Politics

10 Accounts Linked To Tinubu In US, $460,000 Deducted As Tax – Keyamo

Published

3 years ago

November 10, 2022

Although 10 accounts were linked to All Progressives Congress (APC) presidential candidate, Bola Tinubu, by United States authorities in the early 90s, $460,000 were deducted from one of the accounts as tax on investments domiciled in US banks.

This was the submission of the Chief Spokesperson for the Tinubu-Shettima Presidential Campaign Council, Festus Keyamo, on Channels Television’s Politics Today programme on Wednesday.

He was commenting on the controversy surrounding a document recently released by the US District Court for the Northern District of Illinois said to have investigated Tinubu’s alleged involvement in narcotics and money laundering about 30 years ago.

The matter, which ended in a settlement, led to Tinubu’s forfeiture of $460,000 in one of the accounts linked to the former governor of Lagos State.

Keyamo said Tinubu took responsibility for all the 10 accounts because they were also traced to his mother and “relatives”.

He also said Tinubu was roped in the drug trafficking case of two Nigerians who once stayed in separate flats in the same building where the ex-governor stayed at a time in the US.

“He, Asiwaju, went to open an account, the address by which he opened the account was already used by these people…investigated for narcotics,” he said.

‘Not A Deliberate Act’
Keyamo further stated that Tinubu was an employee of Mobil Oil and not a treasurer of a drug cartel.

He explained that Tinubu deposited some funds in bank accounts in the US as investments and got returns on those investments.

The spokesman said the banks were supposed to deduct taxes from the investments but they did not and this was not a “deliberate act” on the part of Tinubu.

“The deposits he made there (in banks) are what bankers called investments; he kept the money there and he was getting interests. They (US government) said he had not paid tax on those interests. That is all and guess what? The banks are supposed to deduct the tax from source.

“Out of the 10 accounts, it was only one account – the one in Heritage Bank – that they took $460,000 as tax on interest that he benefited on the investment he made in those accounts.

“In fact, all the money in Heritage Bank was not taken; they took only $460,000 as tax,” said Keyamo, who is also the Minister of State, Labour and Employment.

‘PDP Went To The US To Dust Old Document’
Keyamo insisted that there was no criminal indictment or conviction against Tinubu, alleging that the opposition Peoples Democratic Party (PDP) was behind the reincarnation of the controversial court document.

“His (Tinubu’s) detractors kept bringing up these issues over and over when his political profile is rising, when he wants to run for office or any political turn in his life, they will bring up these issues,” Keyamo said.

“The date on the papers flying up and down, the date of certification is 2022, so they are using this to confuse people that these are fresh papers. If documents are 40 years old or 100 years old, once you go to court, and apply for certified true copies of those documents, they will give you those documents but they will stamp the day they are giving you those documents.

“This is what our detractors, the PDP, perhaps that is what they went to the US for when they pretended that they went for high-level engagement. This is part of the high-level engagement they went for.”

Tinubu, 70, is in the 2023 contest for Aso Rock’s top job alongside top contenders like PDP’s Atiku Abubakar and Peter Obi of the Labour Party in the contest many analysts have described as a three-horse race.
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Politics

Peter Obi Meets US Consul General, Hopes For Credible Polls In 2027

Published

5 hours ago

May 5, 2026

Editor

Chieftain of the Nigerian Democratic Congress, NDC, Peter Obi on Tuesday held a meeting with United States Consul General, Mr Rick Swart.

Obi made this known via his X handle.

He said “This morning, in Lagos, I met with the U.S. Consul General, Mr Rick Swart, where we discussed strengthening the bilateral relationship. We focused on promoting credible elections in Nigeria, ensuring they are free from interference, and fostering a space where all political parties, especially opposition parties can thrive, and contribute.

“We also discussed trade and business opportunities between our countries. Accompanying me to the meeting was Dr Adefolaseye Adebomi Adebayo.

“The discussion was very productive, and we are hopeful that, moving forward, Nigeria’s elections will be even more credible and transparent.”

Politics

BREAKING: 17 ADC Reps Follow Join NDC

Published

10 hours ago

May 5, 2026

Editor

About 17 African Democratic Congress, ADC, lawmakers in the House of Representatives have defected to the Nigerian Democratic Congress, NDC.

This was disclosed by Speaker Abass Tajudeen on the floor of the House on Tuesday.

Tajudeen also announced the defection of Leke Abejide from the ADC to the All Progressives Congress, APC.

Lawmakers who defected to the NDC include Yusuf Datti, Uchenna Okonkwo, Adamu Wakili, Thaddeus Attah, George Ozodinobi, Lilian Orogbu, Oluwaseyi Sowunmi, Peter Aniekwe, Mukhtar Zakari, George Oluwande and Munachim Umezuruike.

Others are Emeka Idu, Jesse Onuakalusi, Ifeanyi Uzokwe, Afam Ogene and Abdulhakeem Ado.

This comes barely a day after former presidential candidates Peter Obi and Rabiu Kwankwaso defected from the ADC to the NDC.

Obi and Kwankwaso have pledged to continue their pursuit for a better Nigeria in the NDC.

Politics

JUST IN: Why I left ADC For NDC With Kwankwaso – Peter Obi Opens Up

Published

1 day ago

May 4, 2026

Editor

A former presidential candidate, Peter Obi, has given reasons why he resigned from the African Democratic Congress, ADC, to join the Nigerian Democratic Congress, NDC, alongside a former governor of Kano State, Rabiu Kwankwaso.

In a long post on X on Monday, Obi insisted it was not out of anger or ambition.

Rather, he said the move is a continuation of the quest to build a new Nigeria.

Obi wrote: “Yesterday, I formally joined the Nigerian Democratic Congress (NDC), alongside my dear brother, Engr. Dr Rabiu Musa Kwankwaso, with one clear purpose: to continue the struggle for a new Nigeria built on justice, competence, accountability, and compassion for the ordinary Nigerian.

“As I stated yesterday, this decision was not made out of anger, personal ambition, or convenience. It came after deep reflection on the present condition of our nation and the urgent need to rescue Nigeria from the dangerous path it is currently heading.

“Over the years, I have remained steadfast in my conviction that politics should never be about individuals, positions, or personal gain. It must be about the people, especially the millions of Nigerians who today can no longer afford necessities, whose businesses are collapsing, whose children are losing hope, and whose future is becoming increasingly uncertain.

“I left the ADC for the same reason I left the Labour Party: the severe, orchestrated litigation and internal crises deliberately designed to ensure that I, alongside many other notable individuals, do not effectively participate in the electoral process. I sincerely appreciate and remain deeply grateful to the Leadership of ADC for the opportunity to work together in pursuit of a better Nigeria. I am particularly grateful to ADC Chairman Senator David Mark for his exceptional Leadership. I also deeply appreciate my Leader and elder brother YE, Atiku Abubakar, as well as other respected leaders within the party.

“As we join the NDC, I sincerely appeal to the Nigerian Government against the encouragement of unresolved litigations and the infusion of crises within political parties. Democracy must never become a weapon against the people. A healthy democracy thrives on strong institutions, credible alternatives, and the freedom of citizens to make choices without intimidation, manipulation, or fear. Opposition parties must not be weakened or destroyed, because when democracy loses balance, the people ultimately suffer.

“Nigeria today is passing through one of the most difficult periods in its history. Poverty is rising. Hunger is widespread. Insecurity continues to threaten lives and livelihoods. Businesses are shutting down daily. Our young people are becoming discouraged, and many citizens have lost faith in the system. At a time like this, leadership must be driven not by propaganda or division, but by competence, capacity, character, and compassion.

“Our decision to join the NDC is therefore not an abandonment of values, but a continuation of the same mission we have always stood for: building a Nigeria where leadership is about service, where public resources are managed responsibly, where institutions function independently, and where every Nigerian, regardless of tribe, religion, region, or social status, can live with dignity, security, and hope.

“I remain committed to working with all Nigerians of goodwill across political, ethnic, and religious lines. The task before us is bigger than any individual or political party. It is about the future of our children and the survival of our dear nation.

“I thank Nigerians, especially our youths and women, for remaining peaceful, resilient, and hopeful despite the enormous challenges confronting the country. I urge you not to lose faith in Nigeria. Nations do not change because people surrender to hopelessness; they change because people continue to believe, continue to sacrifice, and continue to stand for what is right.”