as UAE tightens noose around offshore companies
The Economic and Financial Crimes Commission (EFCC), is closingin on a former governor from the Southern part of the country, who is alleged to own 29 choice property in the United Arab Emirate (UAE), Saturday Telegraph’s investigation has revealed.
Sources disclosed that the former governor would soon be invited to the commission’s headquarters in Abuja, to answer questions on the alleged ownership of the luxury houses, each of which is said to be valued at over $1 million. It will be recalled that New Telegraph had exclusively reported on Monday the tracing of the property by the Foreign Desk Office of the EFCC.
A source, who spoke in confidence with Saturday Telegraph, said the commission was determined to deploy all that is legitimately required, to recover the controversial property, once it has incontrovertible evidence to link the ownership of the property to the erstwhile governor.
He insisted that the said luxury homes, were allegedly acquired through offshore companies, who are also responsible for their management. This is even as Saturday Telegraph further gathered, that the UAE government was mounting pressure on the offshore companies to come clean on the true ownership of the assets.
The decision by the Federal Government to seek the support of the government of UAE, and the latter’s cooperation, Saturday Telegraph learnt, comes on the heels of a subsisting Bilateral Agreement, which countries signed sometime in January.
The signing, which took place in Abu Dhabi, was witnessed by President Muhammadu Buhari and the Crown Prince of the UAE, Mohammed Bin Zayed Al Nahyan. “Further to the earlier tracing of the assets, the EFCC is working towards inviting the ex-governor to come and defend himself,” the source said.
Asked to be specific on the date, he declined, saying: “I can’t tell you that; you will know once that happens.” He added that: “The UAE government is mounting pressure on the offshore companies to make some disclosures to it, which will definitely help our investigation. Once all relevant procedures are concluded, and the commission feels strongly it has a prima facie case, it will charge him to court.”
The Economic and Financial Crimes Commission (EFCC), is closingin on a former governor from the Southern part of the country, who is alleged to own 29 choice property in the United Arab Emirate (UAE), Saturday Telegraph’s investigation has revealed.
Sources disclosed that the former governor would soon be invited to the commission’s headquarters in Abuja, to answer questions on the alleged ownership of the luxury houses, each of which is said to be valued at over $1 million. It will be recalled that New Telegraph had exclusively reported on Monday the tracing of the property by the Foreign Desk Office of the EFCC.
A source, who spoke in confidence with Saturday Telegraph, said the commission was determined to deploy all that is legitimately required, to recover the controversial property, once it has incontrovertible evidence to link the ownership of the property to the erstwhile governor.
He insisted that the said luxury homes, were allegedly acquired through offshore companies, who are also responsible for their management. This is even as Saturday Telegraph further gathered, that the UAE government was mounting pressure on the offshore companies to come clean on the true ownership of the assets.
The decision by the Federal Government to seek the support of the government of UAE, and the latter’s cooperation, Saturday Telegraph learnt, comes on the heels of a subsisting Bilateral Agreement, which countries signed sometime in January.
The signing, which took place in Abu Dhabi, was witnessed by President Muhammadu Buhari and the Crown Prince of the UAE, Mohammed Bin Zayed Al Nahyan. “Further to the earlier tracing of the assets, the EFCC is working towards inviting the ex-governor to come and defend himself,” the source said.
Asked to be specific on the date, he declined, saying: “I can’t tell you that; you will know once that happens.” He added that: “The UAE government is mounting pressure on the offshore companies to make some disclosures to it, which will definitely help our investigation. Once all relevant procedures are concluded, and the commission feels strongly it has a prima facie case, it will charge him to court.”
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