APC Defends Tinubu Over $460k Forfeiture to U.S Govt in 1993: All You Need to Know

The All Progressives Congress (APC) has revealed the circumstances that led to its candidate, Bola Tinubu, forfeiting $460,000 to the United States government in 1993. The party stated that Tinubu simply surrendered the funds in ten bank accounts opened in his name or that of Compass Finance and Investment Co. The accounts, domiciled in First Heritage Bank and Citi Bank, were subjected to a “civil forfeiture proceeding” in Case No: 93C4483.

The APC insisted that the US District Court’s decision was not a fine but a decree of forfeiture of the amount to the US, pursuant to the settlement of claims by the parties to the case. The party stated that Tinubu did not admit to any drug, drug-related, or illicit conduct of dishonesty or fraud and that the settlement terms that led to the forfeiture were preceded by an express admission on record.

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The party’s legal team stated that the Nigerian government had previously inquired about Tinubu’s criminal record, and the outcome of the inquiry yielded a clean bill of health. The party argued that Tinubu’s forfeiture was no longer a valid ground to challenge his eligibility to contest the presidential election.

The APC listed the ten account numbers that contained funds that Tinubu forfeited after the settlement of claims by parties involved in the case, as well as the formal clearance report dated February 4, 2003, under the hand of Legal attaché to the United States Embassy, Nigeria, in response to the inquiry by the Inspector General of Police.

Despite the allegations levied against Tinubu, the APC maintains that he is innocent and exonerated of any drug connection and criminal conviction. The party argues that Tinubu’s political adversaries have used false and mischievous allegations to scandalize and demonize him, which has no effect on his victory in the 2023 presidential election.

In conclusion, the APC maintains that Tinubu is an eligible and competent candidate for the presidential election and has proven himself worthy of leading the country.


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