Over 800 properties worth $400 million in Dubai, United Arab Emirates (UAE) have been traced to Politically Exposed Persons (PEPs) in Nigeria. Disclosing that 35 state governors have acquired a total of 69 properties, Page noted that five presidency staff members were controlling 13 properties, while 16 lawmakers are in possession of 45 properties. Page, who blamed lack of transparency, huge financial flows and inadequate international safeguard for the development further disclosed that Nigerian politicians are spending over $30 million annually on UK education, which he said was beyond their annual earnings. “We are already working with the FIRS and getting a lot of tax evaders and defaulters into the nation’s tax net. One of the takeaways from here is the kind of question an investigator needs to ask in tracking IFFs and money laundering.”

Source: The Guardian April 27, 2021 19:07 UTC