By Sunday Okobi

Fresh details have emerged on the case filed against Asiwaju Bola Tinubu by the Code of Conduct Bureau (CCB) for allegedly operating foreign accounts while serving as governor of Lagos State from 1999 to 2007.

Last week, CCB charged Tinubu before the Code of Conduct Tribunal (CCT), alleging that he operated and maintained 10 foreign accounts in the United States of America and United Kingdom while in office.

THISDAY learnt Wednesday that the total amount in the accounts, most of which are domiciled with HSBC in London, is a little over £30,000 (about N7.5 million).

His own accounts contained £21,995, while the one he jointly operated with his wife had a balance of about £10,000.

The Fifth Schedule Part I (3) of the 1999 Constitution (as Amended) says: “The President, Vice-President, Governor, Deputy Governor, Ministers of the Government of the Federation and Commissioners of the Governments of the States, members of the National Assembly and of the Houses of Assembly of the States, and such other public officers or persons as the National Assembly may by law prescribe shall not maintain or operate a bank account in any country outside Nigeria.”

Sources in the know said Tinubu did not “operate” or “maintain” the accounts and would argue that he had not contravened any law.

“Technically, even though he might not have officially closed the accounts when he was governor, he neither maintained nor operated them. The intention of the framers of the law was to prevent money laundering through operation of foreign accounts. If there is no deposit on an account, it cannot be said to be in operation. More importantly, the Bureau is not saying Tinubu used the accounts to perpetrate any crime, such as money laundering and fraud,” the source said.

He argued that the CCB case was “purely political” judging by the failure of the body to disclose the actual amount involved, thereby creating the impression that some serious crime had been committed.

“CCB deliberately kept quiet on the necessary details because it would sound ridiculous to tell the world that the Federal Government would be wasting so much of tax payers’ money on a case that has no meaning,” he added.

Some of the accounts being cited by the Bureau actually belong to Tinubu’s children with varying balances of between £700 and £1000, THISDAY learnt.

“Anyone who reads the story would think Tinubu has been accused of stealing money or laundering billions of naira when, in fact, only £31,000 is in the accounts. Instructively, no fresh deposit was made between 1999 and 2007 when he was governor. CCB can never argue that the accounts were used to siphon money or perpetuate any financial or economic crime.

“It is all the more curious that the Bureau would want to try Tinubu over accounts that do not belong to him. How can you charge him using his children’s accounts as evidence, accounts that were opened long before he became a governor? Does the Code of Conduct say children of public officers who are abroad should close their foreign accounts too?” he asked.

Tinubu’s associates, who spoke with THISDAY Wednesday, maintained that the case, which had been brought up in the past, was “well timed” ahead of the forthcoming governorship election in Kogi State as well as four other states of the federation.

“The PDP government is very much aware of the role Tinubu, as the National Leader of the biggest opposition party in the country (Action Congress of Nigeria), is playing in the electoral humiliation the ruling party has been receiving in many states. The strategy is to strike the shepherd so that the sheep will scatter. This is all about the forthcoming elections. Let’s see how far the PDP can go,” he said.

It is also believed in Tinubu’s camp that with ACN now the dominant party in the South-west and with the role the party played in defeating the South-west Peoples Democratic Party (PDP) candidate for the speakership of the House of Representatives, “it was just a matter of time before the PDP would come after him”.

An official of CCB, who spoke to THISDAY Wednesday night, dismissed the political undertone being alleged, maintaining that there was no witch-hunting involved.

He said: “The Code of Conduct Bureau and Tribunal Act, Cap 56 LFN, 1990, prohibits public officials from operating foreign accounts. For the avoidance of doubt, the law says if you had the accounts before occupying a public office, you have to close them down. There is nothing political about that.”

The tribunal has summoned Tinubu to appear before it on Wednesday next week.

Tinubu, who has repeatedly denied any wrongdoing, was first charged before the tribunal on 24th April, 2007. The trial was, however, stalled for reasons not made public but believed to be political.

He was said to have failed to declare the foreign bank accounts in the assets declaration form CCB-1 which he submitted to the CCB when he was elected governor.



http://www.thisdaylive.com/articles/revealed-how-tinubu-s-31-000-attracted-code-of-conduct-bureau/98494/

It is just like the 2011 general elections in the south west, PDP will lose this one.

BEAF and Co, comments pls !!!!!!!!!!!!!!!!!!!!

ASIWAJU 4 LIFE,

This is too funny, unfortunately, these corrupt and useless clowns with real stolen money are making a mockery of an already lousy system, even wasting resources on a sham tribunal.