Liechtenstein Returns ₦35.2bn Abacha Loot To Nigeria Next Week -FG

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(m) at 19-06-2014 11:26PM (5 years ago)

(7128 | Gistmaniac)

Poster is not responsible for the Major Headline outside this page…..

Liechtenstein returns ₦35.2bn Abacha loot next week –FG
Liechtenstein, is a doubly landlocked alpine country in Central Europe, bordered by Switzerland to the west
and south and by Austria to the east and north.


Sani Abacha........

The Punch

June 19, 2014


The Federal Government on Thursday said it would, on June 25, receive the sum of €167m or $227m (About ₦35.2bn) from the Government of the Principality of Liechtenstein as part of the looted funds recovered from the family of the late Head of State, Gen. Sanni Abacha.

The Minister of Finance, Dr Ngozi Okonjo-Iweala, confirmed the development in a statement by her Special Adviser on Communication, Mr Paul Nwabuikwu.

The return of the funds is the culmination of a 16-year effort by the Federal Government for its retrieval.

The statement said already, President Goodluck Jonathan would set up an inter-ministerial committee to ensure the proper utilisation of the funds.
The committee would be saddled with the responsibility of identifying  the best projects and programmes in which to invest the funds.

The President has also directed that part of the funds be saved in the Future Generations Fund, one of the Funds managed by the Nigerian Sovereign Investment Authority to help secure the economic future of both Nigerian youths and unborn Nigerians.

The statement noted that in line with the agreement reached with the Principality of Liechtenstein, the World Bank would assist in monitoring the utilisation of the funds in specific projects.
The statement reads in part, “We can confirm that Nigeria will on June 25, 2014 receive the sum of €167m ($227m) from the Government of the Principality of Liechtenstein, part of looted funds recovered from the Abacha family.

“To ensure the proper utilization of the funds, President Goodluck Jonathan is constituting an inter-ministerial committee to identify the best projects and programmes in which to invest the funds.

“The President has also directed that part of the funds be saved in the Future Generations Fund, one of the Funds managed by the Nigerian Sovereign Investment Authority to help secure the economic future of both Nigerian youths and unborn Nigerians.”

“In line with the agreement reached with the Principality of Liechtenstein, the World Bank will assist in monitoring the utilization of the funds in specific projects.”

Working under the leadership of Jonathan, the Attorney General of the Federation, Mr Muhammad Adoke, led the effort with the support of Okonjo-Iweala and the National Security Adviser, Col. Sambo Dasuki (retd), for the release of the fund.

The return of the funds was delayed by the suit instituted at the European Court of Human Rights by companies owned by the Abachas, alleging infringement of their rights to fair trial and to peaceful enjoyment of their possessions.

As a result, the government of Liechtenstein could not proceed with the return of the funds.

To demonstrate the commitment of the Federal Government to retrieving the funds, the Attorney-General of the Federation also filed a suit against the son of the late Abacha, Mohammed, before the Abuja High Court.
As part of the negotiations to expedite the recovery of the funds, the Abachas agreed to discontinue their suit before the ECHR.

The Federal Government also equally subsequently withdrew the case against the Abachas, paving the way for the release of the looted funds by Liechtenstein.



papadip (m) at 20-06-2014 12:03AM
(7128 | Gistmaniac)

Congratulations to all the politicians concerned…..
…make u na share the windfall well well......

Reply
chicent2k3 (m) at 20-06-2014 01:10AM
(336 | Upcoming)

Lemme sound like dareper." who cares".......after they will stolen all the money and they would said that their government is working. up Biafra!!!....lol
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chicent2k3 (m) at 20-06-2014 01:16AM
(336 | Upcoming)

TIPS TO REDUCE WEIGHT: first turn your head to the left and
then turn it to the right. Repeat this exercise anytime you are
offered something to eat.....
Reply
zobi (m) at 20-06-2014 02:30AM
(172 | Upcoming)

How about use the funds to overhaul the MM airport?Huh?
Reply
Juane11 (f) at 20-06-2014 03:31AM
(16 | Newbie)

What is MM airport has to do with this fund? If Obasanjo released the fund he looted then we can talk about that to favor the Yorubas, I think Obasanjo has looted more money than Abacha, it is when he dies the world bank will detect the money looted. Yorubas and Hausas have been looting all the one meant to develop this country for over 40 years. A thief only comes to steal and to destroy because they all know that very soon Nigeria will separate that was the reason why they loot all they looted, The Yorubas and The Hausas flock together.
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Juane11 (f) at 20-06-2014 03:32AM
(16 | Newbie)

OPC AND BOKO HARAM
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newtoncruz (m) at 20-06-2014 05:06AM
(970 | Upcoming)

THEY WILL STILL RECOVER MORE
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osamabinladin (m) at 20-06-2014 06:59AM
(13447 | Hero)

Noted !
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dollar22 (m) at 20-06-2014 07:40AM
(1099 | Gistmaniac)

NA TODAY
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dickman2 (m) at 20-06-2014 08:12AM
(34105 | Addicted Hero)

to who and when..na lie...
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schmit (f) at 20-06-2014 08:34AM
(11810 | Hero)

Really? But this our politicials get mind oo ,dem go just dey thief like mad people , no full stop, well if for say money fit buy life, with the money when dis man get e for no die , nonsense.
No be only him oo, na all of them, any politicians when say e never thief naija money na lie, na so God go dey catch them one by one
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schmit (f) at 20-06-2014 08:36AM
(11810 | Hero)

DAT money fit start the project of dis electricity wahala when dey make naija loose citizens to Generator wahala, make dem use d money, dem dey say future purpose d ones when dem born never see food chop, hiss
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tankNZ (m) at 20-06-2014 09:36AM
(482 | Upcoming)

Interesting.
Reply
Freshlycrazy (m) at 20-06-2014 09:54AM
(1128 | Gistmaniac)

Abachas' legacy lives on
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DMG17 (m) at 20-06-2014 10:37AM
(1477 | Gistmaniac)

LETS JUST HOPE THAT THE WHOLE SUM GOES INTO THE STATE COFFERS AND NOT REDIRECTED INTO UNKNOWN ACCOUNTS.
Reply
ngfineface (f) at 20-06-2014 01:05PM
(8983 | Hero)

This Abacha try sha. Haba! He just vex thief for 5 generations after him Roll Eyes Roll Eyes Roll Eyes. Now the question is not recovery. The question here is - where do govt keep the money recovered or what do they do with it? All we hear is recovery and after that, case is closed. Mtcheeeeew
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papadip (m) at 20-06-2014 04:22PM
(7128 | Gistmaniac)

Quote from: DMG17 on 20-06-2014 10:37AM
LETS JUST HOPE THAT THE WHOLE SUM GOES INTO THE STATE COFFERS AND NOT REDIRECTED INTO UNKNOWN ACCOUNTS.
This loot will not reach the shores of Nigeria….that simple.
Reply
papadip (m) at 20-06-2014 04:23PM
(7128 | Gistmaniac)

Quote from: Juane11 on 20-06-2014 03:31AM
What is MM airport has to do with this fund? If Obasanjo released the fund he looted then we can talk about that to favor the Yorubas, I think Obasanjo has looted more money than Abacha, it is when he dies the world bank will detect the money looted. Yorubas and Hausas have been looting all the one meant to develop this country for over 40 years. A thief only comes to steal and to destroy because they all know that very soon Nigeria will separate that was the reason why they loot all they looted, The Yorubas and The Hausas flock together.
You are just a very sick “Animal
Reply
cadanre (f) at 20-06-2014 08:11PM
(9186 | Hero)

Nigeria have bigger thieves now. The money will automatically be re-looted right from the airport.

Reply
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