â€¦As EFCC, CBN, block ex-Governorâ€™s cash transfer bid
â€¦Investors decline buying Akpabioâ€™s estates
â€¦Enoidem, Prince, Emem Akpabio, Obaâ€™s stashed funds trapped
Moves by former Akwa Ibom State Governor and Senate Minority Leader, Godswill Akpabio to hurriedly withdraw over $7.2 billion secretly stashed in banks in the United Arab Emirates have been blocked by the Central Bank of Nigeria (CBN),the Economic and Financial Crimes Commission (EFCC).
Akpabio was allegedly rattled and cut napping when President Mahammadu Buhari signed the Mutual Legal Assistance on Criminal and Commercial Matters, which will allow the UAE government return monies hidden or invested in banks and real estates in the country.
The Nigeria / UAE deal on repatriation of stolen funds led to information sharing between both countries on how much corrupt government officials have stashed in banks in the Emirate as well as luxurious estates and shopping malls.
Investigation reveals that Akpabio has about $7.2 billion spread
across three banks which include the National Bank of Dubai
(Emirates NBD), the National Bank of
Abu Dhabi (NBAD) as well as the Barclays Bank, a major UK banking institution in the Emirates. Akpabio is also alleged to own about 23 luxurious estates and 17 shopping malls in highbrow areas in the Emirates.
Investigation shows Akpabio sought the help of a former deputy director of operations of the CBN to help him withdraw the money in Dubai with a deal to offer him 10% of the $7.2 billion if he can successfully get the money back to Nigeria. But the new monetary policy between both countries got them stucked. Their major obstacle was that there was no way a whopping $7.2 billion can be transferred back to a Nigerian bank without being spotted by both the CBN and EFCC.
Also, Akpabioâ€™s bid to sell off his luxurious estates and shopping malls to avoid the likely probe by the Buhari administration met a brick wall. Many potential buyers allegedly turned down the offer to buy the properties when they realised it belonged to a Nigerian politician. As a plan B, Akpabio was alleged to have tried striking a deal with a Dubai based property expert to change the ownership documents to evade probe. But his plan met an obstacle when he realised that documentation in the Emirates are computerized and chances of spotting any alterations can be detected within seconds of the falsification.
There are indication that Akpabio may not be the only one whose stolen funds is trapped in Dubai. Most former members of his cabinet too are involved. Emem Akpabio allegedly has about #130 billion stashed in Dubai, alongside Prince Akpabio, Emmanuel Enoidem. etc
Culled from Global Concord