Tuesday 7 October 2014

Nigeria Reacts, Warns South Africa Over US$5.7 Million.





.....and Reminds them of MTN and DSTV

 Nigeria reacts after South African authorities confiscated a second tranche of funds meant for arms purchase to fight the extremist Boko Haram sect, denying the deal was unlawful and reminds South Africa of its investment in Nigeria.

The warning came after the South African government seized US$5.7 million wired by the Nigerian government through a bank to an arms dealer in that country.

South Africa’s Asset Forfeiture Unit of the National Prosecuting Authority said the money
, about N952 million, was the proceed of illegal transactions, according to local paper, City Press.

The seizure was the second in nearly three weeks, coming after authorities there froze $9.3 million transported in cash by two Nigerians and an Israeli for arms purchase. At the time, South Africa said the transaction violated its laws on movement of cash.


Nigerian government denied the second transaction was illegal and reminded South Africa of how Nigeria has provided a beneficial environment for South African companies like MTN, DSTV and a host of others to do business unhindered.

“It is our hope that South Africa would reciprocate this noble gesture,” the National Security Adviser, Sambo Dasuki, said on Monday, with a vow to eradicate Boko Haram regardless of the antics of “fifth columnists”.

Mr. Dasuki, named by the South African newspaper as the official who signed off the first controversial deal, confirmed late Monday the second transaction occurred as reported but firmly denied it was conducted illegally.

“We want to state clearly that a business transaction actually took place between a legitimate company in Nigeria and another legitimate one in South Africa through the bank,” said Mr. Dasuki through a spokesperson, Karounwi Adekunle.

“In the course of events, the South African company could not perform and decided to refund the money. What is illegitimate in this transaction done through the bank?” he queried.

The latest transaction came nearly three weeks after two Nigerians and an Israeli were arrested at South Africa as they attempted to smuggle US$9.3 million through Lanseria International Airport, Johannesburg, on September 5 in a private jet from Abuja, Nigeria.

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