Exposed! 216 assets stashed in UK, UAE traced to Nigeria’s security chiefs

No fewer than 216 overseas assets, out of 800 tracked, were traced to 13 top security officials in Nigeria. The remaining ones belong to 584 politically exposed persons.

According to the Human and Environmental Development Agenda, the UK and United Arab Emirates house these assets the perps looted from Nigeria.

The revelation came at a time when Nigeria’s former service chefs, now ambassadors, are being challenged to account for arm funds voted for counterinsurgency under their watch

At a March 30 conference on ‘Fixing Financial Flows: A critical review of UK and UAE Policies, Laws and practices in Financial and Non-financial Institutions, HEDA’s chairman Olanrewaju Suraju said the illicit financial outflows from Nigeria have continued to hurt the vulnerable poor, fuel violence and constitute threats to moral authority of the Nigerian state.

Nigeria alone accounts for $17 billion of this flow annually.

He added the UAE and the United Kingdom have been facing attacks for failing to live up to international obligations in curbing illicit financial flow.

In a communiqué issued at the end of the Abuja summit, participants said the UAE and UK

“Politically-exposed persons are not just politicians but also their families while enablers of illicit financial flow include dealers in precious minerals, professionals who enhance and sustain illicit financial flows,” Suraj said in a statement.

He urged Nigeria should progressively review her international obligations like the UN Conventions on Corruption which has five focal points which included international cooperation, technical assistance, asset recovery and the mutual legal assistance.”