Skip to main content

13 Nigerian Security Chiefs, Others Stole Over N152billion, Stash Loot In UAE.

By

The Human and Environmental Development Agenda has said assets and funds worth more than $400m (about N152 billion) stolen from Nigeria were stashed in the United Arab Emirates.

The leading anti-graft group explained that out of the 800 assets uncovered by investigators, 216 assets were linked to 13 top security officials, while the remaining 584 have been traced to public officials.

Olanrewaju Suraju, HEDA’s chairman, disclosed this on Tuesday at the public presentation of a report titled, ‘Fixing Illicit Financial Flows: A Critical Review of UK and UAE Policies, Laws and Practices in Financial and Non-Financial Institutions.’

He explained that the report was borne out of the need to review some of what they considered as loopholes in the laws and policies governing the financial and the non-financial system in the UK and the UAE and especially the concern over the rate at which illicit property and funds flowed from Nigeria to the UK and UAE.

Olarenwaju noted that several recent reports showed that between 2004 and 2013, Nigeria lost about $178 billion in illicit financial flow, saying it means the country is losing $17.8 billion annually to illicit financial flow.

“Of the 800 Nigerian stolen illicit assets lodged in UAE, 13 security officials own 216 of them while 584 of the remaining assets are owned by Nigerian public officials.

“So, the illicit financial flow does not just disappear; it goes to certain jurisdictions and the point is that UAE and UK are being shown to have a huge percentage of these funds. It is only natural that we review what is responsible, not just that we have politically exposed persons, even law enforcement officials are attracted to these jurisdictions.

“It is also something clear that the system there permits the flow of the illicit funds. We’ve painstakingly over the period of two years reviewed these laws and policies to see how it is possible for just 13 law enforcement officers in Nigeria to have about 216 property in the UAE,” he said.

Speaking at the summit, the Deputy Country Director, Open Society Initiative for West Africa, Dayo Olaide said while transparent elections remained a momentous step towards probity and good governance, it was disturbing that public enthusiasm towards election was fading.


Labels:

Comments

  1. AyiranorApril 2, 2021 at 2:16 AM

    What a shame. UK and UAE collude with Nigerian government to loot security funds.

    ReplyDelete

Post a Comment

Popular posts from this blog

Biden Announces Purchase Of 200M Vaccine Doses

By
  President Joe Biden announced a series of measures on Tuesday aimed at ramping up coronavirus vaccine allocation and distribution, including the purchase of 200 million more vaccine doses and increased distribution to states by millions of doses next week. With those additional doses, Biden said there would be enough to fully vaccinate 300 million Americans -- nearly the entire US population -- by the end of summer or early fall. He described efforts to combat Covid-19 as a "wartime undertaking." We now have a national strategy to beat Covid-19. It's comprehensive. It's based on science, not politics. It's based on truth, not denial, and it is detailed," he said. As part of the new efforts announced Tuesday, the US will buy 100 million more doses from Pfizer/BioNTech and 100 million more from Moderna -- the two-dose vaccines that have been granted emergency use authorization by the US Food and Drug Administration. Pfizer and Moderna are working to step up p...
Post a Comment
Read more

How Soldiers Police Fled Abandoning Delta Community Residents During Bloody Robbery Incident

By
There was pandemonium in Issele-Uku branch, headquarters of Aniocha North Local Government Area of Delta state on Tuesday as some armed robbers attacked a branch of United Bank for Africa (UBA) in the town. A eyewitness said the robbers gained entrance into the bank after using explosives suspected to be dynamite to blast the bullet-proof door.  According to the eyewitness, the robbers spent over one hour on the operation. He disclosed that no fewer than four persons were killed in the robbery attack. The eyewitness said security operatives around the area refused to show up until the robbers had left. “This attack is a reoccurring one in the community. Yesterday, they robbed for an hour and the police didn't show up, neither did the army nor the community vigilantes until they left, that was when they showed up as usual. “I counted about four bodies, the police station is about a minute drive from the scene of the robbery, while the NYSC (National Youth Service Corps) orientation ...
1 comment
Read more

Police Panel Submits ‘Damning Report’ On Disgraced DCP, Abba Kyari

By
The  Special Investigation Panel set up by the Inspector-General of Police, Usman Baba, to probe the former Head, Intelligence Response Team, Abba Kyari, a suspended Deputy Commissioner of Police, has submitted its report. The four-man panel headed by the Deputy Inspector-General of Police in charge of the Force Criminal Investigations Department, Joseph Egbunike, submitted its findings to the IG on Monday. Information from a reliable source states that the panel submitted ‘damning findings’ in its report, although the DCP continued to prove innocence in the face of the accusations.  The source had yet to reveal further details of the report. The United States Attorney’s Office, Central District of California, had issued an arrest warrant against Kyari for his alleged links to the suspected fraudster, Ramon Olorunwa Abbas, alias Hushpuppi, who is standing trial for various offences that include internet fraud and money laundering. Hushpuppi has since pleaded guilty to the char...
1 comment
Read more