The All Progressives Congress has stated the reason why the president-elect, Bola Ahmed Tinubu, forfeited $460,000 in the United States.
In its processes filed at the Presidential Election Petition Court, the Party maintained that Tinubu merely surrendered funds in 10 bank accounts that were opened in either his name or that of Compass Finance and Investment Co.
The Presidential Candidate of the Labour party, Peter Obi had challenged the announcement of Tinubu as the winner of the election, stating among other things that the APC candidate was not qualified to contest 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.
The APC, however, told the tribunal that funds in the said accounts, which were domiciled in two commercial banks, were subject to a civil forfeiture proceeding in Case No: 93C4483.
According to the APC, the purported decision of the United State District Court Northern District of Illinois, Eastern division in the said case, was not a fine but a decree of forfeiture of the amount of $460,000 to the United State pursuant to the settlement of claim by the parties to the case.
Besides, the APC, through its team of lawyers led by Prince Lateef Fagbemi, SAN, told the court that the Federal Government had as far back as 2003, through the American Consulate in Nigeria, inquired about Tinubu’s criminal record.
It said the outcome of the inquiry which FG made through the Inspector-General of Police, yielded a clean bill of health that unequivocally and unreservedly cleared Tinubu of any criminal record, in the United States of America.
It further argued that the said forfeiture Tinubu made to the US government, having lasted a period of 29 years, was no longer a valid ground to challenge his eligibility to contest the presidential election.
