Money Laundering
During his father's military rule, Mohammed Abacha was involved in looting the government. A preliminary report published by the Abdulsalam Abubakar transitional government in November 1998 described the process. Sani Abacha told his National Security Adviser Ismaila Gwarzo to provide fake funding requests, which Abacha approved. The funds were usually sent in cash or travellers' cheques by the Central Bank of Nigeria to Gwarzo Kuncnoni, who took them to Abacha's house. Mohammed Abacha then arranged to launder the money to offshore accounts. An estimated $1.4 billion in cash was delivered in this way.
Read more about this topic: Mohammed Abacha
Famous quotes containing the word money:
““If you wish to be perfect, go, sell your possessions, and give the money to the poor, and you will have treasure in heaven; then come, follow me.” When the young man heard this word, he went away grieving, for he had many possessions.”
—Bible: New Testament, Matthew 19:21,22.
Jesus to a rich young man.