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Tag: looted funds

  • Looted funds: EFCC will arrest more suspects, says Magu

    Looted funds: EFCC will arrest more suspects, says Magu

    Chairman of the Economic and Financial Crimes Commission (EFCC) Ibrahim Magu yesterday asked Nigerians to expect more arrest and trial  of  corruption suspects and recovery of looted funds.

    He also said that enforcement alone cannot win the war against corruption, identifying prevention as an effective and necessary weapon that must also be employed in conjunction with enforcement.

    He disclosed that a new campaign, “EFCC Women Against Corruption initiative”will be launched in November by President Muhammadu Buhari’s wife, Hajiya Aisha.

    Magu made the submissions in an address in Abuja at the “Unveiling of the EFCC creative youths initiative against corruption”.

    He said: “Ladies and gentlemen, as we know, the people most impacted by the mindless looting of our commonwealth, are women and children.  These are the most vulnerable in our society and must not only be protected, but armed with the necessary tools to fight a sustainable and winnable war against corruption.

    “Our children must see that there is a future away from corruption and be encouraged to take that path of honour, moral rectitude and creative employment of their talents, which had been shunned by so many of our corrupt leaders.

    “Let me clarify that EFCC will continue to vigorously enforce its mandate alongside engaging in preventive initiatives such as this.

    “Therefore, even as we appeal to the old and the young to shun corruption and other forms of fraud, expect to see more investigation, more arrests, more trials, more convictions and more recovery of stolen assets.”

    He assured the audience that the commission will do its best to prevent corruption in the country.

    The EFCC sought the support of all Nigerians to make the war against graft successful.

    He added: ”We are the first to recognise that enforcement alone cannot win the war against corruption.

    “Prevention is an effective and necessary weapon that must be employed in conjunction with enforcement and there is no group of Nigerians better equipped to wield that weapon than the youths.

    “Let us bear in mind that the task to rid the nation of the corruption cankerworm cannot be left to EFCC and other anticorruption agencies alone.

    “We are all stakeholders in the war and cannot let the future generations down; it is for their future that we must sacrifice our today.

    “Let us work together for our dear nation; let us join hands to build for our children the future we desire.”

    Magu praised Nobel Laureate, Prof. Wole Soyinka for championing the initiative to promote preventive action against corruption among the youths.

    He said: “I  really have to express my sincere appreciation to Professor Wole Soyinka, whose brainchild this Initiative is.  When I met him in January, he offered me this unique platform to carry forward the prevention mandate of the commission.

    “ I am really happy to see that we have reached this stage of the programme and with the support of all stakeholders, I am confident that the Initiative will definitely expand the anti-corruption mandate using as vehicle, the innate creativity of our young ones.

    ?”That is the essence of this Initiative, which is a forerunner of sorts to the EFCC Women Against Corruption initiative, that will be rolled out by the First Lady, Hajia Aisha Buhari, in November.

    “That project will bring on board the anticorruption train, Nigerian women from all walks of life.”

    END

     

     

     

  • ‘Igbinedion spends ‘looted’ funds on Oshiomhole’s election’

    ‘Igbinedion spends ‘looted’ funds on Oshiomhole’s election’

    The governorship candidate of the Peoples Democratic Party (PDP), Pastor Osagie Ize-Iyamu, has asked Governor Adams Oshiomhole to refund the money Chief Lucky Igbinedion allegedly expended on his elections in 2007.

    The refund, Pastor Ize-Iyamu said, became necessary because Oshiomhole has consistently accused his predecessor of looting the treasury.

    Pastor Ize-Iyamu admitted that the man that financed Oshiomhole in 2007 was Chief Igbinedion.

    He spoke last weekend at the unveiling of a book titled: “Betrayal of Trust,” written by an ex-aide to Oshiomhole, Orobosa Omo-Ojo.

    The candidate said Igbinedion was one of the biggest contributors to the money that was spent during his campaigns.

    He said Oshiomhole as the President of the NLC never protested against Lucky’s policies ‘because he deliberately needed his friendship.’

    Ize-Iyamu also urged Oshiomhole to refund the money collected from President Goodluck Jonathan in 2011 to ensure the defunct ACN lost the presidential election.

    He said: “Lucky Igbinedion recommended him to some of us that people are saying he had not done well, let him appoint a man who is popular, who appears to have popularity among the people. Let it be on record that he helped him to become governor. That was how he introduced Oshiomhole. We did it for two reasons.”

    “First, was that because Edo is one and an Afenmai man has never become the governor. We felt it was time for an Afenmai man to become the governor. I also bought the story of Lucky Igbinedion that this man just left office as President of the NLC. This man will be interested in the masses, he will be interested in our pensioners, he will be interested in students. This man will excel. On that note, we supported him. He declared he had no money, we have to put all the resources together to support him.”

    “When he is busying talking about Lucky Igbinedion, let Edo people know that it was Lucky Igbinedion that brought him. In 2007, I want him to tell Edo people where he got the money he spent to become governor. In case, he has forgotten, I will like to remind him that most of the money comes from Lucky Igbinedion. Since he is saying Lucky Igbinedion stole Edo State money, can he please refund the money he collected from Lucky.

    “In 2012, Oshiomhole was in ACN. I know that a governor in ACN collected money from Jonathan in 2012 to betray his party such that ACN lost in Edo.

    “I did not betray my party. A governor collected money from Jonathan to betray his party and ensure his party lost in Edo. As he is talking about people refunding money, please remind him to refund the money he collected from President Jonathan. He should please refund that money.

    “Let me confess that when I was his DG, he brought a lot of money for us to use for campaign, I don’t know where he got that money from. I have been told he got that money from the state government coffers. Can he please refund the money.”

    The author of the book, who is a former Commissioner for Transport, Omo-Ojo, said the book gave an insight into the person and administrative style of Governor Oshiomhole.

    He said the book revealed those that supported Oshiomhole and why Oshiomhole lost focus in governance.

  • Buhari advised to recover looted funds, shun IMF loan

    Buhari advised to recover looted funds, shun IMF loan

    President Muhammadu Buhari has been advised to redouble his efforts at recovering looted public funds so that such funds could be ploughed back into the economy instead of seeking loans from the International Monetary Fund (IMF).

    An agro-allied economist and aviation expert, Captain John Okakpu, who spoke with reporters in Lagos at the weekend, said the president should ignore calls to seek foreign credit line to put the economy back in shape.

    Okakpu, who is the Managing Director and Chief Executive Officer of ABX World, condemned the stringent conditions Switzerland and other foreign financial institutions have handed down to the Federal Government before repatriating the looted funds in their custody. “That is completely wrong; Nigeria has the right to decide on whatever it wants to do with the funds,” he said.

    He urged the National Assembly to pass laws that will prescribe stiff penalties for fund looters to make stealing unattractive.

    According to Okakpu, the repatriated stolen funds could be given to Small Medium Enterprises (SMEs) at a single digit interest rate to create more impact on the economy.

    “We have to start taking care of ourselves. Over the years, IMF has been giving us loans, knowing that we are corrupt,” he said.

    He said amnesty should be granted to fund looters, arguing that the gesture would encourage them to repatriate their loot.

    He  said: “The amnesty means whatever anybody has starched abroad, let’s grant them official pardon and deposit it with Nigerian banks; the fund could be given as loan at single digit interest rate for indigenous investors to develop other sectors of the  economy as we move away from oil and gas.

    “If you look at other nations, they have systems to control this kind of amnesty; they use their money to develop their countries, whereas, we feed them with our funds. Amnesty is a way out.

    “Fighting people to get these funds may take time and lead  to nowhere. Between the last 30 and 40 years, so much funds have been stolen and taken away from Nigeria. If amnesty is extended in place, the Nigerian banks will become so big even as to extend facilities to the IMF. Fighting to get the money from them may cost more than what they will remit at the end of the day; even if you recover $10billion from them, it is just a fraction.”

    He said if the Federal Government embraces the amnesty option and give it legal backing, in the next six months, over $100billion could be repatriated to the system.

    Okakpu said for an ailing economy like Nigeria’s, there is need to inject funds that will energise the system and put money into the hands of the citizens.

    According to him, the promotion of agric produce has become imperative in the face of slump in the prices of crude oil in the international market, adding that current global realities have made it important for government to be more creative in exploring other sources of revenues  than depending on crude oil.

    H said: “In Africa today, Kenya is leading in a network called Global GAP; which involves all the supermarkets in Europe and North America. Unfortunately, neither the Federal Government, state, local nor community in Nigeria has Global Gap certification, which is one of the reasons we can’t even sell our agro-allied produce direct to Shoprite.

    “How do we put our products to the world? Kenya leading the African Continent has 1,879, certifications; South Africa has 1,797; Egypt has 671, Ghana has over 200 certifications, and others, while Nigeria is zero.

    “Agriculture is private sector driven. What is expected of the government is policy direction and structures in place to empower subsistence farmers, not commercial farmers only.“

  • Lawyer faults FG’s failure to disclose names of looters

    The decision by the Federal Government to withhold names of individuals from who looted funds were recovered has been faulted.

    A senior lawyer, Ajibola Oluyede argued that the decision by the government to rescind it’s earlier pledge to name those from who looted funds were recovered as an incentive to corruption.

    In a statement yesterday, Ajibola argued that the government’s decision to be silent on the names of identified looters cannot be justified in law.

    “It is strange to hear that some legal minds advised the President not to release the names of persons who had admitted wrongdoing and in restitution returned sums of money to the government.

    “That would be strange legal advice indeed , it is not legal advise, clearly pure political advise.

    “These are not persons who had been illegally enriched in contract but in criminal law. Naming in such circumstances must be done as a step towards prosecution and there must be prosecution to activate plea bargaining under the ACJA.

    “What the public should be very concerned about is the reason for which the names are being withheld.

    “It’s that reason that exposes how deep and pervasive corruption has become in Nigeria.Certainly not any legitimate legal advise,” Oluyede said.

  • Cleric to Buhari: recover all looted funds

    Cleric to Buhari: recover all looted funds

    The Federal Government has been urged to fulfil its pledge of recovering stolen funds from past public office holders and other influential Nigerians.

    The Bishop of Owo Diocese, Methodist Church, Nigeria, Rev. Solomon Adegbite, who gave the advice at the Bishops’ Synod held in Ondo State,  advocated amnesty for those who returned their loots on their own volition.

    Delivering his address at the 28th Synod of the Diocese held at Methodist Church, Nigeria, Oke-Owo, Ondo State, he said the nation’s laws should be curative/transformative rather than punitive.

    Rev. Adegbite called for quick dispensation of justice, stressing that the case of suspects awaiting trials for years was not a good development.

    The church leader praised the efforts of the Federal Government in diversifying the economy, stressing that the moves should be followed up with action rather than rhetoric.

    He also praised the Federal Government for granting the bailout funds to majority of the states, describing it as laudable, even as he urged benefiting states to ensure the money is used for the purpose it was meant.

    While calling on political office holders to imbibe the culture of prudent management of resources, Rev. Adegbite condemned the spate at which herdsmen attack innocent citizens in virtually all the states of the federation.

    He urged President Muhammadu Buhari to sustain the ongoing anti-corruption crusade devoid of witch-hunting of perceived political opponents, saying the campaign should not be selective.

    The Bishop advised the present administration to ensure equity and fairness in all its dealings, adding that the secular nature of Nigeria should be respected.

    Delegates for the Synod came from various circuits, sections and special areas within Owo Diocese. Bishop Adegbite presided over the Synod.

     

  • ‘Corrupt officials should return looted funds’

    ‘Corrupt officials should return looted funds’

    All Progressives Congress (APC) chieftain Senator Olabiyi Durojaiye suggests punitive measures for those involved in the sharing of arms and ammunition funds. He also speaks on the mass defection from the Peoples Democratic Party (PDP) to the APC, the judiciary, the Biafra agitation and other issues leke salaudeen met him.

    What is your reaction to the revelations on $2.1 billion for arms and ammunition scam?

    I was surprised about the amount and the personalities involved. One would not have thought it was as deep as the revelations we are now getting. On whether it is proper for civilians to collect money from the Office of the National Security Adviser (NSA), what is not proper is if the purpose is not a lawful one. It is too early to start pontificating on the revelation because what we have now is just a tip of an ice berg. We are yet to get revelations from the Nigerian National Petroleum Corporation and Nigerian Customs Service.

    Should President grant amnesty to those who refund the money?

    I don’t share such sentiment. There is a legal maxim that says: “Ignorance is no defence in law”. They have taken a risk. All those involved in the arms funds should bear the consequences of the risk. It is a lesson people should learn from.  There should be a punishment that will make it a deterrent for people in future to be wary of Greek Gift they take.

    Observers say the mass defection from Peoples Democratic Party (PDP)  will pollute All progressices Congress (APC). What do you think?

    Every citizen has the right under our Constitution the freedom of association, freedom to join any party. But our leaders in APC should be careful of Greek Gift. However, mass defection of opposition members to APC after winning election calls for caution to avoid Greek Gift. It is an avoidable risk that APC should avoid. I said it as far back as March last year when the trend started, that curtain should be drawn immediately after presidential election.

    I said all PDP and other political parties that went into alliance with us in APC should be regarded bonafide progressives. But all those that came after should be viewed with suspicion as potential gold diggers who were probably attracted by spoil of office not minding our party’s change mantra that it cannot be business as usual. That transparent service to the people is what APC stands for. We should not allow those who are likely to pollute the progressive ideology of our party or the spies in the belle of Trojan horse who came to harm and destroy the receiver of the Greek Gift.

    There is a Yoruba adage which says: “Oore wo ni orisanla se abuke ti abuke pe omo re ni Orisagbemi?” which literally translates: What good has deity (Orisanla) done to a hunch back that she named her child God’s gift?” Is it the heavy burden on her back? They were in PDP government for 16 years. What good did they to the nation that they want to continue under APC? There may be some exceptions however. Our party leaders should be wise enough to be very selective about some possible exceptions. They can only be counted on the finger nails those who have not been tainted and only looking for a safe haven, they should not be disappointed.

    President Buhari has expressed reservations about the court’s readiness to support his administration in its fight against corruption?

    I am sure the judicial officers today do not live in isolation. They are aware of the puritanical change of direction in the governance of the country and the ovation from international observers such as Secretary of State of the United States, John Kerry’s commendation for Federal Government and our country’s current fight against corruption.

    They have to interpret the law and administer justice accordingly; the whole world is watching us. I am confident however, that the judiciary will not fail us because I have noticed long before now some warnings the current Chief Justice of Nigeria, Justice Mahmoud Muhammed has given to all judges in the country to administer justice without fear or favour. He gave the warning while swearing in new judges of the Abuja High Court. According to him judicial officers should resist temptations when they encountered them. The CJN statement reads in part:

    As judicial officers, series of temptations will come your way but the ability to resist them will definitely stand you out and earn you lasting reputation on the Bench. Otherwise the National Judicial Council, which has the constitutional powers to discipline judicial officers, will not spare any judge for any misconduct. For a judge, this distinction is further heightened because as dispenser of justice, you are now the representatives of Almighty Allah on earth.

    In your hands, you have the power of life and death, the power of judgment, the power to restitute, the power to give back and the power to take. You are now the face of law and order, the fulcrum between harmony on the one hand and chaos on the other. The judiciary by the nature of its function and role is the citizen’s last line of defence in a free society, that is, the line separating constitutionalism from totalitarianism.

    No doubt, to effectively dispense your judicial functions and meet the jurisprudential needs of litigants in our courts, we must remain intellectually astute by consistently updating our knowledge of the law and other contemporary issues within the society. An issue which is of great concern to me and one that I am committed to addressing during my tenure, is the delay in the dispensation of justice and the resultant case backlog. The sobering reality is that if the number of pending cases continues to grow their present rate, our children may not be able to initiate and conclude a lawsuit within their lifetime”.

    Given the CJN’s riot act, I am optimistic that the judiciary will not betray the government programme of wiping out corruption as everybody knows that the judges are not above the law.

    What is your view on the Biafra agitation by the Igbo people?

    I don’t support secession in any form. Yoruba say: “cutting of the head is not a cure for headache.” That is maxim in extreme. The extreme solution is secession. And for all we care, agitation for secession may be disappointed at the end of the day. You just only look at secession as mirage. When you are in the desert, you look in front of you and say, there is a bit of shade ahead. But when you get there, it will disappear and reappear farther ahead. A lot of implications would arise. What we call inter tribal challenges now would become intra tribal.

     

     

     

     

     

     

    If Yoruba secede for example, we don’t plan it and I don’t think so, because I will not support it. But suppose we decide to secede then, remember our competitors are not Hausa, Fulani or Ibo. It will now be Egba, Ijebu, Ijesa, Oyo and Ife. That is what is likely to arise. And some would be at advantage more than others. If secession is carried out, some areas would become land-locked. To have direct access to the sea, they would have to pay duties. Some of them have invested in other parts of the country, how would they have access to their properties?

     

    Look at Lagos alone, is it only Yoruba who have big investments in Lagos? Now, if it is said that all foreigners should go, where do we go from here? Some of these things we should look at. Some of your friends with whom you move around together now, you would become jealous of each other. There may be some aggressions. People coming from outside may maraud and make life difficult for you. These are the likely possibilities. I don’t think it should happen. The agitators are only looking at being themselves and doing things their own way.

     

    Apart from that in the world today, number is a force to reckon with. It was only in 1954 that China became independent, just six years ahead of Nigeria. Between that time and now, by dint of hard work and sheer weight of number and purposeful leadership, they are now challenging number one power of the world. They are now in the topmost three in the world today. Population is one of the conditions for it. That is my advice, may be because I am old. I will be 83 this month. But this is the way I see it. I love Nigeria the way we have been. Once an experiment has been managed and has been manageable for a hundred years, it should be presumed to be a workable experiment.  We have been in Nigeria for a century and one year now.

     

    What is the way out?

     

    The way out is the Constitution. We should redraft the constitution. Not just a wish washy stuff but a wholesale. We should tailor it back to 1960 Constitution. That 1960 model, I believe will certainly do well for the country.

     

    What is your advice to the Niger Delta militants vandalising oil and gas pipelines?

     

    The young men involved in sabotaging should realise that they are squeezing the economic jugular vein of modern Nigeria. It could be dangerous, provocative and treasonable.

     

     

     

  • Falana to Fed Govt: recover looted funds

    Falana to Fed Govt: recover looted funds

    Lawyer-activist Mr. Femi Falana (SAN) has urged the Federal Government to receover stolen funds to finance the 2016 Budget.

    Falana, in a statement, Falana said: “From information at our disposal, the Federal Government is owed not less than $66.5 billion, which ought to be recovered without delay.”

    He said independent audit reports by the National Extractive Industries Transparency Initiative (NEITI) put the potential recoverable revenue payable to the Federation Account at not less than $20.221 billion.

    “The potential recoverable revenues are said to have arisen from “underpayment/underassessment of taxes, royalties, levies and rents,” he said.

    Falana added: “On October 4, 2006, the Central Bank of Nigeria apportioned $7 billion to 14 Nigerian banks to “manage” of the nation’s external reserves of $38.07 billion, as at July, 2006.

    “In addition, following the crisis of global capitalism, which occurred in 2008, the CBN gave a bailout of $4 billion (N600 billion) to commercial banks.

    “The CBN has not deemed it fit to ask for the refund of the $11 billion injected into the banking system in the space of two years.”

    He said on September 6, 2015, the Presidency announced that the management of the NNPC commenced the process of recovering the $9.6 billion in over deducted tax benefits from joint venture partners on major capital projects and the legacy OPA/SWAP oil contracts.

    “A fortnight ago, Mr. Abubakar Malami, the attorney-general of the federation and minister of Justice, said the Federal Government had concluded arrangements to recover additional $750 million from the ‘Abacha loot’,” Falana added.

    He said in the Senate probe into the affairs of the Asset Management Corporation of Nigeria (AMCON), it was revealed that the corporation accumulated over $25 billion (about N5 trillion) debts.

    “According to Mr. Ahmed Kuru, AMCON’s chief, ‘most of the debtors of AMCON fly in private jets, live in big mansions,’” he added.

    “From the foregoing, you will agree with us that Nigerians should not pay for the gross mismanagement of the economy by the Federal Government and the profligacy of the pampered members of the ruling class,” Falana said.

    He added that instead of taking $2.5 billion “with dangerous conditionalities from the World Bank”, the Federal Government should recover the loans and revenues of not less than $66.5 billion with the assistance of anti graft agencies.

     

     

  • How Dariye shared looted Plateau State’s N1.162b – Witness

    How Dariye shared looted Plateau State’s N1.162b – Witness

    Four about three hours Tuesday, a witness in the trial of former Plateau State governor, Joshua Dairye gave details of how he allegedly shared to political associates the sum of N1.162billion he obtained from the Ecological Fund in the name of the state.

    Reeling out names and figures from documents submitted to the court, including Dariye’s statement made to the Economic and Financial Crimes Commission (EFCC), the witness, Musa Sunday explained how Dariye allegedly shared the N1.162b he obtained in 2004 as a governor.

    Dariye, who served between 1999 and 2007, is being prosecuted for allegedly diverting Plateau State’s funds while in office as governor.

    Sunday, an investigator with the EFCC was cross-examined by Dariye’s lawyer, Garba Pwul (SAN).

    He said investigations by his team of investigators assigned to the Dariye case, revealed that the ex-governor gave N100m  to former Vice President, Atiku Abubakar, who was then the coordinator of the Ecological Fund; N100m to South-West PDP, which was received by then Minister of Special Duties, Yomi Edu, N80m to then permanent Secretary of the Ecological Fund  agency in the Presidency, Kingsley Nkoma; N10m  to former Deputy Senate President, Ibrahim Mantu, N6.8m to PDP Plateau State and N66m to 274 PDP wards in the state.

    Sunday, who is the first prosecution witness, read out where Dariye confirmed the distribution of the money among his political associates in a statement he wrote to the EFCC in July 2007.

    “The Ecological Fund is under the Presidency, but the Office of the Vice President oversees it and Chairs the Funds activities. The Vice President at that time was Alhaji Abubakar Atiku.

    When given Dariye’s statement to read, the witness read from page 10 of the statement marked exhibit P13 (a) how Dariye gave a breakdown of how he disbursed the N1.162b received from the Ecological Fund

    The witness said Dariye informed him that gave Senator Mantu, who was then a Deputy Senate President, N10m; PDP, Plateau State, N6.8m, while N66m was distributed 274 wards of PDP in the state.

    Sunday also read from page 11 of the statement, where Dariye said the N100m given to PDP Southwest was received by Yomi Edu (then Minister for Special Duties), while the N100m paid to Marine Float Limited, was given to Vice President Atiku.

    “In the course of investigation, Marine Float was found to be a company owned by the former President, Alhaji Abubakar Atiku. As at when the money was paid, the Vice President was the Chairman of Ecological Fund,” the witness said.

    He denied knowledge whether the N100m was recovered was recovered from Atiku.

    When Pwul suggested to the witness that the then President, Olusegun Obasanjo returned to plateau State in 2004, the 100m paid to the South West PDP by Dariye, the witness denied knowledge of such development.

    He said further investigation on the issue also revealed that Dariye paid N80m to the then Permanent Secretary of the Ecological Fund, Kingsley Nkoma N80m “for facilitating the prompt release of the N162b.

    “The N80m paid in favour of Union Savings and Loan, was traced to Kingsley Nkoma, Permanent Secretary of Ecological Fund. We recovered the N80m from Nkoma, who said that was his share for facilitating the release of the money. That was the bribe he collected.

    “Investigation proved, while he was invited, that the N80m paid to him through Union Savings and Loan was bribe money paid to him by the defendant. The money was recovered from him. The N80m registered from Nkoma is registered as Exhibit and it is with the EFCC. When we invited him, Nkoma said that that was his share of the money and he was made to return it.”

    The witness reiterated his earlier claim that Dariye made his banker, All States Trust Bank (now defunct) to conceal his identity. He said their investigation revealed that the mandate card for the account allegedly operated by a firm linked to Dariye – Ebenezer Ritnan Venture – did not carry anybody’s photograph as required. He said they were able to uncover the company’s true ownership by Dariye’s signature on the mandate form.

    He said Dariye allegedly diverted his share of the N1.162b into the company’s account.

    The witness said the bank and its officials, who claimed to have granted Dariye waiver by not including his photograph in the account opening documents, have since been convicted by a Federal High Court in Kaduna for aiding fraud.

    “In the course of investigation, we found the waiver granted Dariye not to be proper, and as a result, the maker, the Account Officer, A. Awe Odesa was charged before the FHC, Kaduna. The issue of the waiver was part of the charge.”

    The trial resumes Wednesday at 12 noon.

  • Ribadu opens up on $60b looted funds, $15m bribe from Ibori

    Ribadu opens up on $60b looted funds, $15m bribe from Ibori

    A former Chairman of the Economic and Financial Crimes Commission (EFCC), Mallam Nuhu Ribadu, at the weekend said about $60billion looted funds left Africa yearly.

    He said ex-Delta State Governor James Ibori attempted to bribe him with $15million in two big bags, but he resisted.

    Ribadu said the bribe was, however, deposited in the Central Bank of Nigeria (CBN) to serve as evidence against him.

    The ex-EFCC boss, who spoke at the TEDx Talk in Berlin, Germany, said although “anti-corruption war is the most dangerous work, this is one war worth fighting.”

    In the video clip, released on You Tube by Ribadu Media Office and transcribed by our correspondent, Ribadu said: “Do you know that every year, $60billion leaves Africa illegally?  This figure is from the Economic Commission for Africa (ECA).

    “Billions are going out of Africa every year. I’m a Nigerian and I am from this paradoxical continent where today our most notorious export in Africa is stolen money.”

    He explained how he resisted the $15million bribe from Ibori.

    Ribadu said: “Ibori approached me with $15million to stop his investigation. I called my people because the money was in big bags, which two people could not carry and we deposited it in the Central Bank of Nigeria (CBN) as evidence against him.

    “I arrested Ibori and prosecuted him. Since his friend was in power, they removed me, sent me to a school as a student where I was once a teacher.

    “They made attempts on my life, but they did not know I was using a bullet-proof Honda car. As God would have it, ex-President Umaru Yar’Adua died. Ibori escaped to Dubai from where he was taken to the United Kingdom for trial. He is serving a jail term in the UK.”

    On the trial and conviction of ex-Inspector-General of Police Tafa Balogun, the former EFCC chairman said the case was a by-product of the investigation of Emmanuel Nwude, who duped a Brazilian bank of $254m.

    He said: “The case of Nwude made us to be more determined. In the course of his case, I stumbled on an account belonging to my boss, Tafa Balogun. I arrested him, he was tried and convicted, and I recovered enough from him.

    “We also investigated and tried about 49 chief executives of banks. Fighting corruption is a war and if you are in a war, you must go for the big targets.”

    On the $184m Halliburton scandal, Ribadu said: “A gang of foreigners stole from Nigeria” from a $6 billion natural gas contract won by a consortium of four international companies.

    He said the investigation was almost running into a brick wall, but he was persistent.

    Ribadu added: “I first got hint of the case in France. I returned home and tried to investigate the case, but it was very difficult or probably impossible because the companies were not there in Nigeria, they didn’t have account there, the people were not there. They had left.

    “I rushed back to Paris. I was in Paris many times. I wrote a request letter, but after a year of trying to get French authorities to help us, the investigation magistrate told me that they could not get anyone to translate my letter from English to French. I knew it was a hopeless case.”

    He said after failing to get France, Italy and Japan to help, he opted to go to the United States, although Dick Cheney, the then US vice president, was on the board of Halliburton.

    “The Department of Justice in the United States took up the case. They investigated and prosecuted the case. They placed a fine of over $1.5billion on the company, the biggest in the world for corporate corruption.”

    Ribadu said some of the cases, which the EFCC under his watch referred to US Department of Justice, including those of Siemens and Julius Berger, the US made over $3billion in fines.

    He added: “But the sad aspect is this, in my own country, where the criminal activity took place, not a person was made to face justice, especially after I was asked to leave my position. Sadly, Nigeria did not make a dollar out of it.”

  • We’ll assist Nigeria recover looted funds, says U.S.

    We’ll assist Nigeria recover looted funds, says U.S.

    THERE was a major leap yesterday in President Muhammadu Buhari’s anti-corruption war. The United States (U.S.) promised to help Nigeria track ill-gotten wealth and recover same.

    President Buhari had during his Monday meeting with President Barack Obama at the White House in Washington D.C. sought the help of his host in locating and returning some $150 billion stolen from the public till in the past decade.

    He got a positive response to his request from the U.S. Attorney-General, Loretta Lynch, who assured him that the U.S. government will assist in the recovery of funds siphoned from Nigeria and deposited in America and in countries in which it has jurisdiction.

    Besides, the Attorney-General promised that the U.S. will assist in sharpening the crime prosecution skills of Nigeria’s legal officers.

    The promises were contained in a statement sent to media houses by Buhari’s Senior Special Assistant on Media Garba Shehu.

    The statement reads: “In line with expectations, the United States government has agreed to assist Nigeria recover all identified ill-gotten wealth in countries in which they have jurisdiction, including the U.S itself.

    “The United States will also offer training to judicial staff and prosecutors in order to place Nigeria in a good position to uncover proceeds of corruption and for improved prosecution of cases of crime.

    “Details emerging from the meeting on Monday of the President with the  United States Attorney-General Loretta Lynch on the subject of support for the war on corruption in Nigeria indicate that the Mutual Legal Assistance Treaty signed between the two countries in 1985, which came into effect in 2003, will be given some teeth.

    “There will be collaboration. Each of the two countries will receive legal assistance from the other on criminal matters and that should cover the recovery of ill-gotten wealth. On extradition, we already have a treaty with U.S. by virtue of being a former British colonial territory.

    “There is, however, the possibility that Nigeria might negotiate a new extradition treaty to meet our other requirements. The negotiation will be done under the auspices of a ‘reenergised’  U.S-Nigeria Bi-National Commission.”