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» 31.01.2011 - Africa's worst dictator becomes AU leader
» 28.01.2011 - "Fake unity govt" in Equatorial Guinea
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» 23.09.2010 - Equatorial Guinea propaganda now reaches all homes

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Equatorial Guinea
Politics | Economy - Development | Society

Equatorial Guinea denies accounts and real estate in Spain

afrol News, 26 May - The Equatorial Guinea's office of the presidency has denied media reports pinning President Teodoro Obiang and his family to a stream of bank accounts and property investments in Spain.

According to the Spanish newspaper, 'El País', the Anti-Corruption Prosecutor's Office is investigating the accounts and property investments bearing names of President Obiang, several ministers and their families.

The prosecutor Luis del Río Montes de Oca said the Spanish authorities have backed a complaint brought by the Human Rights Association of Spain for alleged money laundering by Equatorial Guinean leader, who allegedly transferred US$ 26.5 million to one of the Spanish banks, the newspaper reported.

The rights activists claim that members of President Obiang-Nquema and his government illegally diverted public funds derived from oil to purchase six houses in Spain and three parking spaces.

The counselor in charge of missions to the Presidency of Equatorial Guinea, Miguel Oyono Ndong Mifumu said the demands of the Association for Human Rights were absurd, stating that the government would not waste time responding to these attacks on the president.

"President Obiang Nguema has no real estate in Spain, much less have any funds. We believe that this announcement is once again a media coup of intoxication and misinformation, like many others that arise from time to time,” he said in the statement.

He instead accused the non-governmental agencies of being involved in money laundering activities in Africa. “And it is absurd that it is intended to open an investigation into something that everyone knows that there is nothing to investigate," added Mr Miguel Oyono.

Equatorial Guinea which has been ruled by two men from the same family since independence in 1968 has become the Sub-Saharan biggest oil producer.

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