The All Progressives Congress, APC, has provided more information regarding the events that caused its candidate and incoming president, Bola Tinubu, to lose $460,000 to the United States of America, USA, in 1993.
The ruling party said that Tinubu, who was its candidate, just turned over money in 10 bank accounts that were either opened in his name or that of Compass Finance and Investment Co. in court documents it submitted to defend the outcome of the presidential election that was held on February 25.
It stated that funds in the aforementioned accounts, which belonged to First Heritage Bank and Citi Bank N.A., were the subject of a “civil forfeiture procedure” in Case No. 93C4483 when it was presented to the Presidential Election Petition Court, PEPC, sitting at the Court of Appeal in Abuja.
The APC claims that the alleged decision of the United States District Court Northern District of Illinois, Eastern division in the aforementioned case was not a fine but rather a forfeiture decree of $460,000 to the United States in accordance with the parties’ settlement of claim.