Many government officials, both past and present who have at one time or the order been involved in shady deals are currently in fear over Tuesday’s news that President Muhammadu Buhari has signed agreements with the United Arab Emirate (UAE) on repatriation of stolen funds and extradition of indicted officials.
The new agreement, known as The Mutual Legal Assistance on Criminal and Commercial Matters, means that the UAE government will return monies hidden or invested in banks and real estates in the country by Nigerians through dubious gains.
The agreement is coming after it has been observed that many Nigerians who have been investigated in the past for siphoning the country’s resources have been traced to the country.
For example, when former Governor of Delta State, James was been investigated for massive fraud in 2010, he was known to have sought refuge in UAE before been extradited to the UK, where he was sentenced to 13 years in prison by the Southwark Crown Court in London.
Others who are believed to have used UAE as safe haven after stealing public funds are: the former chairman of the Pension Reform Task Team, Abdulrasheed Maina, who is wanted for allegedly stealing N2.8 billion and former Comptroller of the Nigerian Customs Service, Abdullahi Dikko, who is also being investigated for several sharp practices involving large sums of money while in office.
Apart from the Mutual Legal Assistance on Criminal and Commercial Matters, Buhari and his delegation also signed a series of other bilateral agreements at the World Energy Forum.
Other agreements signed with the government of that country included: Avoidance of Double Taxation Agreement, Agreement on Trade Promotion and Protection, Judicial Agreements on Extradition, Transfer of Sentenced Persons.
The Judicial Agreement on Extradition, Transfer of Sentenced Persons and Mutual Legal Assistance on Criminal and Commercial Matters will enable Nigeria to deal decisively with fraudulent public office-holders, both current and past who have either stored their loot or are planning to do so in UAE.
Impeccable sources have confirm that affected people are now under severe pressure, running helter-skelter to ensure they move their stashed loots away from the country before enforcement begins in full swing.
Reports show that not less than $200 billion allegedly syphoned from the country’s treasury by former government officials is believed to be hidden in UAE.
With the signing of the agreements the government can now actively demand the repatriation of funds hidden in the country by convicted former officials as well as demand the extradition of other Nigerian fugitives residing in the country.
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