Yar'Adua releases $87m
24/07/2007 21:48  - (SA)  

'Obasanjo is corrupt' 2 Nigerian ex-governors held Nigeria walks the plank Nigerian MPs 'no to bribes' Obasanjo gets top job

Lagos - Nigerian President Umaru Yar'Adua has ordered the release of funds belonging to the government of the economic capital Lagos seized three years ago by his predecessor, his office said on Tuesday.

Presidential Spokesperson Olusegun Adeniyi said Yar'Adua took the decision after consulting with legal experts who advised that the seizure of 10.8 billion naira (almost $87m) by the government of former president Olusegun Obasanjo in 2004 was illegal.

He said the president has directed the country's accountant-general to release the money immediately to the government of Governor Babatunde Fashola.

Obasanjo had ordered the seizure to show his displeasure with then Lagos governor Bola Tinubu for ignoring his instruction that he should not create new local government areas in the state.

Tinubu challenged the action in court and the Supreme Court ordered Obasanjo to release the money, but he refused to do so until he left office in May.

 

 Yahoo

 

 Digg

 Del.icio.us

 Facebook

What is this?

 News24 on mobile

 News24 on facebook profile