loot in the
United Arab Emirates (UAE) is under close watch. The Nation reports that the
ex-governor recently attempted to move the looted funds to the Dominican
Republic but it was thwarted by the authorities in the UAE who are keeping
intense watch over him. The Middle East country is also keeping watch over the
accounts and other transactions of some Nigerian VIPs who have used the country
as a safety net for their loots. There is a collaboration between the Nigerian
and UAE security agencies to monitor the activities of many Nigerians,
especially those categorized as “Politically Exposed Persons (PEPs). The
intelligence report on the former governor is one of the dividends of the
collaboration.
The
former governor is “under the watch-list of the UAE and the Economic and
Financial Crimes Commission (EFCC),” a source familiar with the development
said. The source said the former governor tried to transfer the loot because
UAE law is now strict, adding that the law will catch up with him. “The
affected ex-governor is lying low and avoiding that country in order not to
suffer the James Ibori fate,” the source said. According to Mallam Shehu Sani,
the chairman of the Senate committee on Foreign and Domestic Debts, as much as
$200 billion of stolen funds from Nigeria may have been hidden in the UAE by
past public officers and their agents/fronts. He said: “Over $200 billion are
stashed away in Dubai alone. This may be the monies stolen in the last 20 years.
I am not talking about estates and bonds and other securities bought with
Nigeria’s stolen money.” A security source disclosed that the accounts,
transactions and investments of some Nigerians have been under surveillance in
the UAE, following the recent signing of the Mutual Legal Assistance Agreement
between the two countries.
“This is based on the sharing of intelligence
between Nigeria and UAE. In fact, some of those being watched have reduced
their frequent trips to the Emirates. Actually any highly-placed Nigerian
arrested for money laundering in UAE risks a 10 -year imprisonment,” the
security source said. In January, President Muhammadu Buhari signed six
agreements with the UAE to enhance bilateral relations between them. They are;
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 with the UAE.
Culled from Naij.com
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