*EFCC chair, minister off to retrieve cash
All seems set for the
repatriation of over US$200billion stashed away by some former governors,
ex-ministers and other public officers in the United Arab Emirates (UAE).
The
Nation report continues:
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 US$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 US$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 US$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 US$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 US$200 billion had been hidden in UAE.
He
said: “Over US$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.”
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