Over 800 properties in Dubai, United Arab Emirates, worth $400 million, have been traced to Politically Exposed Persons (PEPs) in Nigeria.
An associate fellow at London-based Chatham House, Matthew Page, revealed this while delivering a paper at a 2-Day Capacity Building for Investigators on Investigating Illicit Financial Flows (IFF), organized by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
Page disclosed that 35 state governors have acquired a total of 69 properties, 5 presidency staff members were controlling 13 properties, 16 lawmakers were in possession of 45 properties, 15 ministers have 25 properties, 158 suspected politicians’ proxies are in control of 226 properties, 14 security sector leaders 71, 50 PEP-linked business persons own 91 properties, 13 Known Nigerian law enforcement agency suspects own 216, 16 heads of department and agency control 25 properties, while 11 NNPC officials own 19; and a judge has one.
He blamed the development on lack of transparency, huge financial flows and inadequate international.
Page further disclosed that Nigerian politicians are spending over $30 million yearly on UK education, which he said was beyond their annual earnings.
