$550 Million Abacha's Loot To Be Lost In The U.s - Politics - Nairaland
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FG To Disburse $322m Abacha Loot To Nigerians - Daily Trust / Nigeria To Receive Another $500 Million Abacha Loot / What Nigeria Will Do With $320 Million Abacha Loot – Buhari (2) (3) (4)
| $550 Million Abacha's Loot To Be Lost In The U.s by huthmanadam(m): 8:41pm On Jan 12, 2017 |
Nigeria presently stands to lose another 550 million dollars recovered from the Abacha’s family to the United States contrary to earlier promise to return same to Nigeria, the Chairman, Presidential Advisory Committee Against Corruption (PACAC), Prof. Itse Sagay has said. He said Nigeria risks losing this fund over stringent conditions given for the return of these loots by countries, particularly the US where some of the nation’s stolen wealth is hidden. He said such conditions include horrendous percentages that are being proposed as recovery charges by some of the countries. Sagay, who revealed this yesterday at a media dialogue on asset recovery and asset return organized by PACAC and the Office of the Special Adviser to the President on Diaspora/Foreign Affairs, said this amount is different from the earlier $480 million forfeited to the US following a court judgment in August 2014. He said these funds are just a fraction of Nigeria’s stolen wealth stashed away in foreign countries including the $505.5 million Abacha loot seized by Switzerland between 2004 and 2006. He said states including the US are bound by the United Nations Convention Against Corruption (UNCAC) to return confiscated funds to states where it originated. He said Article 3 of UNCAC ensures that “States parties are obligated to afford one another the widest measure of cooperation and assistance in ensuring that recovered assets are returned on liberal terms as much as possible.” “Tracing, seizure, forfeiture and the return of Nigeria’s assets laundered outside the country has however been a challenge especially where the support of those nations where the loots are starched away is not gotten. We need no apologies from recipients of stolen assets, our demand is the unconditional return of our stolen national patrimony”, he added. On the need for Nigerians in the diaspora to join in the advocacy to demand for the return of Nigeria’s recovered loots, Special Adviser to the President on Diaspora/Foreign Affairs, Hon. Abike Dabiri said “America has over 400 million dollars that have been officially recovered as stolen funds from Nigeria, but America is keeping the funds, they are telling us about technicalities, they are saying we recover doesn’t mean we can return. “The person who steals is just as guilty as the person who keeps stolen funds. The person who steals is a criminal; the person who keeps known stolen funds is also a criminal. You can’t give us aid of a billion dollars, and keep a billion dollars of funds you have recovered from Nigeria”, she said. She said what belongs to Nigeria should be returned to Nigeria unconditionally and that it is disturbing that countries that have earlier promised to return recovered loots are now reneging on their promises Main Source Dailytrust Newspaper Other Source www.arewakonnect..com
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| Re: $550 Million Abacha's Loot To Be Lost In The U.s by casttlebarbz(m): 8:44pm On Jan 12, 2017 |
y buhari no blame this man for recession? |
| Re: $550 Million Abacha's Loot To Be Lost In The U.s by OFFICIAL336: 9:18pm On Jan 12, 2017 |
Which loot again. I thought the President said Abacha stole nothing. |
| Re: $550 Million Abacha's Loot To Be Lost In The U.s by BlackBaron: 9:28pm On Jan 12, 2017 |
Abacha... The name that keeps on giving. Astonishing, many years after his death, we still haven't heard the last of his loots. |
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