The Economic and Financial Crimes Commission (EFCC) is poised to seize assets valued at over $1 billion dollars in Dubai.
This comes after the signing of more bilateral agreements between the United Arab Emirates and the Nigerian government in Abuja yesterday.
Twenty-two politically exposed Nigerians are under probe by the EFCC for converting public funds to acquire properties and stash loots in Dubai.
One former governor who spent several years in a Western prison is reported to hold about $517 million in Dubai. Also former Petroleum minister, Diezani Madueke is reportedly the owner of two apartments with a value of 30 million Dirham (about $10 million).
A source with knowledge on the matter said, “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.”
“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.”
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