| Nigeria Senate panel finds VP siphoned public funds, calls for prosecution |
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| Written by The Associated Press | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tuesday, 27 February 2007 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Nigeria Senate panel finds VP siphoned public funds, calls for prosecution The Associated Press The Senate, which is controlled by President Olusegun Obasanjo's ruling party, launched the investigation last year after Obasanjo forwarded it charges made by Nigeria's anti-graft body against Atiku Abubakar, a one-time Obasanjo political ally who fell out of favor with his boss. In a report presented to the full Senate, the investigating panel said it agreed with the findings that Abubakar helped divert US$145 million from Nigeria government coffers to banks, where some of the money was "fraudulently converted as loans" for three companies connected to Abubakar. The report called for Abubakar's prosecution. While in office, Abubakar is protected from criminal indictment. A Senate impeachment, however, would strip him of his protection and disqualify him from April presidential elections. He could also then be charged with crimes. {mosgoogle right}Abubakar's campaign rejected the findings, saying "the legislative body should not allow its name to be dragged into the mud by a few members who may be pursuing their own hidden agenda." It said in a statement that Abubakar's actions were proper, with the funds originating in a fund specifically designed for investments in the private sector. The campaign said a top government accountant ruled that the banks were investment grade and that Abubakar delivered double-digit returns on the government's money. "We therefore call on the entire Senate to look at the report of the committee objectively and reject it if found to be shoddy, as a way of redeeming the image of the upper legislative chamber," it said. Senate President Ken Nnamani said the report was to be debated by lawmakers on Wednesday. Abubakar fell out with Obasanjo last year after helping stop a drive by Obasanjo supporters to amend Nigeria's constitution and allow Obasanjo another presidential term. Abubakar has in the past dismissed the allegations as part of a plot to keep him from running for Nigeria's top office. Abubakar's office could not immediately be reached for comment. The Senate upheld the anti-corruption groups findings that US$6 million out of the diverted funds allegedly went to iGate, a Louisville, Kentucky-based communications firm that tried to do business in Nigeria in 2004. U.S. Rep. William Jefferson, a Louisiana Democrat, has been under investigation in the U.S. since March 2005 for allegedly using his position to help iGate which sought contracts with Nigeria and other African nations and taking bribes in return. The FBI said it found US$90,000 stashed in a freezer in his home. The FBI last year raided Abubakar's Potomac, Maryland home as part of the investigation. Oil-rich Nigeria is regularly ranked among the most corrupt countries in the world by Berlin-based corruption watchdog, Transparency International. April elections, which would allow for Nigeria's first-ever transfer of power from one elected leader to another, are meant to cement civilian rule in the coup-prone nation.
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Posted by Robot| 27.02.2007 14:14