UK Development Fund Implicated in Money-Laundering Investigation

first published 16 April 2012

A private equity fund backed by Britain’s Department for International Development (DfID) is under criminal investigation by the European Union and Nigerian anti-corruption authorities for its alleged involvement in fraud and the laundering of millions of dollars looted by James Ibori, the ex-Governor of Nigeria’s oil-rich Delta State, according to an inquiry to be aired tonight by BBC Newsnight.