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Saturday 25 October 2014

Cash-for-arms deal: South Africa returns $15m to Nigeria

There are indications that Nigeria and South Africa
have resolved their differences over the cash-for-
arm deal that went awry.
An online medium, Cable News, yesterday quoted
South African Ambassador to Nigeria, Lulu Louis
Mnguni, as saying that the money had been
returned to the Nigerian government.
South African authorities had on September 5
seized $9.3 million cash belonging to the Nigerian
government and another $5.7 million about two
weeks later on the ground that the transfer process
was against South African financial law.
But Nigeria’s National Security Adviser (NSA),
Sambo Dasuki, insisted that the transactions were
legal.
The issue almost caused a major dispute between
both countries as Nigeria moved to sanction South
African companies operating in the country.
Indications however emerged that the South African
government was willing to return the money after
some diplomatic moves early this month.
Confirming the return of the money, Mnguni said:
“South Africa’s relations with Nigeria comes a long
way. So now, this actually will make us much more
closer, to see how we can close some of these
gaps that result in such accidents.”
While also reacting to the Synagogue building
collapse and its effect on the relationship between
the two countries, Mniguni said both countries had
come a long way and the collapse could only make
them closer and stronger.
The South African ambassador added that the
seizure of the funds by South African government
was in no way related to the Synagogue collapse.
“South Africa’s relations with Nigeria is priceless, it
cannot be sold for $15m,”
“These are two separate incidents, and of course,
the issue of money has already been sorted out.
Nigeria has been given the money.”

Source : thenationonline

Posted by Maduka Tony

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