Tinubu forfeited $460,000 in US – APC

The All Progressives Congress has admitted that its
candidate in the just concluded presidential election and President-elect, Bola
Tinubu, forfeited the sum of $460,000 to the government of the United States of
America, in 1993 following a drug trafficking allegation.

Tinubu polled a total of 8,794,726 votes to defeat the
candidate of the Peoples Democratic Party, Atiku Abubakar, and Peter Obi of the
Labour Party in the February 25 presidential election.

Obi had challenged the announcement of Tinubu as the winner
of the election.

He said Tinubu’s forfeiture of his funds to the US
government over a drug trafficking allegation was an indication that he engaged
in infractions that were enough to disqualify him from contesting an election.

However, the party, in processes it filed to defend its
candidate, refuted the claim that Tinubu was convicted by the US as a result of
the forfeiture.

The APC informed the Presidential Election Petition Court,
sitting at the Court of Appeal in Abuja, that funds in the said accounts, which
were domiciled in two commercial banks, were subject to a “civil forfeiture
proceeding” in Case No: 93C4483.

“The said decision is not against the 2nd Respondent
(Tinubu) but against the funds in the various account opened in the name of
Bola Tinubu with First Heritage Bank and City Bank N.A.

“The compromise terms that led to the forfeiture were
preceded by express admission on record that the 2nd Respondent (Tinubu) did
not admit the commission of any drug, drug-related or illicit conduct of
dishonesty or fraud that fits into any of the grounds of disqualification to
contest for the office of president of Nigeria at the February 25, 2023 general
election,” the APC told the Tribunal.