Legal Question in Insurance Law in Michigan

sole beneficiary

My uncle recently died in Nigeria and I was surprised to discover that I was the sole beneficiary of his fortune. The bank informed me that the fund would be wired to my account provided I pay $4400 to insure the fund due to a new anti-terrorist law the gov't of Nigeria had just enacted. I want to know if this sounds like standard procedure or if I am being ripped off?


Asked on 6/26/07, 8:15 am

1 Answer from Attorneys
Francois Nabwangu Wright Cantrell PLLC

Re: sole beneficiary

sounds like a rip off to me... why would insurance cost so much, how much money is involved? There are other mechanisms to transfer money internationally what sort of "regulation" would require "insurance" on an international money transfer in connection with "anti-terrorism?" You should contact your consulate in Nigeria and see what kinds of arrangements can be made. Ask if you can post some kind of surety or bond instead and ask precisely what the purpose of the regulation is....

You can contact us at your convenience

Fancois M. Nabwangu, Esq.

http://fnabwangu.googlepages.com

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Answered on 6/27/07, 12:51 am


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