The Economic and Financial Crimes Commission (EFCC) has insisted that Vice President Atiku Abubakar’s son-in-law, Abdullahi Babalele’s, was arrested for money laundering.
Many had queried the timing of the arrest, which coincided with the start of the Peoples Democratic Party (PDP) candidate’s legal battle against President Muhammadu Buhari’s election.
The Nation reported on Wednesday that Babalele is under investigation for alleged laundering of €150million.
Babalele was released on bail on Tuesday after days of interrogation. His passport was, however seized by the EFCC.
But Mr. Uyi Giwa-Osagie (Atiku’s lawyer) is still in custody. The agency said about €67,950,000 of the €150m has been traced to the accounts of him, Babalele, two slush firms and two Bureau De Change operators.
Of the €67.9m, Uyi’s account received 26,050,00million Euro between January 9th and 28th, 2019. Babalele is expected to account for 41,900,000 Euro.
Meanwhile, the EFCC has released more details of transactions involving Osagie.
A document said: “On receipt of this intelligence the team booked to Lagos Island market and arrested two BDC operators namely: Abdullahi Shehu who works with Abdullahi Munaciki of Hasbunallahu BDC, Abuja and Lawal A. Abdullahi of Three Brother BDC.
“Also the team recovered the said $1.6million USD but already $141,000.00 USD had been exchanged to Naira at N358/ per dollar which amounted to N50,500,000.00 while the balance of $1,459.000.00 USD could not easily be exchanged due to the Naira scarcity in the market.

”Investigation carried out on the accounts of Guernsey Trust Company Nig Ltd reveals that various transfers in millions of dollars and cash payments were made to various individuals and companies.”

More details from the source https://area.com.ng/index.php/forum/thread/218/efcc-releases-bank-etails-of-transactio-between-atiku-son-in-law-and-the-la/

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