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| As Buhari, UAE leaders reach deal...Dubai shuts doors to Nigerian looters |
There
was panic among corrupt incumbent and former government officials Tuesday after
news filtered in that President Muhammadu Buhari has signed agreements with the
United Arab Emirate on repatriation of stolen funds and extradition of culpable
officials.
Media report continues:
The Mutual Legal Assistance on Criminal
and Commercial Matters, which will allow the UAE government return monies
hidden or invested in banks and real estates in the country, was among a series
of other bilateral agreements signed by the President’s delegation, which was
in the country for the World Energy Forum.
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President Muhammadu Buhari signs a
range of agreements with the UAE including a mutual legal assistance treaty to
help repatriate looters.
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Other agreements signed with the
government of that country included: Avoidance of Double Taxation Agreement,
Agreement on Trade Promotion and Protection, Judicial Agreements on
Extradition, Transfer of Sentenced Persons.
Reporters learnt that three of these
agreements – the Judicial Agreement on Extradition, Transfer of Sentenced
Persons and Mutual Legal Assistance on Criminal and Commercial Matters – are
particularly giving those who may have hidden their ill-gotten wealth in the
country a lot of worries.
According to multiple security sources,
as the news of the signing of the agreements broke, some ex-officials started
making frantic efforts to either escape from that country or relocate their
slush funds out of the reach of the government.
The UAE has become a Mecca for
Nigeria’s wealthy who are drawn by the expensive high rise properties, glitzy
malls and ritzy hotels in the oil-rich country.
A security source who has been
investigating the pattern of Nigeria’s investment in the country told reporters
that at least US$200 billion allegedly stolen from the country’s treasury by
former government officials is believed to have been stashed in banks and
invested in properties in Dubai and Abu Dhabi, two of UAE’s most prominent
cities.
With the signing of the agreements the
government can now actively demand the repatriation of funds hidden in the
country by convicted former officials as well as demand the extradition of
other Nigerian fugitives residing in the country.
Before now, the UAE was a fortress of
some sort for corrupt government officials escaping justice at home.
In 2010, one of Nigeria’s most notorious
money launderers, James Ibori, the former Governor of Delta State, as the heat
over his money laundering cases in court became unbearable, ran to seek refuge
in Dubai before he was extradited to the United Kingdom, where he was also
wanted for fraud.
On April 17, 2012, Mr. Ibori was
sentenced to 13 years by the Southwark Crown Court in London.
The former chairman of the Pension
Reform Task Team, Abdulrasheed Maina, who is wanted for allegedly stealing ₦2.8
billion, is believed to be hiding in Dubai.
Several illicit transactions done on
his behalf have been traced to the city, investigators said.
Earlier in the month, the Economic and
Financial Crime Commission (EFCC), put out an order for the arrest of the
former Comptroller of the Nigerian Customs Service, Abdullahi Dikko, who is
being investigated for fraud.
According to the EFCC, Mr Dikko is
believed to be hiding in Dubai.
Presidency insiders said Mr. Buhari
considers the agreement with the UAE as a “major joker” in his anti-corruption
war.
“There is abundance intelligence that a
substantial chunk of Nigeria’s stolen wealth is in the Emirate, with a number
of fugitives hiding there,” the source said.
“With this agreement, they can now be
made to face justice, and their loot recovered. The presidency sees this as a
major achievement.
“The process for the agreements had
been on for months but the presidency was able to keep it under wraps so as not
to tip off the criminals.”
Another top government official, who asked not to be
named because of the sensitive nature of the matter, said with the agreement,
Mr. Buhari was now set to share intelligence with the UAE authorities on
Nigerian fugitives hiding there and Nigeria’s ill-gotten wealth stashed there.”
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