South Africa Seizes Another Nigeria’s Arms Deal Money

South African authorities have seized another $5.7 million meant for arms from Nigeria, a South Africa-based City Express reported on Monday.  This is coming barely three weeks after the $9.3 million cash transported by two Nigerians and an Israeli for arms purchase was seized by the country.

According to the paper, the seizure was made by South Africa’s Asset Forfeiture Unit of the National Prosecuting Authority for allegedly being the proceeds of illegal transaction. This latest transaction, as reported in the paper, 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.

City Express said the deal fell apart after Cerberus which had earlier received from Nigeria R60 million, about N1.2 billion in its account at Standard Bank, tried to repay the money as it could not resolve its registration formalities with the South African authorities. “Cerberus was previously registered as a broker with the National Conventional Arms Control Committee, NCACC, but the registration expired in May this year,” City Press said.

The paper added that while the NPA’s Asset Forfeiture Unit subsequently obtained a court order in the South Gauteng High Court to seize the money, the NPA spokesperson Nathi Mncube, said there were no indications the two transactions were related.

“However, both are now the subject of a criminal investigation and all possible information and connections are being investigated,” Mr. Mncube was quoted as saying.

Follow Us on Social Media

Top
Share
Share
error: Content is protected !!
WhatsApp WhatsApp us