Nigeria plans to recover $750 million looted by ex-president Abacha

According to a statement made by Attorney General and Minister of Justice, Abubakar Malami, the debts owed to the country stood at a staggering N75 billion, local newspaper Punch reported.

During his address to the House of Representative Committee on Justice, Malami disclosed plans to repatriate assets in foreign jurisdictions as well as seek the counsel of foreign-based entities to work on behalf of the Nigerian government on such matters.

In addition, Malami stated that the Nigerian government would also be seeking the recovery of an alleged £6.9m in looted funds from former Delta state governor, James Ibori.

Read Also : Switzerland refunds $300 Million Abacha loot

According to Vanguard, over $700 million in looted funds have been recovered from Abacha's offshore accounts thus far, with Switzerland agreeing to deliver a further $300 million.

The development marks the latest in a string of discoveries regarding government funds having been looted by former government officials, with the Premium Times reporting that at least $200 billion is believed to be stashed in banks and properties in Dubai and Abu Dhabi.

Nigerian President Muhammadu Buhari has since signed an agreement with the United Arab Emirates (UAE) to repatriate the stolen funds and extradite culpable officials involved in corrupt dealings.

Categories: Abacha Loot EFCC

CLICK ME TO READ MORE

Read Also : #ThankAbacha trending on twitter as Nigerians React to Switzerland $300Million Refund

Nigeria is set to receive the sum $300 million from the government of Switzerland had which is part of the estimated $5 billion stolen and kept in foreign accounts overseas by late Gen Abacha.

After the death of General Abacha in 1998,Nigeria has received over $1 billion from the Swiss and American governments in the last 10 years.

Also the government of Liechtenstein on June 25, 2014 returned $227 million dollar (over 36 Billion Naira)

READ ALSO: BALANCE OF ABACHA LOOT REVEALED

This is the third time Nigeria will be receiving the Abacha loot from the Swiss government, as an initial $700 million dollars (over 112 billion Naira) and $380 million dollars had been returned previously

READ ALSO : ABACHA IS NOT CORRUPT. HE NEVER STOLE ANY MONEY ---------- President Buhari in 2008

Following report of the loot that would be returned, #ThankAbacha is now trending on Twitter, with some Nigerians thanking him for not stealing the money but saving it for the future.

The difference between Dasuki and Abacha is this: Abacha kept money in his account, while Dasuki just wasted it. Let's thank God for Abacha.

— AYO SOGUNRO (@ayosogunro) January 12, 2016

we should be thankful to Abacha. Ogbeni was saving money for Nigeria's rainy days when he looted that much.

— Dr Koboko (@KobokoGCFR) January 12, 2016

looting Simply mean saving for the future.- Abacha (1954)

— Dr Koboko (@KobokoGCFR) January 12, 2016

Abacha was not corrupt. He just had the foresight to establish a savings account for the Federation. 😂😂

— Amara Nwankpa (@bubusn) January 11, 2016

Thank God Abacha saved the money abroad..He knew yam eaters will finish it..Lol Saving for the future!!

— el'SIRdeeq (@ElSirdeeq99) January 11, 2016

Thanks to Abacha, looting just got a whole new meaning - saving for the future. 👏🏾👌

— King Skiwo (@Skiwo) January 12, 2016

"@ebuka_akara: On the bright side, Abacha opened a savings account for Nigeria's rainy days" 'Rainy day account' (RDA)

— Ameh-xis (@Ovyko) January 12, 2016

If You Tell Me Abacha Is A Hero Seeing The Huge Money He Saved For Us I'll Agree With You. He Never Stole, He Only Saved For The Future✌🙌😏👍

— Mr. GODDY (@itsGODDY) January 12, 2016

Abacha was a good man...he foresaw this recession and planned for us well in advance. What a great man. #Nigeria

— Ameh-xis (@Ovyko) January 12, 2016

The entire PDP looting cartel dey learn for where Abacha dey.

— Ameh-xis (@Ovyko) January 12, 2016

'The great leader of our time is Abacha...' When I sang this during Calisthenics '97, I never knew what it really meant. Now I do.

— Ameh-xis (@Ovyko) January 12, 2016

Abacha died almost two decades ago and we're still recovering his loot. What a man

— King Samuel Date360 (@Naijablogger) January 12, 2016

Abacha !!!! Not Again $300million Recovered ? Guy You Are a Legendary Looter.. Every Administration Benefits from ur legendary Loot Sir

— Mayourspeaks (@Mayourspeaks) January 12, 2016

Categories: Abacha Loot Latest News

CLICK ME TO READ MORE

Balance of stolen Abacha's loot revealed

The late General Sani Abacha

The briefing was done by the Accountant-General of the Federation, Alhaji Ahmed Idris to the National Economic Council (NEC). Alhaji Ahmed Idris stated that the balance of the money stolen by the late military dictator Gen. Sani Abacha stood at $26 million and 19 million pounds as at November 2015.

Benue state Governor, Mr Samuel Ortom made the briefing during the NEC meeting which was presided over by Vice President Yemi Osinbajo at the State House on Thursday.

Categories: Abacha Loot Latest News

CLICK ME TO READ MORE