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Abacha Loot: Fresh $ 319 million in UK, France

3 Min Read

It’s been only a week since the United States repatriated $311m (N118bn) stolen during the regime of late Head of State, Gen. Sani Abacha.

The  United States in a new statement on Wednesday, says there is a separate $319m (N121bn) Abacha loot in the United Kingdom and France.

According to the US Embassy in Nigeria, there is $167m in stolen assets by Abacha in France while there is a separate $152m in the UK which is being challenged in court.

The statement read that, “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 reported earlier 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 Government of Nigeria to give $110m out of the loot to the present Kebbi State Governor, Atiku Bagudu, who is known to have close relations to the late Abacha.

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According to Bloomberg, Nigeria is seeking the permission of a UK court to take back ownership of the assets so as to return 70 percent of the loot to Bagudu under the terms of a 2018 deal,

Attorney-General of the Federation, Abubakar Malami (SAN), has, however, refuted claims of ever entering a deal with Bagudu although court papers show otherwise.

 

Meanwhile, the United States has instructed that the $311m Abacha loot  that was repatriated to Nigeria last week must be used by the Nigeria Sovereign Investment Authority for three infrastructure projects in strategic economic zones across the country, as authorised by the Nigerian government.

READ ALSO: Expert Urges FG to Establish Emergency Medical Services Institutes With COVID-19 Funds

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