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 repo...
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