James Ibori
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UK aid funded firms 'linked to Nigeria fraudster'

Britain's Department for International Development is accused of allowing tens of millions of pounds in UK aid to be invested in Nigerian money laundering fronts, BBC Newsnight has learned.

An equity fund backed by DfID-owned subsidiary CDC Group is being investigated by Nigerian officials.

The accusation is that the private fund invested in companies linked to convicted money-launderer James Ibori.

DfID says CDC carries out thorough checks before investing in funds.

Peter Marshall reports for Newsnight.

  • 17 Apr 2012
  • From the section Africa