According to reports, the Muhammadu Buhari-led Federal Government hired a US company to collect illegal monies that were allegedly linked to Atiku Abubakar, the PDP’s presidential candidate.
Ayodele Fayose, a former governor of Ekiti, and Ambassador Musiliu Obanikoro, a former minister of defense, were both connected to the same company, according to a report.
The Attorney-General of the Federation and Minister of Justice, Abubakar Malami, appointed Akib Abiola as the primary recovery agent to recover the funds on behalf of the federal government from Atiku, according to a document with the heading HAGF/AABIOLA/USA/2021/VOL.1/1 that was dated May 31, 2021.
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The letter of engagement between the parties and AGF Malami included information about the ongoing forfeiture proceedings for the stolen property.
Additionally, he said that Atiku, Fayose, and Obanikoro’s accounts were all situated in the USA.
The letter reads: “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 traced to the accounts located in the United States of America and belonging to the individuals listed in paragraph 2 of this engagement letter (hereinafter illicit funds).
“The scope of the engagement is for the recovery of the illicit funds traced to Mr. Atiku Abubakar, Mr. Ayo Fayose, And Mr. Musiliu Obanikoro in the United States of America.”
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Malami requested that the US company take legal action against Atiku Abubakar, his family, and friends singly or collectively in order to recover the stolen assets owed to the federal government from the proceeds of crime that are currently the subject of a forfeiture procedure at the US.
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).”
In order to collect the monies, the lead recovery agent was also required to establish agreements, sign letters and contracts, and cooperate with the AGF, according to report.
The AGF stated that before beginning any legal proceedings aimed at the recovery and repatriation of such asset, “the lead recovery agent and its partner solicitors shall bring such material to the attention of the undersigned (Malami) for express consent.”
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AGF Malami disclosed that the lead recovery agent will be entitled to a “success fee” amounting to five percent of “actual recoveries made and remitted to the designated accounts” of the federal government.
The letter adds, “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.
“The aforesaid success fee shall be deemed to cover all the expenses incurred by the lead recovery agent and any agents or associates contracted by your firm in the course of its engagement. For the avoidance of doubt, the federal government of Nigeria will not enter separate terms of engagement with such agents, associates, attorneys or sub-contractors.”
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