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Nairametrics
Home Business News

Former Brazilian President Detained In Petrobras Scandal

Editor by Editor
March 4, 2016
in Business News
Former Brazilian President Detained In Petrobras Scandal
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Former Brazilian President Luiz Inacio Lula da Silva was earlier today detained at his home for questioning for his role in state oil company Petrobras. Lula da Silva who left office in 2011, has denied allegations of corruption.

“The former president (popularly known as LULA) was taken from his house in São Bernardo do Campo at 6am for questioning in a secret location,” the federal police in São Paulo told the Financial Times

The long-running inquiry, known as Operation Car Wash, is probing accusations of corruption and money laundering at Petrobras.

Lula2

Dozens of executives and politicians have been arrested or are under investigation on suspicion of overcharging contracts with Petrobras and using part of the money to pay for bribes and electoral campaigns.
Police said they had evidence that Lula, 70, received illicit benefits from the kickback scheme.

Lula’s institute have however hit back in a statement saying the “violence” against the former president was “arbitrary, illegal and unjustifiable”, as he had been co-operating with the investigations.

According to the financial times, the police said in a statement that they were calling this latest phase of the Petrobras investigation “Aletheia” — a Greek expression meaning the “real search”. The latest operation involves 33 search and 11 detention warrants in several cities, they said.

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What does this mean for Nigeria?

The NNPC has been battling with cases of corruption against it for years, which led to the recent reshuffling of the corporation to 30 companies.There is also the Haliburton’s case, which allegedly involves highly placed people in Nigeria and is yet to be resolved. If the former Brazilian president can be picked up for questioning, can the same happen in Nigeria?

Read more in BBC and Financial Times

Editor

Editor

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