BREAKING: Buhari’s Government Hires US Firm To Recover Illicit Funds Linked To Atiku, Fayose, Others

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Buhari’s Government hires US Firm to Recover stolen funds from Atiku, Fayose, Obanikoro

Ejes Gist Newspaper reports that the federal government currently led by Muhammadu Buhari has contracted the services of a company based in the United States in order to recover illegal funds that have been linked to the account of Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP).

Ayodele Fayose, a former governor of Ekiti, and Ambassador Musiliu Obanikoro, a former minister of defence, both had bank accounts that had cash that were stolen, and the Buhari administration hired the same company to collect those funds.

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A memorandum with the heading “HAGF/AABIOLA/USA/2021/VOL.1/1” and the date “May 31, 2021” disclosed that the Attorney-General of the Federation and Minister of Justice, Abubakar Malami, had appointed Akib Abiola as the lead recovery agent to retrieve the funds on behalf of the federal government from Atiku.

Buhari’s Government hires US firm

The information that the stolen assets are currently subject to forfeiture procedures was given by AGF Malami in the letter of engagement.

In addition to this, he added that the financial institutions that held the accounts belonging to Atiku, Fayose, and Obanikoro were based in the United States of America.

The following is an excerpt from the letter: “Please be informed that the federal government of Nigeria has engaged you to recover the funds that have been traced to the accounts located in the United States of America and belonging to the individuals listed in paragraph 2 of this engagement letter.

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“Following the proposal submitted by Mr. Akib Abiola. (hereinafter “Lead Recovery Agent”) vide letter dated 9 March and 6 May 2021 respectively, please be informed that the federal government of Nigeria has engaged you to recover the funds that (hereinafter illicit funds).

“The purpose of the engagement is for the recovery of the illegal funds that have been traced to Mr. Atiku Abubakar, Mr. Ayo Fayose, and Mr. Musiliu Obanikoro in the United States of America.”

Buhari’s Government Hires US firm to recover stolen funds – Firm’s Responsibility 

Malami requested that the US company initiate an action severally or jointly against Atiku Abubakar, his family, and associates in order to recover the stolen assets that are owed to the federal government from the proceeds of crime that are currently being investigated as part of a forfeiture proceeding in the United States.

Other responsibilities include “identifying and providing information to the undersigned (Malami) about any assets subject or likely to be subject to forfeiture proceedings in the United States of America, limited to Mr. Ayo Fayose (former governor of Ekiti States) and Mr. Musiliu Obanikoro (former minister of state for defence and former High commissioner to Ghana).”

Other responsibilities include “identifying and providing information to the undersigned (Malami) about any assets subject or likely to be subject

In addition, it was required of the lead recovery agent to negotiate settlements, sign letters and agreements, and work in conjunction with the AGF in order to accomplish the objective of retrieving the funds.

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The Attorney General of the Federation (AGF) stated that “where lead recovery agent and its partner solicitors Identify any other assets (financial or otherwise) which may be pursued as a recovery prospect, it shall bring such information to the attention of the undersigned (Malami) for express approval before proceeding with any legal processes towards the recovery and repatriation of such asset.”

The Attorney General of the Federation, Malami revealed that the lead recovery agent will be eligible for a “success fee” equal to five percent of “actual recoveries made and remitted to the designated accounts” of the federal government.

The following statement is added to the letter: “This fee shall be paid in respect of cash recovery within sixty (60) days of the collective receipt of same by the federal government of Nigeria. ”

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“The aforesaid success fee shall be deemed to cover all of the expenses incurred by the lead recovery agent and any It should be made clear that the Nigerian federal government would not enter into separate terms of engagement with such agents, associates, attorneys, or sub-contractors.

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