How Private Airline Owners Help Politicians Rape Economy through Money Laundering

At the end of this investigation, it was almost convincing that the country is hopelessly unredeemable. Findings reveal that some of the private airline operators are actively involved in helping politicians, most of them corrupt to fly foreign currencies from Nigeria to other countries with loose policies.
The impact is what the central bank has battle to no avail yet as demand for dollars continue to put pressure on external reserves.
An extensive and rigorous investigation reveals that, Nigerian is just tottering on the verge of collapse following massive looting and subsequent laundering of stolen fund using private jets.
The actors in this nefarious business of money laundering cut across the length and breadth of the country.
There is one foreign exchange black market operator in North Eastern Nigeria that does between N800 million and N1.0 billion on a daily basis.
The money laundering train, which used to ply the America and Europe route have since shifted base to the Middle East, with its new headquarter seemingly based in Dubai. Syria is said to have also become a hot spot following the breakdown of law in recent times.
The most recent of such money laundering is traced to one very top media mogul from the South Southern Nigerian and also has connections with top government officials. He was recently fingered in a not too successful 30 million Euro money laundering case.
Top diplomatic sources said a serving Air Commodore from the North Eastern Nigeria, who works with the Media Mogul, is deep in the business of money laundering and has control over many mallams who operate in the black market.
The Air Commodore who is said to be neck deep in the laundering money for politicians and grey businesses is a known big spender in Abuja and environs. Sources said most of the laundered money ends up with Islamic militants.
The windows through which these monies are said to be laundered are the private aircraft owned by some of the very rich Nigerians.
Diplomatic Sources said, these airplanes are not usually checked in Nigeria and some of the Middle Eastern countries.
According the sources, the monies are first changed to the United States dollar currency before they transported by these private jets to other parts of the world. In return, the monies are ‘cleaned’ up in the form of exotic cars, Foreign Direct Investments (FDIs) and other types of investments, both visible and invisible.
These monies are gotten from kick-backs, outright thieving and other corrupt practices.
Investigations reveal that, the pressure the local currency – the naira is going through currently is not unconnected with politicians and public officeholders who buy dollars from the local market and eventually laundering them outside the shores of this country but later returned as almost clean money, mostly starched away for terrorism and the 2015 elections.
Recently between July and August last year, a top politician from the South Eastern part of the country, a former senator and currently, a top official in the presidency was fingered in a $100 million deal.
Sources said, the former senator who lives in Asokoro asked one of his trusted aides to bring in the money in trickles of $20 million dollars to the country.
Another case study reveals how a top civil servant in Abuja was said to have recently bought a N7 million car, and on that same day called for one those numerous mallams controlled by the Air Commodore to change another N300 million to dollars.
Major transit countries where corrupt Nigerian politicians and thieves launder money include Dubai, Turkey, Syria and sometimes Saudi Arabia. In Africa, the thieves are beginning to corrupt countries like Sierra Leone, Liberia and Gambia.
The change of transit countries from the Europe and America became necessary after one of the top politician’s aides from South Southern Nigerian almost got caught when he went to America and Europe to launder money.
Diplomatic sources said, the aide who was also a former intelligence officer in Nigeria did not know he was being tailed initial, panicked after he smelled the trail and lost most of the money to spurious spending to avoid being arrested for money laundering, in which case would have lost the money as well as go to jail for the offence.
According to sources, the aide resorted to buying electronics, energy gadgets, and some hospital equipment, 100 times higher than the actual price.
The sources further revealed that the Lebanese ‘business men’ who led the aide in the aborted deal are now claiming additional money for demurrage for some the goods that are laying waste in Ghana and other places. Some of the unnecessary goods are said to have also ended up in Kano where they are lying fallow.
The sources added that, another South Southern Nigerian player, a major chieftain in the maritime world confirmed that Nigeria could hardly work because of the rot in the system.
Diplomatic sources said, many Nigerian officials now launder money through trade delegates, conferences outside Nigeria, and alleged securities services.
But while many would be thinking that, because the laundering business has shifted to the Middle East, and that the only Islamic Bank in Nigeria, Jaiz Bank will surely be party to the mischief, investigations reveal that, Umaru Abdul Mutallab, somebody believed to be behind the Islamic Bank is clean, and that the bank has not been involved in any shady deal.
In fact investigations revealed that Mutallab has resisted attempts to use the bank as laundering vehicle for terrorism act.
It is revealed that, Mutallab, has been a mentor of current central Bank of Nigeria (CBN)’s governor, Sanusi Lamido Sanusi who, has also stood his ground against money laundering.
Sources said, certain top politicians from Northern Nigeria have wanted to use Jaiz Bank, but both Mutallab and Sanusi have stood their ground against getting involved in terror money.

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