Nigerian Politics

Tinubu forfeited $460,000 in US – APC


Tinubu forfeited $460,000 in US – APC

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The All Progressives Congress has admitted that its candidate in the just concluded presidential election and President-elect, Bola Tinubu, forfeited the sum of $460,000 to the government of the United States of America, in 1993 following a drug trafficking allegation.

Tinubu polled a total of 8,794,726 votes to defeat the candidate of the Peoples Democratic Party, Atiku Abubakar, and Peter Obi of the Labour Party in the February 25 presidential election.

Obi had challenged the announcement of Tinubu as the winner of the election.

He said Tinubu’s forfeiture of his funds to the US government over a drug trafficking allegation was an indication that he engaged in infractions that were enough to disqualify him from contesting an election.

However, the party, in processes it filed to defend its candidate, refuted the claim that Tinubu was convicted by the US as a result of the forfeiture.

The APC informed the Presidential Election Petition Court, sitting at the Court of Appeal in Abuja, that funds in the said accounts, which were domiciled in two commercial banks, were subject to a “civil forfeiture proceeding” in Case No: 93C4483.

“The said decision is not against the 2nd Respondent (Tinubu) but against the funds in the various account opened in the name of Bola Tinubu with First Heritage Bank and City Bank N.A.

“The compromise terms that led to the forfeiture were preceded by express admission on record that the 2nd Respondent (Tinubu) did not admit the commission of any drug, drug-related or illicit conduct of dishonesty or fraud that fits into any of the grounds of disqualification to contest for the office of president of Nigeria at the February 25, 2023 general election,” the APC told the Tribunal.