A disclosure by a US-based asset recovery firm, Forensic Assets Investigation and Recovery Services LLC (FAIR), saying it has uncovered $69 billion (about N28.3tn) in illegal oil deals by the Nigerian National Petroleum Corporation, (NNPC), stuck in American banks.
The firm said the funds were believed to have been siphoned from undeclared crude oil sales under the Goodluck Jonathan administration allegedly by the NNPC officials and their collaborators in the Central Bank of Nigeria, (CBN).
Out of the stash, $9bn was reportedly traced to a Texas bank account allegedly belonging to a former National Security Adviser, (NSA), Gen. Andrew Azazi.
Recall that the Late Azazi died in a helicopter crash in Okoroba, Nembe Local Government Area of Bayelsa State, in December 2012, alongside the Governor of Kaduna State, Patrick Yakowa, amongst others.
It was gathered that the American company, FAIR, is a specialist in anti-corruption asset recovery working independently to trace and help repatriate money stashed away in foreign bank accounts and loot converted to real estate, luxury items, yachts and the money markets.
The firm, founded by a lawyer, Gary Riebschlager, comprises investigators, forensic accountants, bankers, and cyber experts who utilise Mutual Legal Agreements and global Financial Intelligence Units, Camden Assets Recovery Inter-Agency Network, Global Focus Point Network in Asset Recovery (INTERPOL), and the Stolen Asset Recovery Initiative of the World Bank.
