Monday, 4 September 2017

Cecilia Ibru, Bala Mohammed, Diezani Alison-Madueke, and 25 others to lose Dubai assets.

The former Minister of Petroleum Resources, Diezani Alison-Madueke, former Managing Director of the ancient Oceanic Bank, Cecilia Ibru, former Minister of the Federal Capital Territory, Bala Mohammed and his child, Shamsudeen are supposedly among those that will lose their Dubai assets. 

This took after the consenting of six arrangements by the United Arab Emirates (UAE) and the Nigerian government.

The Economic and Financial Crimes Commission (EFCC) had followed eight assets to Mrs. Ibru and two to the ex-Petroleum Minister, while profiling of more than 25 Politically Exposed Persons (PEPs) is progressing. 

An EFCC source revealed to The Nation: "Following due determination by the EFCC, the Federal Government has just accumulated a rundown of first batch of suspects with houses in Dubai, whose assets should be joined. 

"The government will soon formally apply to the UAE for the seizure of the assets followed to these Nigerians. 

"The ex-Petroleum Minister has two condos, including the one set apart as J5 Emirates Hills (30 million Dirham) and another labeled E146 Emirates Hills, esteemed at 44million Dirham. 

"The EFCC is additionally profiling more than 25 PEPs in light of the colossal database from the UAE. 

"Some of these assets are in Emirates Hills, Marina, Jumeira, Bur Dubai in Dubai and Abu Dhabi in the UAE. "We are yet to concentrate on plundered assets reserved in the Emirates". 

The understandings marked by President Buhari a week ago are:

Avoidance of Double Taxation Agreement;

Agreement on Trade Promotion and Protection;

Judicial Agreements on Extradition;

Transfer of Sentenced Persons;

Mutual Legal Assistance on Criminal Matters; and

Mutual Legal Assistance on Criminal and Commercial Matters (recovery and repatriation of stolen wealth).

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Disclaimer: Comment expressed do not reflect the opinion of Isaac Yoma