The Federal High Court in Lagos on Monday ordered the permanent forfeiture of the sums of N9.2bn and $8.4m recovered from wife of former President Goodluck Jonathan, Patience. Justice Mojisola Olatoregun ordered that the funds should be forfeited to the Federal Government. The judgment followed an application by the Economic and Financial Crimes Commission, which […]
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The Presidency says the global banking giant, HSBC, has no moral justification whatsoever to project that a second term for President Muhammadu Buhari “raises the risk of limited economic progress and further fiscal deterioration.” Malam Garba Shehu, the Senior Special Assistant to the President on Media and Publicity, stated this in a statement in Abuja […]
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The visit of President Muhammadu Buhari to U.S. President, Donald Trump, has yielded the finalisation of negotiations to repatriate more than $500 million (about 190 billion Naira) of Nigeria’s looted money traced to the U.S. Nigeria’s Attorney-General and Minister of Justice, Abubakar Malami, told the correspondent of the News Agency of Nigeria (NAN) in Washington, […]
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Senator representing Kaduna Central, Shehu Sani, wants names of Nigerians owning properties abroad to be made public rather than being disclosed only to the federal government. Dubai, the commercial city in UAE, the UK and the US are among the favourite destinations for corrupt Nigerian government officials to invest heavily in real estate. In August […]
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Justice Mojisola Olatoregun of the Federal High Court, Ikoyi, Lagos, on Wednesday ordered the final forfeiture of two properties in Lagos allegedly belonging to a former Minister of Petroleum Resources, Diezani Alison-Madueke, to the Federal Government. The properties are: Pent House 21, Building 5, Block C, 11th floor (Bella Vista Estate) located at Plot 1, […]
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President Muhammadu Buhari has vowed to sanction culprits of the huge foreign currency stashed in a private apartment in the Ikoyi area of Lagos, says Femi Adeshina, his media aide. In his statement on Tuesday, Adeshina said the president made the vow after receiving a report of the panel established to review the operational, technical […]
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The federal government has made first payment to the whistleblower who helped the Economic and Financial Crimes Commission to recover $43m, N23.2m and £27,800 (N13bn) from an Ikoyi apartment on April 12, 2017. PUNCH reported that the whistle-blower travelled out of the country less than 24 hours after receiving part of the N421m reward. Yakubu Galadima, […]
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The governments of Nigeria and Switzerland have sealed a memorandum of understanding (MoU) for the return of $321 million traced to former Nigerian military ruler, Sani Abacha. The deal was signed on behalf of Nigeria by Abubakar Malami, the attorney-general of the federation, in Washington DC, US, on Monday afternoon at the headquarters of the […]
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President Muhammadu Buhari on Wednesday set up a committee to audit recovered loot and assets seized from corrupt former officials. The committee has four weeks to complete its assignment and to turn in its reports. The president noted there had been “fundamental gaps” in taking stocks of recovered loots and seized assets among agencies involved […]
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Abubakar Malami, minister of justice and attorney general of the federation, AGF, Thursday, said that negotiation has been concluded with Switzerland to return $321 million recovered from the late Abacha’s family. The AGF disclosed these in Abuja at a Pre-Global Forum on Asset Recovery, GFAR Consultative meeting. He said that with the conclusion of the […]
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