Money Laundering:Dubai Banks Freezes Accounts of Nigerian Politicians, Others
Nigerian Politicians who uses Banks in the United Arab Emirate are in for
trouble as the Apex Bank in that country have directed its commercial
backs to freeze all accounts belonging to Nigerians especially
Politicians. Thousands of Nigerians with bank accounts in Dubai have received notices
that their bank accounts have been closed, without explanation. Some say
the banks are trying to eliminate risk, but a source in the United Arab
Emirates, ministry of finance said that the policy is to prevent money
laundering, especially from Nigerian politicians hiding under the pretext
of paying school fees for their children to smuggle millions of dollars
into the country. Per Second News gathered Thursday morning from a top official of the Dubai
Financial Services Authority, DFSA, that the move is a fallout of the
country’s new Central Bank Laws prohibiting Nigerians not working in the
UAE from possessing accounts in any local or foreign banks.
With the new monetary laws by the Emirate apex bank, all accounts of
Nigerians that are not linked to work in the UAE have been closed and
cheques issued in favour of the customers cashable in five working days.
Investigations by Per Second News revealed that politicians who have
stashed away huge sums of money in Dubai and other locations in the UAE
are already panicking over the fate of their money and are moving to
safeguard their finances. “It’s going to be a huge scandal for politicians and businessmen who go to
Dubai to hide their money. And if really they are closing non salary
accounts of Nigerians in Dubai, we are going to see something we
have never seen before, scandals,” a top government source said.
Politicians with huge sums of money in Dubai are mounting pressure on the
federal government to intervene and prevent a breakdown of diplomatic ties
between both countries. The post Money Laundering:Dubai Banks Freezes Accounts of Nigerian Politicians, Others appeared first on Pointblank News .