On May 28, 2021

An asset recovery firm, Forensic Assets Investigation and Recovery Services LLC (FAIR), says it has uncovered $69 billion (about N28.3tn) in illegal oil deals by the Nigerian National Petroleum Corporation (NNPC) stuck in American banks.

According to the American firm, the funds are stuck in banks based in Texas. The firm said it could recover all the identified funds if Nigeria agreed to pay its expenses and compensation.

FAIR disclosed this in a confidential memo forwarded to the Special Presidential Investigation Panel for Recovery of Public Property (SPIP), The Punch reported Friday.

According to the report, the funds were believed to have been siphoned from undeclared crude oil sales under the Goodluck Jonathan administration allegedly by the NNPC officials and their collaborators in the Central Bank of Nigeria (CBN).

Nine billion dollars of the total sum was allegedly traced to a bank account linked to late National Security Adviser (NSA), General Andrew Azazi, who died in a plane crash alongside the Governor of Kaduna State, Patrick Yakowa, in 2012.

FAIR’s memo was said to have informed a March 18, 2019 letter written by former SPIP Chairman, Okon Obono-Obla to President Muhammadu Buhari to seek his approval to authorise FAIR to commence the recovery of the funds.

“Mr President, we intend to work together with the Americans in order to secure the recovery of the definite $9bn within 3-5 months they stated and to engage them to see and recover the larger part of the estimated $60bn-$80bn stolen from Nigeria during the oil boom. Also, to engage the NNPC and the CBN in the overall recovery of those funds in the United States.


“Our prayers to the President are: To approve the engagement of the American company to recover the funds and assets in the US and to approve the support of the visiting American firm to integrate software technology in the CBN in order to trace fraud funds.

“To approve the presence of interface offices of the Special Presidential Investigation Panel in NNPC and the CBN. Your Excellency, the immediate recovery of the identified $9bn within the stated timeframe of 3-5 months will totally eliminate borrowing to fund the 2018 budget deficit and sustain the 2019 budget,” the letter was said to have read in part.

However, the matter was said to have been abandoned after President Buhari removed Obono-Obla and directed the Solicitor-General of the Federation and Permanent Secretary, Federal Ministry of Justice, Dayo Apata, to take over the affairs of the SPIP.

https:///fTaxaIUlR8

International thief thief....... by fela comes to mind...

More to come. It's no news. Buhari's government has proven beyond reasonable doubt that they are fantastically corrupt.

You guys are not serious. If you know that its stolen money, why did you guys demand percentage payment for the money to be sent back only to be relooted again.

Return the money if you truly know it's looted from Nigeria

And were here suffering? C our money developing anoda country? He no go beta 4 our bad leaders Amen!

36 state governors alone should have average of N150B kept aside somewhere.

Ministers times 40.
MDAs X 100.

Total it all and see why corruption is an industry in Nigeria.

Una never see anything yet

According to the report, the funds were believed to have been siphoned from undeclared crude oil sales under the Goodluck Jonathan administration allegedly by the NNPC officials and their collaborators in the Central Bank of Nigeria (CBN).

Damn!

If this news is for real...then I accept the notion that Dangote is not the richest man in Nigeria. Him don die go did the money save him? His children are not aware of the money. Why do our leaders keep doing this rubbish. Imagine if. Abacha had invested all his stolen money into human development in Nigeria. Now see general Azazi Died in 2seconds money wasted. This is pure wickedness, if you check azazi's village possible a fishing pot village. $1billion will develop 9 LGA in bayelsa to a very high standard of living. $1billion will likely build bridges connecting major villages in bayelsa. Now imagine $9bill...mehn we should stop glorifying these men including tinubu/obi.

[quote author=cyrilamx post=122392702]On May 28, 2021

An asset recovery firm, Forensic Assets Investigation and Recovery Services LLC (FAIR), says it has uncovered $69 billion (about N28.3tn) in illegal oil deals by the Nigerian National Petroleum Corporation (NNPC) stuck in American banks.

According to the American firm, the funds are stuck in banks based in Texas. The firm said it could recover all the identified funds if Nigeria agreed to pay its expenses and compensation.

FAIR disclosed this in a confidential memo forwarded to the Special Presidential Investigation Panel for Recovery of Public Property (SPIP), The Punch reported Friday.

According to the report, the funds were believed to have been siphoned from undeclared crude oil sales under the Goodluck Jonathan administration allegedly by the NNPC officials and their collaborators in the Central Bank of Nigeria (CBN).

Nine billion dollars of the total sum was allegedly traced to a bank account linked to late National Security Adviser (NSA), General Andrew Azazi, who died in a plane crash alongside the Governor of Kaduna State, Patrick Yakowa, in 2012.

FAIR’s memo was said to have informed a March 18, 2019 letter written by former SPIP Chairman, Okon Obono-Obla to President Muhammadu Buhari to seek his approval to authorise FAIR to commence the recovery of the funds.

“Mr President, we intend to work together with the Americans in order to secure the recovery of the definite $9bn within 3-5 months they stated and to engage them to see and recover the larger part of the estimated $60bn-$80bn stolen from Nigeria during the oil boom. Also, to engage the NNPC and the CBN in the overall recovery of those funds in the United States.


“Our prayers to the President are: To approve the engagement of the American company to recover the funds and assets in the US and to approve the support of the visiting American firm to integrate software technology in the CBN in order to trace fraud funds.

“To approve the presence of interface offices of the Special Presidential Investigation Panel in NNPC and the CBN. Your Excellency, the immediate recovery of the identified $9bn within the stated timeframe of 3-5 months will totally eliminate borrowing to fund the 2018 budget deficit and sustain the 2019 budget,” the letter was said to have read in part.

However, the matter was said to have been abandoned after President Buhari removed Obono-Obla and directed the Solicitor-General of the Federation and Permanent Secretary, Federal Ministry of Justice, Dayo Apata, to take over the affairs of the SPIP.

https:///fTaxaIUlR8[/quote


Kai. Na wa

THEY SHOULD USE THE RECOVERED MONEY TO SETTLE ALL LOANS COLLECTED BY BUHARI REGIME SINCE EIGHT YEARS NOW FROM2015 TO 2023.BASTARDS

PARADIZEPRIEST:
THEY SHOULD USE THE RECOVERED MONEY TO SETTLE ALL LOANS COLLECTED BY BUHARI REGIME SINCE EIGHT YEARS NOW FROM2015 TO 2023.BASTARDS

Keep dreaming.
I think by now everyone should know what will happen to the money when recovered.

Op where is the source?

Lol

psucc:
More to come. It's no news. Buhari's government has proven beyond reasonable doubt that they are fantastically corrupt.

I hold no brief for PMB, but the said money was during GEJ's regime. To be sincere, the amount of money wey them chop for GEJ regime no be small thing.

It's more than 28 trillion, they should tell us the truth because I know it's more than 500 trillion. 9ja