Nigeria talks tough, warns South Africa over seized $5.7 million arms money Nigeria responded with fury Monday 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 warning 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. In a terse reaction to what appears a potential diplomatic spat between the two countries, the 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. https://premiumtimesng/news/headlines/169132-nigeria-talks-tough-warns-south-africa-over-seized-5-7-million-arms-money.html#.VDMPbbe7Ydk.facebook
Posted on: Tue, 07 Oct 2014 07:27:44 +0000
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