Bureau de change operators and other suspects allegedly involved in the laundering of €150m (about $169 million) have told the Economic and Financial Crimes Commission how Atiku Abubakar’s lawyer, Uyiekpen Osagie-Giwa, and the ex-Vice-President’s son-in-law, Abdullahi Babalele, used an offshore firm, Intels West Africa, and shell companies to launder millions of dollars, according to Punch.

Osagie-Giwa and Babalele, who have been arrested by the EFCC, allegedly attempted to use money to induce voters to vote Atiku, who represented the Peoples Democratic Party in the February 23 presidential poll.

Following an intelligence report that some certain politicians and their associates were attempting to convert huge foreign currencies into naira to influence the elections, the EFCC set up a special team to monitor the activities of bureau de change operators in the country.

According to reports, the team thereafter made contacts with major BDC companies and got information that $1.6m brought from Abuja had been given to a popular bureau de change operator on Lagos Island identified as Lawal Abdullahi of Three Brothers BDC for the purpose of converting same to naira.

Our correspondent learnt the EFCC officials arrested two BDC operators, Abdullahi Shehu, working with Abdullahi Munaciki of Hasbunallahu BDC, Abuja, and Lawal Abdullahi of Three Brothers.

It was learnt that the team recovered the said $1.6m, but $141,000 had already been exchanged, while the balance of $1.459,000 could not be exchanged due to naira scarcity in the market.

Further investigations regarding the ownership as well as the source of the money revealed that Hasbunallahu BDC, who is also the owner of Clean and Integrity Services, received three transfers amounting to $5m on February 1, 4 and 14, 2019 from Guernsey Trust Company Nigeria Limited, an investment company being managed by Giwa-Osagie in trust.

The preliminary report of the investigation dated March 1, read, “On February 1, Abdullahi Munaciki received a transfer of $500,000 in his GTB dollar account named, Clean & Integrity Services Ltd., account number, 325/391103/2/1/0. The transfer came from Giwa-Osagie.

Read more at: https://www.primepost.ng/2019/03/06/report-atikus-lawyer-son-in-law-used-intels-west-africa-firms-to-launder-e150m/

All of them na thieves

That was a near miss for Nigeria. Saved by sheer luck.

I imagine an Atiku presidency and I develop goose bumps.

Can't imagine the kind of looting that would have taken place if Atiku had been our President

Story as usual

Alhaji 'I only earn N20 million a year' aka Atikulooter is laundering money by the truckload?
Wonders shall never end

Peoples Democratic Party (PDP) presidential candidate Atiku Abubakar, believed to be a multi-billionaire has declared a paltry yearly personal income of N20 million.

Source: https://www.vanguardngr.com/2018/10/atiku-declares-paltry-n20m-yearly-income/

Say no to #AtikulooterCONtinua
Say no to #Lootocrats

EFCC we are still waiting for your say on 2 bullion van of money Tinubu publicly said he own.

They are all thieves even buhari is also a thief

NextGovernor:
Another 4 years of nonsense, senseless and stupid news. EFCC is just a joke and thats why they hardly win criminals cases during this Buhari tenure.


ery lazy set of people who can't take time to investigate. How can you arrest someone before investigation?

Did you actually read the article before posting your asinine comment ?
Then again, perhaps you did and simply lack comprehension skills...

EFCC set up a special team to monitor the activities of bureau de change operators in the country

It was learnt that the team recovered the said $1.6m, but $141,000 had already been exchanged, while the balance of $1.459,000 could not be exchanged due to naira scarcity in the market.

Further investigations regarding the ownership as well as the source of the money revealed that Hasbunallahu BDC, who is also the owner of Clean and Integrity Services, received three transfers amounting to $5m on February 1, 4 and 14, 2019 from Guernsey Trust Company Nigeria Limited, an investment company being managed by Giwa-Osagie in trust

How much Did APC, and tinubu squander. There is no clear difference BTW PDP and APC, one is Nepa and the other is Phcn.

Good. Intels about to receive govt hammer for good.

Nobody should shout political witch hunt oh. Any company used for fraudulent and criminal acts will be severely dealt with.

.