• The Membership Club
  • #EndSARS Dashboard
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
Thursday, September 28, 2023
Premium Times Nigeria
No Result
View All Result
  • Home
  • 2023 Elections
    • Presidential
    • Gubernatorial
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
    • Gender
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Home
  • 2023 Elections
    • Presidential
    • Gubernatorial
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
    • Gender
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Special Reports and Investigations
    • Health Specials
    • Features and Interviews
    • Multimedia
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Special Reports/Investigations
    • Features and Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
No Result
View All Result
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
Abubakar Bagudu

Abubakar Bagudu

Tinubu’s ministerial nominee helped Abacha steal Nigeria’s billions

Both men were not always allies. In fact, at the time Mr Bagudu was helping Mr Abacha steal Nigeria dry, Mr Tinubu was financing some political and civil society actors demanding the dictator's exit.

byKabir Yusuf
August 3, 2023
Reading Time: 3 mins read
10

President Bola Tinubu has nominated as minister, Atiku Bagudu, the man who helped late dictator Sani Abacha steal and launder billions of dollars belonging to Nigeria.

Mr Bagudu, 61, was a federal lawmaker before he served as governor of northwestern Kebbi State for eight years. He is a household name in the All Progressive Congress (APC) and a political ally of the president.

Both men were not always allies. In fact, at the time Mr Bagudu was helping Mr Abacha steal Nigeria dry, Mr Tinubu was financing some political and civil society actors demanding the dictator’s exit. Mr Tinubu had to go into exile due to fears the dictator wanted to kill or imprison him.

However, the formation of the APC in 2013 and its eventual electoral success in the 2015 general elections brought both men together, a relationship that was solidified when Mr Tinubu sought the APC presidential ticket last year.

President Bola Tinubu
President Bola Tinubu

On Wednesday, Mr Tinubu sent the name of Mr Bagudu and 18 others to the Senate for confirmation as ministers.


FIRS

Mr Bagudu had since 2003 admitted to financial irregularities when he agreed to return about $163 million to Nigeria to avoid extradition to Jersey from the US.

Since getting into the corridors of power in 2011 as a senator, Mr Bagudu has remained active in politics. Last year, he played a major role in the APC’s selection of Mr Tinubu as its presidential candidate for the 2023 presidential elections. Mr Bagudu was also a key player in Mr Tinubu’s presidential campaign council.

While Messrs Tinubu and Bagudu’s political romance continues, the Nigerian government is still trying to recover some of the insane amounts of money that Mr Abacha stole from Nigeria, most with the connivance of Mr Bagudu.

TEXEM Advert

The systematic plunder of Nigeria by the Abacha family with the help of Mr Bagudu is reckoned to be one of the worst cases of kleptocracy and offshore shenanigans in the world.

PREMIUM TIMES reported that between 1998, when Mr Abacha suddenly died, and 2020, 3.6 billion U.S. dollars have been recovered from the Abacha family and Mr Bagudu, now a minister-designate.

The money-laundering operations Mr Bagudu ran on behalf of Mr Abacha are well-documented in suits filed in the United States and the Bailiwick of Jersey, a British Crown dependency in the Channel Islands.

The $23.5 million Abacha loot recovered last year by the UK’s National Crime Agency (NCA) was forfeited by Mohammed Abacha and Mr Bagudu’s offshore company Mecosta Securities Inc.

Former Head of State, Sani Abacha
Former Head of State, Sani Abacha

While he was serving as governor of Kebbi state, the United States and Jersey authorities repatriated 308 million U.S. dollars stolen and laundered by Mr Bagudu, PREMIUM TIMES reported.

Similarly, the 163 million U.S. dollars recovered from Jersey in 2003 directly involved Mr Bagudu, who then negotiated a deal with the US and Jersey to return the funds to Nigeria in exchange for Jersey’s withdrawal of an extradition request and his free return to Nigeria.

He spent six months in American federal prison in Houston while awaiting extradition to Jersey. The deal to return the $163 million was to avoid that extradition.

Kogi AD


READ ALSO: UPDATED: Tinubu forwards fresh list of 19 ministerial nominees to Senate, Oyetola, Bagudu, Matawalle, Lalong on list (FULL LIST)


It was gathered that Mr Bagudu reached a settlement with the Olusegun Obasanjo administration in 2003 to drop all outstanding civil and criminal claims against him, according to US court filings seen by PREMIUM TIMES.

Mr Bagudu was involved with the offshore front companies and bank accounts – from the British Virgin Islands to Ireland, Switzerland, England, Guernsey, and Jersey – used to steal and launder billions of dollars by the Abacha regime. He was either a director, signatory on accounts or prime beneficiary of such companies, according to US court documents and incorporation filings from the Pandora Papers leaks.

Share this:

  • Twitter
  • Facebook
  • WhatsApp
  • Telegram
  • LinkedIn
  • Email
  • Print

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate





TEXT AD: Call Willie - +2348098788999






PT Mag Campaign AD

Previous Post

FIBA Women’s AfroBasket: D’Tigress extend unbeaten streak, to face hosts Rwanda in semifinal

Next Post

Nigerian military yet to receive order for intervention in Niger – DHQ

Kabir Yusuf

Kabir Yusuf

More News

Douglas Ogbankwa. Credit: @KcUzoka on X (Twitter)

Lawyer recounts how he was assaulted at SSS office

September 28, 2023
L-R: Chinenye Ogwumike, America's president Joe Biden and, Osagie Imasogie.

Biden appoints Nigerian Americans to Advisory Council

September 28, 2023
Ondo Deputy Governor, Lucky Aiyedatiwa (PHOTO CREDIT: @LuckyAiyedatiwa)

Impeachment: Lawyers disagree as Ondo lawmakers ignore court order on move against deputy governor

September 28, 2023
Covenant University used to illustrate the story. [PHOTO CREDIT: Campus Dairy]

Ranking: Two Nigerian institutions make top 1,000 list of global universities

September 28, 2023
Former President Olusegun Obasanjo speaking at a function in Lagos [PHOTO: NAN]

Apologise to Oyo Obas, Afenifere tells Obasanjo

September 28, 2023
Alimosho General Hospital,(PHOTO CREDIT: Alimosho News)

Brain Drain: In one week three doctors die in Lagos hospital, colleagues kick

September 28, 2023
Read All Comment

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game

Projects & Partnerships

  • AUN-PT Data Hub
  • #EndSARS Dashboard
  • Parliament Watch
  • Panama Papers
  • AGAHRIN
  • #PandoraPapers
  • #ParadisePapers
  • #SuisseSecrets
  • Our Digital Network
  • Advert Rates
  • About Us
  • Contact Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2023 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • 2023 Elections
    • Presidential & NASS
    • Gubernatorial & State House
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Gender
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • COVID-19
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Investigations
    • Investigations
    • Interviews
    • Multimedia
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • #EndSARS Dashboard
  • AUN-PT Data Hub
  • Projects
    • Panama Papers
    • Paradise Papers
    • SuisseSecrets
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • DONATE
  • About Us
  • Advert Rates
  • Dubawa NG
  • Careers
  • Digital Store
  • Contact Us

All content is Copyrighted © 2023 The Premium Times, Nigeria

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist