Ex-Governors, Senators Own 130 Dubai Assets

 Ex-Governors, Senators Own 130 Dubai Assets

More than 130 choice assets have been bought with looted funds in Dubai, United Arab Emirates (UAE), by some Nigerian ex-Governors, Ministers and Senators.

These assets are among the over 800 traceable to Nigerians in the UAE, including top Security and Military Officers, even as bribery and corruption, proceeds from commercial tax evasions, illicit activities engaged in by Corporations and Business Ventures and proceeds derived from criminal activities have been identified as the four areas through which the nation’s resources are looted.

Nigeria’s Oil and Gas Sector is believed to have contributed 92.9 per cent of the total amount in Illicit Financial Flows, while the chances of Nigeria recovering most of its looted cash are very low because of the conditions attached to the release of such funds.

These highlights are part of a report on the UAE Component of the Nigeria, UAE and UK Comparative Study of fixing Illicit Financial Flows, which was submitted to the Executive Chairman of the Economic and Financial Crimes Commission, Mr Abdulrasheed Bawa in Abuja.

The Report was commissioned by an anti-corruption group, Human and Environmental Development Agenda, (HEDA.

Although the report did not reveal the identity of the Politically Exposed Persons with the assets in Dubai, Chairman of HEDA, Olanrewaju Suraj told newsmen that the matter has been left to the EFCC to handle.


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