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Politics South Africa Seizes $5.7million From Another Secret Nigeria Arms Deal - City Express South Africa



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The South African government has reportedly seized US$5.7 million arms money from Nigeria nearly three weeks after $9.3 million cash transported by two Nigerians and an Israeli for arms purchase was seized.

According to South African based City Express, as with the first deal, South Africa’s Asset Forfeiture Unit of the National Prosecuting Authority seized the $5.7 million (about N952 million) for allegedly being the proceeds of illegal transactions.

The South African paper reported that this latest transaction was between Cerberus Risk Solutions, an arms broker in Cape Town, and Societe D’Equipments Internationaux, said to be a Nigerian company based in Abuja.

According to the paper, the deal fell apart after Cerberus which had earlier received from Nigeria R60 million (N1.02 billion) in its account at Standard Bank, tried to repay the money as it it could not resolve its registration formalities with the South African authorities.

So far, Nigerian authorities are yet to issue any statement about this latest arms money seizure.

More details to follow....

#Nigeria #SouthAfrica