US reveals another $319m Abacha loot in UK, France | Ripples Nigeria
Connect with us


US reveals another $319m Abacha loot in UK, France



Nigeria govt, US finalise agreement on repatriation of $308m Abacha loot

The United States of America has revealed that there is a separate $319m (N121bn) General Sani Abacha loot in the United Kingdom and France, barely a week after it helped to repatriate $311m (N118bn) stolen by the late Head of State.

In a statement on Wednesday, the US Embassy in Nigeria said that there was $167m in stolen assets in France while there is a separate $152m in the UK which is being challenged in court.

The statement issued Thursday by the US Embassy in Nigeria reads in detail; “The funds returned last week are distinct and separate from an additional $167m in stolen assets also forfeited in the United Kingdom and France, as well as $152m still in active litigation in the United Kingdom.”

Bloomberg had reported that the repatriation of the $152m (now $155m due to interest) to Nigeria is being challenged by the UK and the US because of alleged plans by the Nigerian government to give $110m out of the money to Kebbi State Governor, Atiku Bagudu, a known associate of the late Abacha.

READ ALSO: Nigerian govt receives over $311m of the Abacha assets repatriated from the US

This development came after the Centre for Anti-Corruption and Open Leadership (CACOL) had decried the inability of government to use tranches of Abacha loot previously returned to the country to transform the dwindling fortunes of Nigeria.

The group in a statement by its Chairman, Debo Adeniran, noted that nothing tangible could be said to have happened to the people of this country even with all the looted funds being recovered or repatriated from both within and outside the country.

Join the conversation


Join the conversation



Latest Tech News