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Sunday, March 06, 2016

GHEN! GHEN!! Powerful Ex-Governor Under Watch In Dubai Over $517m Loot


*Fear as Abu Dhabi places accounts of Nigerian Big Men on Surveillance
The authorities in the United Arab Emirates (UAE) are keeping intense watch over a former Nigerian governor who is believed to have stashed a $517million loot in the Middle East country.

The action of the UAE has helped in thwarting a recent move by the suspect (a big ex-governor) to move the looted funds to the Dominican Republic to hide it from Nigeria's EFCC.

Also under security watch in the UAE are the accounts and other transactions of 
some Nigerian VIPs who have turned the country into a safety net for their loots, The Nation reports.

Chairman of the Senate Committee on Foreign and Domestic Debts, Mallam Shehu Sani said that 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.

Nigerian and UAE agencies are collaborating in monitoring the activities of many Nigerians, especially those categorized as “Politically Exposed Persons (PEPs), investigations have revealed.

A major dividend of the collaboration is intelligence report on the former governor, who is suspected to have stashed $517million in UAE.

A source familiar with the development said the former governor is “under the watch-list of the UAE and the Economic and Financial Crimes Commission (EFCC).”

“He (former governor) has been worried in the last few weeks but the law will catch up with him.

“The ex-governor made botched attempts to transfer about $517million loot to the Dominican Republic because UAE law is now strict. The affected ex-governor is lying low and avoiding that country in order not to suffer the James Ibori fate.”

On the accounts of some Nigerian VIPs said to be also under surveillance in the UAE, a security source said: “following the recent signing of the Mutual Legal Assistance Agreement between the two countries, the accounts, transactions and investments of some Nigerians have been under surveillance.

“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.”

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 with the UAE. That agreement is now leading to a lot of discoveries.

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