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‘Impossible’ for Nigerian president’s aide to have US$4 trillion in secret bank account

A Facebook post claims Abba Kyari, Nigerian president Muhammadu Buhari’s chief of staff, is hiding more than US$4 trillion in an offshore bank account.

It includes two photos of piles of US currency: the first shows 10-dollar bills and the second shows 100-dollar bills.

Nigeria chief of General staff have over four trillions dollars on his overseas personal account president mohmmed Buhari is fighting corruptions shares until world leaders sees how we are fighting corruptions,” the error-ridden post reads

The post, made on 20 November 2019, has been shared more than 350 times.



‘Outrageous, false, not possible’


But US$4 trillion comes to about N1.2 quadrillion when it’s converted to the naira, Nigeria’s currency, at the official exchange rate. 

That’s more than 100 times Nigeria’s proposed budget of N10.3 trillion for the year 2020. 

“It’s outrageous and not possible,” Prof Josaphat Onwumere, a banking and finance expert who teaches at the University of Nigeria Nsukka, told Africa Check.

“That post is totally false,” he said. “There is no bank in the world that can hold such an amount of US dollars for an individual secretly. It is very difficult to hide $4 billion. But it is not possible for $4 trillion.” – Allwell Okpi




 

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