The question on the lips of every well meaning Nigerian is WHY?
Why has President Tinubu surrounded himself in his government with people of questionable characters? Why has the president decided to put a goat as the custodian of yams?
One of the choices of PBAT is his nomination of Alhaji Atiku Bagudu. As if it was not bad enough to nominate him as a federal minister with the controvercial antecedents he has as a fraudulent man, BAT then went ahead to reward him with the portfolio as the Minister of Budget and Economic Development….hmmm!
Ministerial Role and Recent Developments: In this significant political move, Bagudu was appointed as the Minister of Budget and Economic Planning by President Bola Tinubu on August 16, 2023, showcasing the continued influence of shady characters and their ¹ in Nigeria’s government of the past and present. Tinubu was supposed to do things differently as he promised during the campaign.
Allegations of Corruption: Despite his political achievements, Bagudu has been implicated in multiple investigations involving corruption during the regime of former Nigerian military ruler Sani Abacha. Bagudu’s association with Abacha, who was accused of embezzling over $2.2 billion of public funds during his presidency, has raised concerns about his financial activities.
Bagudu was arrested in 2003 in Houston, Texas, and extradited to Jersey for allegedly setting up a shell company named Doraville Properties to launder funds stolen from Nigeria. A settlement was eventually reached, requiring Bagudu to return $160 million of stolen money in exchange for deportation to Nigeria for trial.
The U.S. Department of Justice’s allegations in 2014 implicated Bagudu and others in embezzlement, misappropriation, and money laundering through U.S. financial institutions. Despite these allegations, Bagudu was not questioned upon his return to Nigeria.
Recognition and Awards: In October 2022, Bagudu was honored with the Nigerian national honor of Commander of the Order of the Niger (CON), conferred upon him by President Muhammadu Buhari, the much touted anti-corruption tzar that turned out to be the most corrupt leader in Nigeria, ever!
Controversy and Offshore Holdings: Bagudu’s name appeared in the 2021 Pandora Papers, revealing his alleged involvement in hiding wealth through offshore shell companies.
Despite his political accomplishments, Abubakar Atiku Bagudu remains a figure marked by controversy and allegations of financial impropriety, raising questions about his legacy and impact on Nigeria’s political and economic landscape.
Otherwise, how can a man like Bagudu, a known associate of former Nigerian dictator Sani Abacha, who was accused of stealing more than $2.2 billion of public funds during his five-year tenure as Nigerian president in the 1990s be made a federal minister?
In 2003, Bagudu was arrested and extradited from Houston, Texas at the request of Jersey, where Bagudu had set up a shell company called Doraville Properties to launder funds stolen from Nigeria.
Bagudu eventually reached a settlement, agreeing to return $160 million of stolen money in exchange for deportation to Nigeria to face trial.
Despite the considerable evidence from legal authorities in the U.S., Jersey, and Switzerland, Bagudu was never questioned after returning to Nigeria.
In 2014, the U.S. Department of Justice announced the repatriation of $480 million stolen by Sani Abacha and his co-conspirators. In its complaint, the U.S. government alleged that Sani Abacha, his son Mohammed Sani Abacha, their associate Abubakar Atiku Bagudu and others “embezzled, misappropriated and extorted billions of dollars from the government of Nigeria and others, then laundered their criminal proceeds through U.S. financial institutions and the purchase of bonds backed by the United States.”
In February 2020, the U.S. government entered into a trilateral agreement with Nigeria and Jersey to repatriate over $300 million in additional money that Bagudu played a role in stealing during the Abacha regime.
The U.S. announced that it was continuing to seek forfeiture of over $177 million in additional laundered funds held in trusts that name Bagudu and his relatives as beneficiaries.
Bagudu was immune from prosecution while governor, and now rewarded with a juicy portfolio by a president touted as a man best at identifying talents and technocrats.
Bagudu was one of the Nigerians unveiled by the 2021 Pandora Papers as hiding dirty money in offshore shell companies.
Which Way Nigeria?!!
SUBSCRIBE TO OUR NEWSLETTER NOW
Support MATAZ ARISING’ journalism of integrity and credibility.
Good journalism ensure the possibility of a good society, an accountable democracy, and a transparent government.
We ask you to consider making a modest support to this noble endeavour.
TEXT AD: To advertise here – Email ad@matazarising.com
LATEST POSTS
Three PDP senators defect to APC
MaTaZ ArIsInGDallas, Texas With the three senators’ defections, the number of senators from the ruling APC has increased to 68. Three senators from the opposition Peoples Democratic Party (PDP) have defected to the ruling All Progressives Congress (APC). The three senators are all from Kebbi State. They are Adamu Aliero, representing Kebbi Central Senatorial District, Yahaya Abdullahi,…
Atiku meets Obasanjo, ex-SGF Babachir Lawal, others in Abuja [PHOTOS]
MaTaZ ArIsInGDallas, Texas Former Vice President, Atiku Abubakar, on Tuesday, met some political bigwigs including his former boss, ex-president Olusegun Obasanjo at the NAF Centre in Abuja. They are in Abuja for the launch and public presentation of a book titled: “Being True to Myself” authored by former Governor of Jigawa State Sule Lamido. Former Secretary to…
Reps throw out bill for zonal rotation of presidency, six other constitution amendment bills
MaTaZ ArIsInGDallas, Texas Share The House of Representatives has rejected seven constitutional amendment bills, including a bill to allow for the rotation of the Offices of the President and the Vice President among the six geopolitical zones of the country. The six other bills include bill to strip the Independent National Electoral Commission, the powers…
![Atiku meets Obasanjo, ex-SGF Babachir Lawal, others in Abuja [PHOTOS]](https://matazarising.com/wp-content/uploads/2025/05/Screenshot_20250513_134516_Zoho-Mail.jpg)
