Posted on 10/09/2005 9:12:00 AM PDT by LesbianThespianGymnasticMidget
THE Economic and Financial Crimes Commission (EFCC) has commenced moves to confiscate property valued at over N10 billion believed to have been secretly acquired by some serving governors and other top government officials. The renewed moves by the Commission is said to be a fallout of the recent arrest and detention of Bayelsa State Governor, DSP Alamieyeseigha, in London, over money laundering charges.
Before the governor’s arrest, some “smart” governors and government officials, who were said to have saturated Europe and America with looted funds were said to have diverted their attention to South Africa, which, according to sources, is believed to operate a friendly property market. A source told Sunday Tribune “The Commission is secretely investigating all of them (governors) and government officials) and we are getting results, our major headache is this immunity thing, but we are moving ahead.”
It was gathered that at least, four governors, two of them in the South-South have taken over almost all choice property in the major cities of South Africa. Some serving legislators are said to have bought estates running into millions of naira. “We have it on good authority that at least, two governors are now competing as to who can buy the choicest property in South Africa. They should know that EFCC is watching them because, we suspect that all those are being done with state resources”, another source said.
It was further gathered that the renewed effort at siphoning money into South Africa gained currency in the last one year following the efforts of European countries and the United States of America to stamp out money laundering. “You know that EFCC in now a member of Interpol, that is why it is easy for us to monitor the activities of the governors. We have seen much co-operation from the European countries and the United States because they have always seen results in the complaints of their citizens against 419 activities of some Nigerians, EFCC has impressed them” another source told Sunday Tribune.
Sunday Tribune gathered that rather than keeping the allegedly acquired monies in South African banks, the affected officials have diverted into property as a way of tying down the illegally sourced wealth. The source further said that the Commission is currently collating the details of the property so far acquired by Nigerian governors, legislators and top government functionaries in South Africa, preparatory to making the big move that will ensure that some pro-perty become that of the government of Nigeria.
“We don’t envisage that it would be difficult to confiscate such illegal property, since we can prove that the sources of the money used in purchasing them do not correlate with the earnings of such officials, but we are also seeking further proofs, if people come up with genuine evidence, the property will be released to Nigeria,” a source in the Commission further told Sunday Tribune
Nigeria has in the past years remained rooted on the black list of the Financial Action Task Force (FATF), the world’s anti-money laundering body. The last assessment released in March indicated that the country has not achieved much in its efforts aimed at stamping out money laundering as the country was not listed among those whose names were deleted from the FATF black list.
Ping
Sounds like a Nagin move.
Now I feel bad. If I had only made it to Western Union with my $400 before they closed yesterday...
Does this mean I won't be getting my cut of the money now?
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