Over $200 Billion in Missing Nigerian Public Funds May Be in Dubai

Summary: President Buhari’s quest for missing Nigerian public funds leads to arrests of 55 prominent Nigerians and judicial agreements with the United Arab Emirates.

official portrait of Senator Shehu Sani, July 23, 2015: Mykelscole, CC BY 2.0, via Wikimedia Commons

Over $200 billion in missing Nigerian public funds are in Dubai, according to statements Jan. 25, 2016, by Shehu Sani, All Progressives Congress Senator from Kaduna Central Zone since March 28, 2015.

Senator Sani brought the allegations to public attention as Senate Committee on Foreign and Domestic Debts chairman and as Senate Committee on Foreign Affairs vice chairman. The allegations came eight days after the signing Jan. 19, 2016, of bilateral agreements with the United Arab Emirates in regard to missing Nigerian public funds. They develop anti-corruption campaigns launched Jan. 18, 2016, by Lai Mohammed as Minister of Information and Culture to Muhammadu Buhari, 15th President since Nov. 11, 2015.

Different figures emerge since Minister Mohammed references 1.34 trillion naira ($6.8 billion) missing between 2006 and 2013.

Minister Mohammed finds four ex-ministers, 15 ex-state governors, and bankers suspect in 7 billion ($35.35 million), 147 billion ($742.42 million) and 524 billion ($2.65 billion) missing. He gives the sobering statistics that the missing naira could have improved education by supporting 4,000 children through college and medical care by building 36 hospitals. He holds that $2.1 billion could have contained Boko Haram seven years ago instead of financing President Goodluck Jonathan’s campaigns in 2011 and in 2015.

Sambo Dasuki, former National Security Advisor being prosecuted for missing Nigerian public funds, indicates that the $2.1-billion diversion took place under direct orders from President Jonathan. Minister Mohammed judges that despite the Republic’s oil- and resource-rich economy “If we don’t kill corruption, corruption will kill Nigeria.”

Senator Sani keeps details away from public attention, other than specifying “APC members, who had their political upbringing in the then ruling Peoples Democratic Party, PDP.” He lists “those who are parading themselves as Buhari’s friends” and are hypocrites since unlike “an enemy … [a] hypocrite derives joy from stabbing one’s back.” He mentions that all suspects will be investigated since “the President does not know friend or relation as far as the fight against corruption is concerned.” He notes Dubai as receiving an “unbelievable amount of monies” for “estates acquisition, purchase of exotic houses and business partnership [sic] in the last 16 years.”

Dubai offers globally lucrative opportunities for “raw cash,” the mobile form that characterizes the over $200 billion in missing monies.

Senator Sani promised attendees and journalists at Monday’s solidarity visit: President Buhari “is going to recover all these monies and assets with the help of UAE.”

Agreements between the Federal Republic of Nigeria and the United Arab Emirates qualify as measures toward apprehension, extradition and prosecution of missing Nigerian public funds perpetrators. The judicial agreement requires both convicted persons transfers and mutual legal assistance on commercial and criminal matters “which includes the recovery and repatriation of stolen wealth.”

Wilson Uwujaren, Economic and Financial Crimes Commission spokesman, states that “the fight against corruption” has 100 million naira ($500,000) misspent by Brigadier General Lawal Jafaru Isa.

Recovery of “mind-boggling” sums from a Treasury left “virtually empty” takes President Buhari to Dubai and back to Nigeria again.

Outgoing Nigerian President Jonathan (right) sits with President-Elect Buhari (left) at incoming president's Inauguration Ceremony in Eagle Square in Abuja, Nigeria, on May 29, 2015: U.S. Department of State, Public Domain (United States government work), via Flickr

Acknowledgment

My special thanks to talented artists and photographers/concerned organizations who make their fine images available on the internet.

Image credits:

Senator Shehu Sani: Mykelscole, CC BY 2.0, via Wikimedia Commons @ https://commons.wikimedia.org/wiki/File:Senator_Shehu_Sani.jpg

"Nigeria: $200bn Stolen Money Stashed in Dubai - Shehu Sani.": allAfrica.com @allafrica via Twitter tweet of Jan. 26, 2016, @ https://twitter.com/allafrica/status/692078331794178048

incoming President Mohammadu Buhari + outgoing President Jonathan Goodluck: U.S. Department of State, Public Domain (United States government work), via Flickr @ https://www.flickr.com/photos/statephotos/18051048039/

For further information:

allAfrica.com @allafrica. 26 January 2016. "Nigeria: $200bn Stolen Money Stashed in Dubai - Shehu Sani." Twitter.
Available @ https://twitter.com/allafrica/status/692078331794178048

Binniyat, Luka. 26 January 2016. “Nigeria: $200Bn Stolen Money Stashed in Dubai – Shehu Sani.” All Africa > Africa/World > Vanguard.
Available @ http://allafrica.com/stories/201601260157.html

Eboh, Camillus; and Akwagyiram, Alexis. 19 January 2016. “Nigerian Minister Says $6.8 Bn of Public Funds Stolen in Seven Years.” Yahoo! News > Reuters.
Available @ https://www.yahoo.com/news/nigerian-minister-says-6-8-bn-public-funds-054447545--sector.html?ref=gs

Faul, Michelle. 18 January 2016. “Nigeria: Minister Alleges $9 Billion Stolen from Economy.” CNSNews > News.
Available @ http://www.cnsnews.com/news/article/nigeria-minister-alleges-9-billion-stolen-economy

Marriner, Derdriu. 28 January 2016. "Nigerian Naira Devaluations Pushed by Economists, Not President Buhari." Earth and Space News. Thursday.
Available @ https://earth-and-space-news.blogspot.com/2016/01/nigerian-naira-devaluations-pushed-by.html

Nwabughiogu, Levinus. 20 January 2016. “Nigeria Signs Agreements with UAE on Recovery of Stolen Funds.” Vanguard Media Limited, Nigeria > News.
Available @ http://www.vanguardngr.com/2016/01/nigeria-signs-agreements-with-uae-on-recovery-of-stolen-funds/

Payne, Julia. 19 January 2016. “Nigeria Fraud Case Puts Buhari’s Anti-Graft Drive in the Dock.” Yahoo! News > Reuters.
Available @ https://www.yahoo.com/news/nigeria-fraud-case-puts-buharis-anti-graft-drive-144153624--sector.html?ref=gs