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Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg - Politics - Nairaland

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Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by IBBG(m): 8:52am On Jun 22, 2022
Graft Allegations Dog Nigeria’s Presidential Hopefuls

Tinubu and Abubakar long dogged by corruption accusations

Corruption fight won’t feature on campaign trail, analysts say


The fight against corruption has been a top campaign issue in Nigeria’s last two presidential elections, but the history of graft allegations surrounding the two main candidates means neither is likely to raise it in the run-up to February’s vote.

Front-runner Bola Tinubu, who secured the ruling party’s nomination earlier this month, was being investigated by the country’s anti-corruption agency as recently as last June. Three decades ago he fought a lawsuit in which the US government accused him of laundering the proceeds of heroin trafficking and eventually reached a settlement.

Atiku Abubakar, his chief rival, brought tens of millions of dollars of “suspect funds” into the US when he was Nigeria’s vice president in the 2000s, according to a US Senate report, and was implicated in a bribery case that resulted in the imprisonment of an American congressman. Neither episode resulted in charges against Abubakar.

Spokesmen for Tinubu and Abubakar didn’t respond to requests for comment.

The next president will face a daunting challenge to turn around Africa’s largest economy. Falling oil production threatens Nigeria’s place as the continent’s biggest crude producer, inflation is soaring and more than half of the working-age population are either unemployed or underemployed.

The local currency has depreciated steeply under outgoing President Muhammadu Buhari, falling from around 220 naira to the US dollar on the widely-used parallel market when he was first elected in early 2015 to about 600 naira this week.

Nigeria vies with India as the country with the highest number of people living in extreme poverty despite having a seventh of the population. Meanwhile, secessionists, Islamist militants and armed criminal gangs terrorize large swathes of territory.

Efforts to restore security and fix the economy alone will likely fall short because there’s an unavoidable connection between financial graft and government dysfunction in Nigeria, said Leena Koni Hoffmann, an associate fellow at Chatham House in London. Corruption “hollows systems out and cripples them from the inside,” she said.

Contrast with Buhari

The race will see the two wealthy septuagenarians mobilize impressive political machines built over more than 30 years pursuing power in Africa’s most-populous country. Voters in Nigeria are often offered cash, food or clothing to persuade them to cast their ballots for particular candidates.

On the eve of the last election in 2019, two armored bank vans were photographed driving into Tinubu’s home. “If I have money to spend, if I like, I give it to the people for free of charge as long as it’s not to buy votes,” he told reporters when asked what the vehicles were transporting.

Tinubu and Abubakar have cultivated deep systems of political patronage, according to Hoffmann. Both men excel at “engineering and expanding political networks through co-optation, through channeling and redistributing money and positions and favors,” she said.

Tinubu, 70, who lives in Lagos’s wealthiest neighborhood, says he made his fortune before going into politics by investing well and working as an accountant for companies including Deloitte LLP. Abubakar, 75, who splits his time between Nigeria and Dubai, spent two decades working for the government’s customs department and co-founded a large logistics and oil services firm that has operated concessions at Nigerian ports.

Their lifestyles contrast sharply with Buhari, an austere 80-year-old former general who keeps a herd of cattle at his ranch in the far north of Nigeria and briefly ruled the country as a military dictator nearly 40 years ago. He was swept to power in 2015 promising to eliminate the corruption that had flourished under the previous administration.

While Buhari insists he has made some headway in reducing graft, Clement Nwankwo, executive director of the Policy and Legal Advocacy Centre in Abuja, said he has “failed woefully”. Still, corruption is likely to take a back seat this election to more pressing issues, particularly “the incredible levels of insecurity across the country and the rise in poverty,” he said.

Decades of Investigations

Tinubu won the ruling All Progressives Congress party’s primary in a landslide on June 8. A former two-term governor of Lagos state first elected in 1999 and the most powerful politician in southwestern Nigeria, he has handpicked his three successors and been dogged by allegations of lawbreaking for decades.

As of last June, the Economic and Financial Crimes Commission had an open investigation into Tinubu, the agency’s chairman, Abdulrasheed Bawa, told ThisDay newspaper at the time, without specifying what it was scrutinizing. An EFCC spokesman didn’t respond to questions about whether the probe is still active.

Tinubu is also accused in an ongoing Nigerian high court case of secretly controlling the company that handles Lagos state taxes and is entitled to take a 10% cut of what it collects. It was awarded the contract while Tinubu was governor.

The firm’s founder sued Alpha Beta Consulting LLP and Tinubu in June 2021, alleging the company had wired out millions of dollars in “suspicious monetary transfers” and denied him his share of profits for more than a decade. The plaintiff and ABC are currently discussing an out-of-court settlement.

A spokesman for Tinubu, who has not participated in the talks, told Bloomberg in March that the allegations are “unsubstantiated.”

Revenue raised by the Lagos government rose sharply during Tinubu’s tenure to 83 billion naira (about $690 million at the time) from less than 15 billion naira when he took office. In 2020, it was almost 420 billion naira (about $1.1 billion at the time), more than three times higher than the next-best performing of the country’s 36 states.

In July 1993, when Tinubu briefly served as a Nigerian senator, the US government filed a forfeiture lawsuit in Chicago against bank accounts in his name, claiming there was “probable cause” to believe they held the proceeds of heroin dealing. The case followed a probe by the Internal Revenue Service and other agencies into a trafficking network involving Nigerian suppliers.

The IRS secured warrants in January 1992 to seize almost $2 million, according to court filings. While living in Chicago between 1989 and 1991, Tinubu had deposited more than $1.8 million into one of the accounts, before transferring large sums to another bank, according to the US government’s complaint. While disputing the US’s reason for targeting the accounts, Tinubu settled in September 1993, agreeing to give up $460,000 to the US government in exchange for the release of the rest of the money. Tinubu wasn’t indicted over the matter.

Abubakar is the main opposition Peoples Democratic Party’s candidate. Nigeria’s vice president from 1999 to 2007, he has run in all four subsequent elections. Abubakar came second when Buhari was re-elected four years ago -- and during that campaign was granted a temporary suspension of a US travel ban connected to bribery allegations because he had a reasonable chance of winning, according to a person familiar with the matter.

A report published in 2010 by the US Senate’s Permanent Subcommittee on Investigations said one of Abubakar’s wives helped her husband bring more than $40 million in “suspect funds” into the US while he was Nigeria’s vice president, including at least $1.7 million in bribes paid by Siemens AG. Abubakar and his then spouse previously have denied any wrongdoing.

Former US Representative William Jefferson was sentenced to 13 years in prison in 2009 for taking bribes from American companies interested in doing business in Nigeria and Ghana. In July 2005, Jefferson told a cooperating witness that then-Vice President Abubakar had also agreed to accept a bribe in exchange for his assistance, according to the Louisiana congressman’s indictment. Abubakar has previously rejected the allegations, saying he had no personal or business relationship with Jefferson.

Abubakar’s hopes of succeeding President Olusegun Obasanjo in 2007 were torpedoed when the EFCC declared him unfit to hold public office and a Nigerian Senate panel recommended his prosecution for allegedly diverting government funds. Abubakar denied the allegations, saying he was the victim of political persecution.

Both contenders will focus on issues other than corruption while campaigning, said Hoffmann. “They know it’s not part of their political image,” she said.

https://www.bloomberg.com/news/articles/2022-06-22/presidential-hopefuls-in-nigeria-can-t-shake-graft-allegations?utm_medium=social&cmpid%3D=socialflow-twitter-africa&utm_content=africa&utm_source=twitter&utm_campaign=socialflow-organic

25 Likes 4 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by DMerciful(m): 8:57am On Jun 22, 2022
Let's vote Obi and have a respected government worldwide

431 Likes 32 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by VoteTinubu2023: 9:00am On Jun 22, 2022
Even the supporters of the man whose name was fingered in relation to a Pandora tax haven scandal will come here to come and gloat. The same man who chose to be a Vice Presidential candidate in 2019 to one of the most notorious thieves ever in Nigeria political History. The same man whose aides were caught with millions of naira in cash in far away Lagos for the payment of contractors. The same man whose House of Assembly members impeached for several cases of corruption.

Anyway, it was stated clearly in the above article : "Tinubu was never indicted"



Remember to Vote Tinubu 2023.

Vote APC in 2023 Presidential elections

God bless Asiwaju Bola Ahmed Tinubu

102 Likes 26 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by WATCHOVER(m): 9:01am On Jun 22, 2022
Unfortunately Nigerians only glorify thieves.
Nigeria is suffering because it citizens fail to do the right thing.

153 Likes 7 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by Frigga13: 9:01am On Jun 22, 2022
Nigeria Pdp...
from top to bottom ... top to bottom

Power to the people
PDP!!

North 2023

3 Likes 1 Share

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by booblacain(m): 9:02am On Jun 22, 2022
This is the structure they are boasting about.

96 Likes 1 Share

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by NaijaRoyalty(m): 9:04am On Jun 22, 2022
And some useless Tinubu slaves want us to vote a well known international thief so that Nigeria will continue to run in circle, Na god go punish una

167 Likes 11 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by gtrust: 9:04am On Jun 22, 2022
Peter Obi to the world!
Let’s be Obidient

Even Bloomberg is Obidient

215 Likes 13 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by IBBG(m): 9:04am On Jun 22, 2022
How will the world take us serious if we vote this kind of individuals into power.

86 Likes 3 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by Frigga13: 9:04am On Jun 22, 2022
Is there any government of saints on earth?

Is Obi a Saint ?

Or we’ve forgotten his Tinubu kind of Waka in the USA and person that serve term for him?

The very anambra man that he picked as governorship candinate in 2029? Wey Dey live for Onitsha North..

I no call names ... but is an open secret ..


Power to the people
North 2023

3 Likes 1 Share

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by seunmsg(m): 9:05am On Jun 22, 2022
While living in Chicago between 1989 and 1991, Tinubu had deposited more than $1.8 million into one of the accounts, before transferring large sums to another bank, according to the US government’s complaint. While disputing the US’s reason for targeting the accounts, Tinubu settled in September 1993, agreeing to give up $460,000 to the US government in exchange for the release of the rest of the money. Tinubu wasn’t indicted over the matter.

The fact that he got most of the money back from the US government and was not even indicted says it all.

476 Likes 9 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by NaijaRoyalty(m): 9:06am On Jun 22, 2022
seunmsg:
While living in Chicago between 1989 and 1991, Tinubu had deposited more than $1.8 million into one of the accounts, before transferring large sums to another bank, according to the US government’s complaint. While disputing the US’s reason for targeting the accounts, Tinubu settled in September 1993, agreeing to give up $460,000 to the US government in exchange for the release of the rest of the money. Tinubu wasn’t indicted over the matter.

Oga leave story , The world know Tinubu as an international thief

Bloomberg is an international media and even in Chicago, Tinubu is known as a thief

We won't reinforce a thief like Tinubu in 2023 , Never

112 Likes 7 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by Jking20(m): 9:10am On Jun 22, 2022
There's no saint in politics, know this and know truth.

The only thing we are trying to have is someone irrespective of his corrupt mind, still has conscience to cater and elevate the millions of Nigeria population out of poverty and hardship that we are experiencing now.

23 Likes 2 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by Nobody: 9:11am On Jun 22, 2022
If Nigerians make the mistake of allowing any of these 2 Criminals to succeed in seizing power, then I will by all means support the break up of Nigeria because it will show that as one, we are allergic to development!

These two criminals will be in jail if Nigeria is a country where there is sanity and rule of law!

Atiku's partner in the heinous crimes against Nigeria is already in jail in the United States! He was even banned from entering that country because of his corruption! T

It's the same story with Tinubu, he has so primitively accumulated wealth that would have been used to make life better for Lagosians!

How would such criminals be campaigning to rule Nigeria?
Are we cursed

29 Likes 1 Share

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by APCnaPDP: 9:17am On Jun 22, 2022
According to this report, in just two years between 1989-1991, Tinubu already made his mark in the USA on drug dealings. Is he not wonderful?

59 Likes 6 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by APCnaPDP: 9:18am On Jun 22, 2022
DMerciful:
Let's vote Obi and have a respected government worldwide

Vote Obi in 2027, he won’t win in 2023.

7 Likes 3 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by IBBG(m): 9:18am On Jun 22, 2022
Assetinvestor:
If Nigerians make the mistake of allowing any of these 2 Criminals to succeed in seizing power, then I will by all means support the break up of Nigeria because it will show that as one, we are allergic to development!

These two criminals will be in jail if Nigeria is a country where there is sanity and rule of law!

Atiku's partner in the heinous crimes against Nigeria is already in jail in the United States! He was even banned from entering that country because of his corruption! T

It's the same story with Tinubu, he has so primitively accumulated wealth that would have been used to make life better for Lagosians!

How would such criminals be campaigning to rule Nigeria?
Are we cursed
Brother I weak. With the kind of revenue accruing to Lagos, it should have been the economic capital of Africa. The potential of Lagos is been eaten by kleptomaniacs but yet we are praising them like the best thing since sliced. Chai who Bewitched Nigerians? Are we allergic to good things? God pls help us

37 Likes 1 Share

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by kozmokaz(m): 9:31am On Jun 22, 2022
VoteTinubu2023:
Even the supporters of the man whose name was fingered in relation to a tax haven scandal will come here to come and gloat. The same man who chose to be a Vice Presidential candidate in 2019 to one of the most notorious thieves ever in Nigeria political History.

Anyway, it was stated clearly in the above article : "Tinubu was never indicted"



Remember to Vote Tinubu 2023.

Vote APC in 2023 Presidential elections

God bless Asiwaju Bola Ahmed Tinubu

Obi de torment you for dream ?

23 Likes

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by Vaughanlanrewaj: 9:33am On Jun 22, 2022
Talk is cheap. This is a rehash of the lies and allegations peddled by people who hate Asiwaju Tinubu because he is not from their Igbo tribe and their religion.

There is a puerile tone of stereotype misrepresentation of African leaders by the writer and the Clement Nwankwo quoted in the article as well (obviously deliberate lack of knowledge, fairness and objectivity made the writer, who is not a Nigerian, choose her resource persons from the Igbo tribe that mostly hate Tinubu because they see him as the one standing between their tribe and the much-coveted Nigeria Presidency) make the article suspicious and tainted with the allegations and fake news peddled mostly by the politically weak Tinubu-hating folks from the Igbo tribe.

In reality; a supposedly advanced US could elect a con man and IndecentStar client Mr Donald Trump as President and Russians elect a Putin as President to be one of the richest Presidents in the world and UK elected a Tony Blair, pandora papers corruption scandal tainted UK's former PM Tony Blair (and Peter Obi) yet the foreigner made a war tested decorated General like President Buhari seem as a mean feat.

If you like use pseudonyms or proxies to keep saying same lies a billion time, you will still lose.

Asiwaju Tinubu earned his position on merit and it is because of how he served meritoriously. His legacies are verifiable and stand till date.

Insha Allah, come 2023, patriotic Nigerians will elect Asiwaju Tinubu.
Asiwaju Lokan. Vote Tinubu as President. He is the most capable and most patriotic among all the aspirants.

13 Likes 6 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by NOETHNICITY(m): 9:46am On Jun 22, 2022
This bloomberg baaaddddd
Them refused to recognize other aspirants. Chaiiiiii

3 Likes

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by flamingREED(m): 10:10am On Jun 22, 2022
The tsunami will be cataclysmic!

1 Like

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by IBBG(m): 11:10am On Jun 22, 2022
Whom you support in this election is a reflection of your personality. Only a thief will support a thief

35 Likes 2 Shares

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by chukwuibuipob: 12:01pm On Jun 22, 2022
sad
Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by Throwback: 12:02pm On Jun 22, 2022
While disputing the US’s reason for targeting the accounts, Tinubu settled in September 1993, agreeing to give up $460,000 to the US government in exchange for the release of the rest of the money. Tinubu wasn’t indicted over the matter.

447 Likes

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by ogbuefi677(m): 12:02pm On Jun 22, 2022
Imagine how foreign press will be hammering us that we have a president with a drug problem if Tifnubu mistakenly becomes president?

13 Likes

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by FalseProphet1(m): 12:02pm On Jun 22, 2022
sad

1 Like

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by Stanislause94: 12:02pm On Jun 22, 2022
Ok
On Peter Obi’s manhood I stand gidigba!!!

7 Likes

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by OluwafuntoAK(f): 12:03pm On Jun 22, 2022
The American Lady who regained her senses 3 days later in Nigeria. (THE TRUTH)


https://www.youtube.com/watch?v=-X0Mx-mJBEs
Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by datola: 12:03pm On Jun 22, 2022
Tinubu settled in September 1993, agreeing to give up $460,000 to the US government in exchange for the release of the rest of the money. Tinubu wasn’t indicted over the matter.

Noted.

The news only talked about Tinubu and Atiku. No mention of Obi

7 Likes

Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by Btruth: 12:03pm On Jun 22, 2022
Obidient boy nko?
Re: Nigeria's Presidential Candidates And Their Corruption Allegations - Bloomberg by html14java(f): 12:04pm On Jun 22, 2022
I'm here to make common sense.

8 Likes

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Tinubu: APC Asks Election Tribunal To Dismiss Obi, Lp’s Petition, Gives Reasons / AMAECHI REACTS: Trashes All The Allegations Against Him / Police Disperse Protesters In Lagos With Teargas, Arrest Several

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