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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.
chicent2k3 at 20-06-2014 01:10 AM (9 years ago) (m)
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
Posted: at 20-06-2014 01:10 AM (9 years ago) | Upcoming
chicent2k3 at 20-06-2014 01:16 AM (9 years ago) (m)
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.....
Posted: at 20-06-2014 01:16 AM (9 years ago) | Upcoming
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.
Posted: at 20-06-2014 03:31 AM (9 years ago) | Newbie
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
Posted: at 20-06-2014 08:34 AM (9 years ago) | 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
Posted: at 20-06-2014 08:36 AM (9 years ago) | Hero
ngfineface at 20-06-2014 01:05 PM (9 years ago) (f)
This Abacha try sha. Haba! He just vex thief for 5 generations after him . 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
Posted: at 20-06-2014 01:05 PM (9 years ago) | Hero
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”
Posted: at 20-06-2014 04:23 PM (9 years ago) | Gistmaniac
chicent2k3
zobi
Juane11
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Freshlycrazy
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ngfineface
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