APC Admits Tinubu’s $460,000 Forfeiture to USA in 1993, Disputes Conviction Claim
Presidential Election Petition Court reserves judgement in cases against Bola Tinubu’s victory
The All Progressives Congress (APC) has acknowledged that its candidate and President-elect, now President Bola Tinubu, indeed forfeited $460,000 to the government of the United States of America (USA) in 1993 after facing drug trafficking allegations. However, the party strongly refutes the claim that Tinubu was convicted by the US authorities as a result of the forfeiture.
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The controversy arose when the presidential candidate of the Labour Party (LP) challenged Tinubu’s election victory, urging the court to declare him as the legitimate winner of the fiercely contested February 25 poll. The LP candidate cited Tinubu’s previous forfeiture as an indication of his unsuitability to run for office in Nigeria.
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In response, the APC filed documents defending its candidate, asserting that Tinubu had voluntarily surrendered funds from ten bank accounts linked to either him or Compass Finance and Investment Co. These funds were held in two commercial banks and were part of a “civil forfeiture proceeding” documented under Case No: 93C4483.
Presidential Election Tribunal to Deliver Judgment on Peter Obi’s Petition against Tinubu’s Victory
The Presidential Election Petition Court (PEPC), currently sitting at the Court of Appeal in Abuja, has reserved judgment on the cases filed by APM, Atiku Abubakar, and Peter Obi against Bola Tinubu’s victory.
As the legal battle unfolds, all eyes remain on the PEPC’s verdict, which will determine the fate of Tinubu’s presidency. The nation awaits the court’s ruling, as it holds significant implications for the political landscape of Nigeria.
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