A former Nigerian petroleum minister steers USD 1.7 billion in state oil contracts to her associates, whose proceeds buy luxury properties, cars, and a superyacht – laundered through shell companies across four jurisdictions
A Nigeria Financial Intelligence Unit investigation found that a former petroleum minister directed state oil subsidiaries to award USD 1.7 billion in contracts to associates, whose proceeds were laundered through shell companies across Nigeria, the UAE, the US, and the UK. Access to the national corporate registry helped identify the contracted entities, contributing to asset forfeiture in Nigeria and a US Department of Justice civil suit (more info here: https://bit.ly/4c8MhSg).
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