Nigeria Recovers More Billions Of Abacha’s Loot

Date: 28-06-2013 3:42 am (9 years ago) | Author: Abayomi Jegede
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- at 28-06-2013 03:42 AM (9 years ago)
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A total of 22.5 million euro has been recovered by the Federal Government from the confiscation on money laundered by General Sani Abacha.

Speaking at the ministerial platform in Abuja, the Minister of Justice, Mohammed Adoke said a total of 175 million euro was also recovered from the family of the late head of state following a confiscation order by the Supreme Court of Liechtenstein.

Mr Adoke listed measures taken by the federal government to reform the nation’s criminal justice system.

General Abacha had ruled Nigeria as a military Head of State between November 17, 1993 and June 8, 1998, when he died suddenly of a heart attack. As a result, General Abdulsalami Abubakar became the head of state and within a short time, he re-established democracy in Nigeria, arranging for general elections that resulted in the emergence of Olusegun Obasanjo assuming the presidency as the democratically elected leader of the country in 1999.

Before Mr Obasanjo took office, Mr Abubakar’s government had delivered a clear message that the late Abacha had looted huge sums, and they had to be restored. Members of the Abacha family and some of their accomplice then ‘voluntarily’ returned about $1 billion to the Federal Government. In 2002, the Obasanjo administration tentatively came to an agreement with the Abacha family to return another $1 billion out of the $1.1 billion that had been identified, traced and frozen, with the quid pro quo that the Abachas would be allowed to keep balance that had been assessed not to be of criminal origin.

The arrangement was not well received by the masses. Although the proposal caused a massive outcry for seeming to reward the theft of public funds, it was subsequently rejected by the late dictator’s son, Mohammed Abacha, who continued to maintain that all the assets in question were legitimately acquired. The highest sum that had in the past been traced to the family ranged from $3 billion to $5 billion, which includes money allegedly derived from misappropriation of funds from the Central Bank of Nigeria, bribes received from multi-nationals, among others.

The Swiss government last December said that it has so far returned to Nigeria the sum of $700 million stolen by the late dictator and deposited in several Swiss banks. In addition to freezing about $640 million, the Swiss judicial authorities handling the case have also indicted Mohammed Abacha and Atiku Bagudu under Swiss legislation regarding money laundering, fraud and taking part in a criminal organisation.

Source: http://www.leadershub.org/news/nigeria-recovers-more-billions-of-abachas-loot/

Posted: at 28-06-2013 03:42 AM (9 years ago) | Newbie
- merion at 28-06-2013 05:33 AM (9 years ago)
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gud
Posted: at 28-06-2013 05:33 AM (9 years ago) | Gistmaniac
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- winace at 28-06-2013 05:48 AM (9 years ago)
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Ok so whr are d ones recovered a long time ago. It develop legs and ran away.
Posted: at 28-06-2013 05:48 AM (9 years ago) | Addicted Hero
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- etibaba at 28-06-2013 09:11 AM (9 years ago)
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They are all thiefs.

Posted: at 28-06-2013 09:11 AM (9 years ago) | Gistmaniac
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- sonjohn994 at 28-06-2013 09:16 AM (9 years ago)
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 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes THEN WHERE IS THE MONEY
Posted: at 28-06-2013 09:16 AM (9 years ago) | Gistmaniac
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- katdeluna2 at 28-06-2013 09:29 AM (9 years ago)
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Where ar d monies or what hav u used them 4 2 better d common man's lyf? Armed robber calln som1 Thief
Posted: at 28-06-2013 09:29 AM (9 years ago) | Upcoming
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- ezchusa at 28-06-2013 09:37 AM (9 years ago)
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hmmm

Posted: at 28-06-2013 09:37 AM (9 years ago) | Gistmaniac
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- Wysetots at 28-06-2013 09:40 AM (9 years ago)
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Ok.....we agree.

BUT WHERE IS THE MONEY NOW?? Huh? Huh? Huh?

Or was it recovered and shared amongst yourselves??
Posted: at 28-06-2013 09:40 AM (9 years ago) | Hero
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- arsenal123 at 28-06-2013 09:44 AM (9 years ago)
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There are more to be recovered..
Posted: at 28-06-2013 09:44 AM (9 years ago) | Gistmaniac
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- Toks-E at 28-06-2013 09:44 AM (9 years ago)
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And where did the others they recovered go to? I bet this one will just be shared too

Posted: at 28-06-2013 09:44 AM (9 years ago) | Addicted Hero
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- dareper at 28-06-2013 09:47 AM (9 years ago)
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And where is th money now, birds of same filter. Undecided
Posted: at 28-06-2013 09:47 AM (9 years ago) | Hero
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- Shegzan at 28-06-2013 09:48 AM (9 years ago)
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Mk dem gimme part of d mney.... I ni am!

Posted: at 28-06-2013 09:48 AM (9 years ago) | Gistmaniac
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- lakman at 28-06-2013 09:53 AM (9 years ago)
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what is all this money used for?  abacha for 5 years did all this, what of ibb and obasanjo own? GOD GIVE us NIGERIANS THE SPIRIT OF LOVE TO HUMAN KIND.
we lack wisdom that all of this is vanity upon vanity. WHERE IS ABACHA NOW? we all will go there soon or later.
Posted: at 28-06-2013 09:53 AM (9 years ago) | Upcoming
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- PeacetoU at 28-06-2013 10:02 AM (9 years ago)
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Recover the money from the dead looter and let another living looter loot it.
Posted: at 28-06-2013 10:02 AM (9 years ago) | Gistmaniac
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- steveoneal at 28-06-2013 10:32 AM (9 years ago)
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Quote from: PeacetoU on 28-06-2013 10:02 AM
Recover the money from the dead looter and let another living looter loot it.
thats what they do, , you re right, they are all vagabonds in power,,, it would have been better if they dont proclaim the recovery of these loots,,they are only intentionally adding insult to our injuries,, get the money back into the country, and divide it right away btw themselves,,,,cruel being they are,, people (ohne Gnade) without mercy
Posted: at 28-06-2013 10:32 AM (9 years ago) | Gistmaniac
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- akinmanchy at 28-06-2013 10:50 AM (9 years ago)
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Hmm OK

Posted: at 28-06-2013 10:50 AM (9 years ago) | Hero
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- Noble12 at 28-06-2013 10:55 AM (9 years ago)
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wat a funny country
Posted: at 28-06-2013 10:55 AM (9 years ago) | Gistmaniac
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- angesco at 28-06-2013 11:00 AM (9 years ago)
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And so?

Nigerians are aware we are being robbed blind even by the Swiss!

Money being returned does that include the interest  it made?
Posted: at 28-06-2013 11:00 AM (9 years ago) | Gistmaniac
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- obino17 at 28-06-2013 11:06 AM (9 years ago)
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we talk of Abacha's own because he is dead,wht of others,oh because they are stl alive
Posted: at 28-06-2013 11:06 AM (9 years ago) | Newbie
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- odprince at 28-06-2013 11:11 AM (9 years ago)
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so where did the $2 billion go to?what did Obasanjo use it for?i think Obasanjo have case to answer..who is the owner of ota farm?Nigeria or Obasanjo....all of you are the same..common Electricity we don't have,,no health care,no security,no road..
Posted: at 28-06-2013 11:11 AM (9 years ago) | Gistmaniac
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