Ekwerenmadu, Bagudu, Etete, And 331 Others Owns 800 Dubai Properties That Worth N152 Billion

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A former deputy Senate President, Ike Ekwerenmadu, the Kebbi State Governor, Atiku Bagudu were alleged to be among the owners of 800 properties owned by Nigerian politicians in Dubai, United Arab Emirate (UAE).

 

The two prominent politicians were part of the 334 prominent Nigerians including other politicians who own properties Valued at N152 billion stashed in the UAE.

The report was first exposed by an American based Non-governmental Organisation identified as, Carnegie Endowment for International Peace, through its website on Thursday.

The report titled “Dubai Properties” an Oasis for Nigerian Corrupt political Elites”, according to the author, Mathew Page, is based largely on private data compiled by UAE-based real estate and property professionals.

Bagudu is currently the Chairman of the Progressive Governors Forum, a forum of Governors who were elected on the Platform the “All Progressive Congress” with the political mantra of “change”, as part of their parties manifesto before coming to power was to fight corruption in Nigeria to a standstill.

The Federal Government under President Buhari administration had in 2017 signed a memorandum of understanding with the UAE government on, the Judicial Agreements on Extradition, Transfer of Sentenced Persons, Mutual Legal Assistance on Criminal Matters and Mutual Legal Assistance on Criminal and Commercial Matters, which include the recovery and repatriation of stolen wealth.

Other legal instruments between Nigeria and UAE were the Agreement on Mutual Legal Assistance in Criminal Matters;

Agreement on Mutual Legal Assistance in Civil and Commercial Matters and the Agreement on the Transfer of Sentenced Persons.

Also contained in the report was that the Chief looter to Sani Abacha, Bagudu is the owner of the property on the 12th floor of Dubai capital bay tower valued over N1.8 billion.

Bagudu, the Kebbi state governor was the person responsible for stashing Abacha’s loot during his active service as a chief looter, according to Bloomberg report.

Few weeks ago, the same governor nearly took away $100 million dollars from the Abacha loot that was recovered from New-Jersey, United state, claiming was his own part of the share of the loot while presenting a parody court paper.

Meanwhile, Ekwerenmadu, a former Deputy Senate President was linked to eight properties valued at N4 billion excluding those exposed at the United Kingdom.

The investigative research alleged that about 20 former and serving governors, seven former and serving senators, current and former heads of ministries, departments and agencies of government, commissioners and bureau de change operators, own a significant number of the properties.

Other prominent Nigerians who allegedly own properties in Dubai include a former Peoples Democratic Party chairman, Ahmadu Ali; former Kwara State governor, Mohammed Lawal; former petroleum minister, Dan Etete; a former deputy senate president, Ibrahim Mantu and a former managing director of the defunct Oceanic Bank, Mrs Cecilia Ibru.

Others are a former Inspector-General of Police, Tafa Balogun; former chairman of Military Pension Board, Bala Mshelia; former group managing director of the Nigerian National Petroleum Corporation, Ladan Shehu, and a former head of the Petroleum Product Marketing Company, Samuel Okeke, among others.

The report also identified possible use of fronts by prominent Nigerians, including former Delta State governor, James Ibori, adding that about four political associates of the former governor were found to have ties to properties in Dubai.

“One is linked to four Dubai properties purchased for a total of $3.8m (N1.44bn), according to Sandcastles data,” it noted.

A breakdown indicates that 156 politically exposed persons (PEPs) own 226 properties in Dubai; 13 known Nigerian law enforcement agency suspects own 216 properties; 50 PEP-linked business persons own 91 properties while 14 security sector leaders own 71 properties.

The report further linked 69 properties to 35 governors; 16 properties to 45 lawmakers; 25 properties to 16 heads of departments/agencies; 24 to 15 ministers; 13 to NNPC staff members; 13 properties to five Presidency staff and one property to a judge totalling 800 properties.

The report stated, “The 800 Dubai properties linked to Nigerian PEPs are estimated to be worth well over $400m.

This equals roughly two-thirds of the Nigerian Army’s annual budget and over three times the annual budget of the country’s Independent National Electoral Commission.”

The report said the PEPs’ appetite for Dubai property was so greedy that a rapidly increasing group of middlemen now specialise in selling Dubai property to recently elected politicians and newly appointed officials.

Meanwhile, responding to the allegations, Bagudu dismissed the report, saying it had no substance.

The governor, who spoke through one of his aides, Yahaya Sarki, described the report as “one of those online reports which have no substance.”

However, when contacted, former Deputy President of the Senate Ike Ekweremadu, said, “I have said this before, let anybody who finds any property listed against my name that is not in my asset declaration form which I duly submitted to the Code of Conduct Bureau take such a property.’’