President Buhari has signed an extradition treaty with the
United Arab Emirates yesterday August 24th, former Minister of Petroleum
Resources, Diezani Alison-Madueke, seven former governors and 14 other
corrupt government officials and businessmen,
are reportedly going to
lose their assets and investment hidden in Dubai, the UAE capital.
The Nation reports that all the 22 former political leaders and
businessmen are being investigated by the Economic and Financial Crimes
Commission (EFCC).
Under investigation are seven former governors, seven ex-ministers,
four businessmen, a former PDP chieftain, a former Comptroller-General
of the Nigerian Customs Service, a former presidential assistant
indicted in the $2.1billion arms deals and a former First Lady who
allegedly used fronts to acquire properties illegally in Dubai.
Two of the assets have been traced to former Minister of Petroleum
Resources, Diezani Alison-Madueke, who was implicated by the United
States Department of Justice as a beneficiary of a $1.5billion laundered
cash. Also under investigation are about five luxury properties
allegedly linked with a former chairman of the defunct Oceanic Bank.
After a state visit to the UAE by President Muhammadu Buhari on
January 19th last year, the Federal Government signed six agreements
with the Emirates. Some aspects of the understanding border on Judicial
Agreements on Extradition, Transfer of Sentenced Persons, Mutual Legal
Assistance on Criminal Matters, and Mutual Legal Assistance on Criminal
and Commercial Matters (the recovery and repatriation of stolen wealth).
A government source who spoke on condition of anonymity, said: “With
the signing of the agreements, a major hurdle has been cleared and this
will enable us to proceed with the application for the seizure of the
assets of more than 22 highly-placed Nigerians who have been under
probe for alleged money laundering.
Before the pact, the UAE law
mandates any foreign anti-graft agency to seek the consent of the owner
of any property being verified before you can have access to same. But
now, the anti-graft agencies in Nigeria can send a list of suspected
assets to the UAE authorities through the Ministry of Justice and the
Ministry of Foreign Affairs and the Mutual Legal Assistance will be
invoked. Our task is made easier because the Land Registry System is
digitalised in a manner that it will not take five minutes to obtain
information on anyone suspected of money laundering. The onus is on us
to present sufficient facts on why some of these assets should be
seized. We will show evidence of corrupt practices, the laundering of
public funds and the purchase of the suspected assets with looted
funds.”
Responding to a question, the source added: “The EFCC has secured
Mareva Injunction to freeze some foreign accounts and seize some assets
linked with some of these highly placed Nigerians in some
jurisdictions.”
Some of the off-shore financial institutions, where accounts are
frozen, include BNP Paribas (Switzerland), LGT Bank (Switzerland),
Standard Chartered Bank (London),Barclays Bank (London), Standard Energy
(Voduz, Switzerland), HSBC (London), Corner Bank (Lugano, Switzerland)
and Deutsche Bank (Geneva).
According to the source, “with the indictment of a former Minister of
Petroleum Resources, Mrs. Diezani Alison-Madueke, by the US Department
of Justice and her two alleged business associates, seizing their assets
will be easier”.
Besides, the conviction of a former Oceanic Bank official by a court in Nigeria was enough to seize any assets linked to her.
“We are set to go with the seizure of eight apartments. But out of
the eight identified, two apartments linked with Diezani are marked as
J5 Emirates Hills (30million Dirham) and E146 Emirates Hills valued at
44million Dirham,” the source said.
The former governors, include one from the Southsouth, two from
Northcentral, two from the Northeast, one from the Northwest, and one
from the Southwest.
“We also have the case of a former-governor who failed in his bid
to transfer about $517million loot to Dominican Republic from the UAE.
We will want to seize the cash,” the official said.
Sections 7 of 28 and 34 of the EFCC (Establishment Act) 2004 and
Section 13(1) of the Federal High Court Act, 2004 mandate the agency to
seize suspicious assets.
Section 7 says: “The commission has power to (a) cause any
investigations to be conducted as to whether any person, corporate body
or organisation has committed any offence under this Act or other law
relating to economic and financial crimes.
“(b) Cause investigations to be conducted into the properties of any
person if it appears to the commission that the person’s lifestyle and
extent of the properties are not justified by his source of income.”
Sections 28 and 34 of the EFCC (Establishment Act) 2004 and Section
13(1) of the Federal High Court Act, 2004 empower the anti-graft agency
to invoke Interim Assets Forfeiture Clause.
“Section 28 of the EFCC Act reads: ‘Where a person is arrested for an
offence under this Act, the Commission shall immediately trace and
attach all the assets and properties of the person acquired as a result
of such economic or financial crime and shall thereafter cause to be
obtained an interim attachment order from the Court.’
Section 13 of the Federal High Court Act reads in part: “The Court
may grant an injunction or appoint a receiver by an interlocutory order
in all cases in which it appears to the Court to be just or convenient
so to do.
(2) Any such order may be made either unconditionally or on such terms and conditions as the Court thinks just.”
The Chairman of the Senate Committee on Foreign and Domestic Debts,
Senator Shehu Sani had previously disclosed that over $200 billion had
been hidden in UAE.
“Over $200 billion is stashed away from Nigeria to Dubai alone. This
may be the monies stolen since 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:
“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 organizations, 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.”
No comments:
Post a comment