Atiku’s Man In Trouble Over Alleged Money Laundering

Hamilton Nwosa
Writer

Ad

Saudi Arabia’s Spending Spree Meets Oil Price Reality

Saudi Arabia’s grand Vision 2030 ambitions may be colliding with a colder fiscal reality. Fitch Ratings warned Friday that Riyadh faces rising financial risks as oil prices soften and government spending balloons, threatening the kingdom’s plans for fiscal consolidation. The numbers tell the story: Saudi Arabia now expects a budget deficit equal to 5.3% of…

oil

Kidnapped Abuja doctor found dead, kidnappers hold on to three children

A renowned veterinary doctor and former chairman of the Nigerian Veterinary Medical Association (NVMA) FCT chapter, Dr. Ifeanyi Ogbu, has been murdered in the Federal Capital Territory, Abuja. According to reports, armed men stormed his residence in Kubwa, Abuja, and abducted him along with his three children. While the nursing wife and other family members…

Jonathan Clears Air, Says No Accusations of Boko Haram Ties Against Buhari

By Abiola Olawale Former Nigerian President Goodluck Jonathan has denied accusing his successor, the late former President Muhammadu Buhari, of having any links to the Boko Haram insurgency. The clarification comes hot on the heels of a heated exchange that has reignited debates over Nigeria's protracted fight against terrorism. Jonathan's statement, issued through his Special…

Ad

The Economic and Financial Crime Commission (EFCC) is reported to have arrested an associate of the Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar, over  of $4 million.

The money is termed “suspicious election cash”, the Nation said.

The arrest followed an intelligence report on a suspicious transaction by a Bureau De Change (BDC) operator.

The Nation had exclusively reported how the PDP reportedly allocated $3million each for “logistics” to its 36 state branches and the Federal Capital Territory (FCT).

Most Bureau De Change operators and banks have, however, refused the “pressure” to convert the hard currency to Naira.

“A BDC operator was intercepted for shipping $2million from Abuja to Lagos for suspected money laundering,’’ Sources in EFCC is reported to have said.

The source said the BDC operator admitted that the suspect paid the Naira equivalent of $4 million into his account in exchange for hard currency.

“We invited the suspect for interrogation on Monday and Tuesday. Our detectives have also conducted a search of his home. Some useful documents were retrieved. Investigation is, however, still in progress.”

“Apart from documents relating to posh properties at home and abroad, a copy of the EFCC Investigation Report on Atiku’s relationship with a jailed U.S. lawmaker, Williams Jefferson, was retrieved.’’

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp