Home Politics Bloomberg Article Reveals How Tinubu Allegedly Laundered Proceeds of Heroin Trafficking In US, Sanwo-Olu’s Aide Reacts

Bloomberg Article Reveals How Tinubu Allegedly Laundered Proceeds of Heroin Trafficking In US, Sanwo-Olu’s Aide Reacts

by Busytape
Bloomberg Article Reveals How Tinubu Allegedly Laundered Proceeds of Heroin Trafficking In US, Sanwo-Olu's Aide Reacts

According to a Bloomberg story, the United States accused Bola Tinubu of laundering proceeds from heroin trafficking and struck a settlement with him.

Before the 2023 presidential election, Bloomberg had released a story titled “Graft Allegations Dog Nigeria’s Leading Presidential Hopefuls,” which focused on the Peoples Democratic Party and All Progressives Congress presidential candidates, Atiku Abubakar and BolaTinubu.

This did not sit well with Jubril Gawat, a Senior Special Assistant (SSA) to Lagos state Governor Babade Sanwo-Olu on New Media.

Regarding the devastating report, Gawat defended the All Progressives Congress presidential candidate in his post.

According to the story, former Lagos state governor Tinubu “fought a lawsuit in which the United States accused him of laundering money from heroin trafficking and eventually reached a settlement.”

It read;

Front-runner Bola Tinubu, who secured the ruling party’s nomination earlier this month, was being investigated by the country’s anti-corruption agency as recently as last June. Three decades ago he fought a lawsuit in which the US government accused him of laundering the proceeds of heroin trafficking and eventually reached a settlement. 

In July 1993, when Tinubu briefly served as a Nigerian senator, the US government filed a forfeiture lawsuit in Chicago against bank accounts in his name, claiming there was “probable cause” to believe they held the proceeds of heroin dealing. The case followed a probe by the Internal Revenue Service and other agencies into a trafficking network involving Nigerian suppliers.

The IRS secured warrants in January 1992 to seize almost $2 million, according to court filings. While living in Chicago between 1989 and 1991, Tinubu had deposited more than $1.8 million into one of the accounts, before transferring large sums to another bank, according to the US government’s complaint. While disputing the US’s reason for targeting the accounts, Tinubu settled in September 1993, agreeing to give up $460,000 to the US government in exchange for the release of the rest of the money. Tinubu wasn’t indicted over the matter.

Gawat who reacted to the article, shared a screenshot of the part which stated that Tinubu was never indicted. He tweeted “Tinubu was never indicted over the matter”. 

related posts

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More