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$500m Abacha Loot Goes Missing; EFCC Launches Probe - Politics - Nairaland

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$500m Abacha Loot Goes Missing; EFCC Launches Probe by dre11(m): 6:29am On Jan 19, 2018
Posted By: Yusuf Alli, Abuja


Where is $500 million recovered from the late Gen. Sani Abacha’s family?
This is the question the Economic and Financial Crimes Commission (EFCC) is battling to answer.

The cash was recovered from the family of the late Head of State during ex-President Goodluck Jonathan’s administration.

It was repatriated from slush accounts in foreign jurisdictions.

The foreign governments, which released the loot to the Federal Government after hard negotiations, demanded that the cash be used for concrete developments, including infrastructure, such as roads, water, healthcare and education.

EFCC detectives tracking the $500million have discovered that it was diverted.

Of the $500million, about $250million was released to the Office of National Security Adviser (ONSA)during the tenure of Col. Sambo Dasuki without appropriation. The balance of $250million cannot be traced yet.

The Nation learnt that detectives discovered that the $250million was illegally withdrawn barely two months to the end of Jonathan’s administration.

Investigators are said to be working on clues that part of the cash was spent on “extraneous matters, including media services, opinion polls and personal matters”.

According to a fact-sheet on the investigation, the $250million was withdrawn between March 2, 2015 and April 21, 2015.

About $36,155,000 (N13,015,800billion) of the $250million was also withdrawn in cash “without any purpose” on March 2nd, 9th, 16th and 18th of 2015.

Detectives have retrieved documents relating to the alleged “re-looting” of the Abacha loot.
In the fact-sheet, the ONSA in a memo of January 12, 2015, asked the former Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, to transfer $300million .

The memo said: “Please refer to our meeting on recovered funds. You are pleased requested to remit the sum of $300m and £5.5m to the following account being ONSA share as agreed.

Account name: CBN (NSA Foreign Operation; Account number: -100367-USD-CABANK30
Bank; Address: 28, Finsbury Circus, London. Please accept the assurances of my highest esteem.”

Mrs. Okonjo-Iweala, in a memo to Dr. Goodluck Jonathan, requested for $300m from the Abacha loot.

Only $250million was released to the ex-NSA.
The January 20, 2015 memo said: “Attached, please find a request by the NSA for the transfer of $300m and British pounds (£5.5m) of the recovered Abacha funds to ONSA operations account.

The NSA has explained that this is to enable purchase of ammunition, security and other intelligence equipment for the security agencies in order to enable them confront the ongoing Boko Haram threat.

“His request is sequel to the meeting you chaired with the committee on use of recovered funds where decision was made that recovered Abacha funds would be split 50-50 between urgent security needs to confront Boko Haram and development needs (including a portion for the Future Generations window of Sovereign Wealth Fund).

“This letter is to seek your approval to borrow these funds, for now, to disburse to the NSA.

These funds form part of projected FG Independent Revenue to be appropriated.

“In light of this and for accountability, given the peculiar nature of security and intelligence transactions, we would expect the NSA to account to your Excellency for the utilisation of the funds.”

On January 29, 2015, the ex-President responded to the ex-Minister as follows: “CME/HMF, approved.”

To back his approval, Dr. Jonathan through his Senior Special Assistant (Admin) Matt Aikhionbare, in a memo of January 30, 2015 said: “RE: Request by NSA for transfer of funds.” I am directed to forward Ref A to you and convey to you Mr. President’s approval. Humbly submitted for your further action, Ma’am.”

Detectives have discovered that only $250million out of the $300million requested was paid to ONSA.


16/2/15
In a letter of February 16, 2015, the then Director of Funds of the Office of the Accountant-General of the Federation, Mr. M.K. Dikwa, in a memo to the CBN Governor, conveyed the mandate to transfer the $250million.

The memo said: “. You are hereby requested to immediately effect fund transfer as below($250m) being amount disbursed to enable for the purchase of ammunition, security and other intelligence equipment for the security agencies in order to enable them fully confront the ongoing Boko Haram threat.

“As per Mr. President’s approval on CME-HMF/FMF/2015/18 dated 20th January 2015 conveyed via State Houses letter No PRES/87/MF /-2/520 dated 30th January 2015. NSA’s letter Ref. No. NSA/362/5 dated 5th March 2015 also refers.”

A source said: “The $250million was duly approved by ex-President Goodluck Jonathan; the ex-NSA did not commit any infractions. He acted in the interest of the country.

It is incorrect for EFCC to assume that the $250million was diverted because it was used to purchase vital equipment.”

A table of how the $250million was spent was obtained by our correspondent last night.

An EFCC source, who spoke in confidence, said: “We will need to interact with the former Minister of Finance, Okonjo-Iweala, to guide us on the contents of her letter, especially on the legality of the withdrawal of the $250million.

“We will find out what she meant by to ‘borrow these funds’ and these ‘funds form part of projected FG Independent Revenue to be appropriated.’ She should assist investigators on whether or not the ex-NSA accounted to Jonathan for the ‘utilization of the funds.’

A former Chairman of the EFCC, Mallam Nuhu Ribadu, had claimed that Abacha “took over $6 billion from Nigeria”. He also said $2 billion was recovered when he was in charge of the anti-graft agency.

The Socio-Economic Rights and Accountability Project(SERAP) had through its Executive Director, Adetokunbo Mumuni, on 21 September 2015 sent an access to information request to the President, World Bank Group, asking him to “exercise the bank’s prerogative to release documents relating to spending of recovered assets stolen by late Gen. Sani Abacha”.

SERAP asked the World Bank President to “disclose information about the Bank’s role in the implementation of any projects funded by the recovered assets and any other on-going repatriation initiatives on Nigeria with which the bank is engaged.”

It said: “The request is pursuant to the World Bank’s Access to Information Policy (The Policy), approved by the Board on June 30 2015. SERAP notes that one of the policy’s guiding principles is to maximise access to information.

There is also clear public interest in Nigerians knowing about the Bank’s supervisory role and specifically its involvement in the implementation of projects on which repatriated funds were spent.”

But Okonjo-Iweala in 2015 insisted that she had no case to answer.

She said: “Former President Jonathan set up a Committee comprising the former Minister of Justice, former NSA and the former Minister of Finance to determine how best to use both the returned and expected funds for development.

“The NSA made a case for using the returned funds for urgent security operations since, he noted, there cannot be any development without peace and security. Based on this, a decision was taken to deploy about $322m for the military operations, while the expected $700m would be applied for development programmes as originally conceived.

“Following the discussions and based on the urgency of the NSA’s memo, Dr Okonjo-Iweala requested the President to approve the transfer of the requested amount to the NSA’s Office for the specified purposes.

“But, as captured in the memo, she insisted on three conditions:

a. only a part, not the entire Abacha funds would be spent on the arms; the rest would be invested in developmental projects as originally conceived

b. the money was to be treated as borrowed funds which would be paid back as soon as possible

c. the NSA’s office was to account for the spending to the President who was the Commander in Chief, given the fact that the Minister of Finance is not part of the security architecture and does not participate in the Security Council.

“The attempt to link the former Minister’s name to any misuse of these funds for any purpose other than security as far as she understood it is totally false and cannot stand.”


http://thenationonlineng.net/efcc-launches-probe-500m-abacha-loot-goes-missing/

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by zakim(m): 6:31am On Jan 19, 2018
Robbers everywhere...

25 Likes 1 Share

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by pyyxxaro: 6:31am On Jan 19, 2018
tongue


The next person shud pls summarize this Tharaaja textbook for me undecided

16 Likes

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by Firefire(m): 6:36am On Jan 19, 2018
Wonderful development...


'Buhari, long before he was elected president, stubbornly insisted that Abacha “never stole”, and that he was not corrupt. “Illegally taken from Nigeria” is a ploy to sidestep the word: “stolen”. “Under Abacha” portrays it as if other people, not Abacha himself, committed the “illegality” without Abacha’s knowledge.

If Buhari had been the one elected as the civilian president of Nigeria in 1999, would he even be talking about receiving money from Swiss Government “illegally taken away” under his regime since he maintains, against all concrete evidence, that Abacha never stole our money? So, is it only when a person deals with us and dies that he becomes corrupt, but when he treats us nicely (as Abacha did to Buhari) he becomes a “saint”? If Abacha had not rehabilitated Buhari after being jailed by Babangida; If Abacha had not appointed him as the Executive Chairman of the defunct Petroleum Trust Fund (PTF), where he was given unlimited powers to spend billions of Naira between 1996 and 1998, would Buhari have stuck out his neck for him and say he was not corrupt?'

Read more at: https://www.vanguardngr.com/2016/05/abacha-never-stole/

30 Likes 3 Shares

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by LionDeLeo: 6:41am On Jan 19, 2018
"The cash was recovered from the family of the late Head of State during ex-President Goodluck Jonathan’s administration."

Despite the huge revenue accrued, free fall of foreign reserve, depletion of ECA, apart from cheap imported rice, nothing to show.

Now, even recovered loots grew wings, nawao.

And the truncation of this system is the reason some reprobates from Uganda are getting themselves killed.

24 Likes 5 Shares

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by usba: 6:41am On Jan 19, 2018
They loot the loot

19 Likes

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by abiolert(m): 6:49am On Jan 19, 2018
with this action of the previous govt i strongly believe that the pdp should just hide their head in shame. This is a national embarrasment,you accused a man of stealing with proof and seized this huge stack of cash in the name of national interest. For me, that cash must be recovered at all cost even if it requires going after jonathan, i don't care.

27 Likes 3 Shares

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by aolawale025: 6:56am On Jan 19, 2018
Another story created with deception in mind. Where is the current abacha loot?

61 Likes 4 Shares

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by BeeBeeOoh(m): 6:57am On Jan 19, 2018
abiolert:
with this action of the previous govt i strongly believe that the pdp should just hide their head in shame
Where is the current recovered Abacha loot?

77 Likes 7 Shares

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by Meajor(m): 6:57am On Jan 19, 2018
Shebi 2019 election is by the corner? D useless EFCC go start terrorize the opposition... My own be say make dem scrap EFCC...
Or rather when dakwambo win, make him carry fayose as his vice... Den handle anti corruption affairs to him, shikenan... Only fayose can do dey job

29 Likes 2 Shares

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by okosodo: 7:04am On Jan 19, 2018
Thr monies going under this mumu buhari is now $61,0000090. Less than 1/10000 of the money that got missing under Jonathan's six years rule. But some fools still mastrbate when they hear Jonathan

25 Likes 3 Shares

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by LionDeLeo: 7:06am On Jan 19, 2018
aolawale025:
Another story created with deception in mind. Where is the current abacha loot?
Were you told it is missing? Or it should be brought to your house?

4 Likes 1 Share

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by abiolert(m): 7:07am On Jan 19, 2018
BeeBeeOoh:
I guess the said $500m recovered Abacha loot grew wings under the leadership of PDP and flew away?




People boku for this life oh
me wey carry bag of cement nor better pass you wey na d dangote trailer and d whole cement you carry join. agbaya. wey nor dey comprehend before e dey rush to type rubbish.

3 Likes

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by Homeboiy: 7:11am On Jan 19, 2018
What a country we have

2 Likes

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by PointZerom: 7:17am On Jan 19, 2018
LionDeLeo:
"The cash was recovered from the family of the late Head of State during ex-President Goodluck Jonathan’s administration."

Despite the huge revenue accrued, free fall of foreign reserve, depletion of ECA, apart from cheap imported rice, nothing to show.

Now, even recovered loots grew wings, nawao.

And the truncation of this system is the reason some reprobates from Uganda are getting themselves killed.




I thought that the children of DOOM and their 21st century walking corpse father (Buhari) said that Abacha never stole?.

46 Likes 7 Shares

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by abiolert(m): 7:23am On Jan 19, 2018
BeeBeeOoh:
Where is the current recovered Abacha loot?
it seems you cannot comprehend very well. I guess you are with the said cash abi?

1 Like

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by LionDeLeo: 7:26am On Jan 19, 2018
[s]
PointZerom:



I thought that the children of DOOM and their 21st century walking corpse father (Buhari) said that Abacha never stole?.
[/s]
Is that why this statement below can never be proven?

4 Likes 1 Share

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by Lomprico2: 7:32am On Jan 19, 2018
Hahahahahaha

Buhari don tell una say abacha never stole, una carry the money whey him talk say dem no tif give am, what do u expect?

Now the terrorist have proof that abacha never stole!! If u doubt him, where is d money stolen?? grin grin grin

7 Likes 1 Share

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by SalamRushdie: 7:33am On Jan 19, 2018
LionDeLeo:
"The cash was recovered from the family of the late Head of State during ex-President Goodluck Jonathan’s administration."

Despite the huge revenue accrued, free fall of foreign reserve, depletion of ECA, apart from cheap imported rice, nothing to show.

Now, even recovered loots grew wings, nawao.

And the truncation of this system is the reason some reprobates from Uganda are getting themselves killed.



I thought your dollars if a president said Abacha never stole a dime so what money are we even talking about here..As election approaches Buharing is just honing is witch hunt skills

21 Likes 1 Share

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by LionDeLeo: 7:36am On Jan 19, 2018
[s]
SalamRushdie:


I thought your dollars if a president said Abacha never stole a dime so what money are we even talking about here..As election approaches Buharing is just honing is witch hunt skills
[/s]
FarahAideed, if you like, change moniker a million times, thieves will be brought to book and the "dullard" will be reelected if he seeks re-election.

4 Likes 1 Share

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by diegwu01: 7:38am On Jan 19, 2018
For many years and decades to come, the Story of the PDP and Goodluck Jonathan's looting escapades may never end.
The Stories are New Every Morning.

3 Likes 1 Share

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by onojiwizardgmailcom(m): 7:40am On Jan 19, 2018
Another elaborate attempt to distract Nigerians from the issues at hand. If EFCC has any evidence they should just go ahead and invite whom ever they suspect without putting it on media, this EFCC is not serious about fighting corruption, it only interest in promoting the government insatiable need for propaganda

25 Likes 2 Shares

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by Nobody: 7:41am On Jan 19, 2018
What stops them from recovering the money quietly?

3 Likes 1 Share

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by gulfer: 7:56am On Jan 19, 2018
pyyxxaro:
tongue


The next person shud pls summarize this TharaajaTheraja textbook for me undecided
That modern physics nearly scatter man head. angry angry angry

2 Likes

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by Adekdammy: 7:58am On Jan 19, 2018
If this government continues to tow this path of using social media to fight corruption, a time will come, majority will not take them serious again.

The court is there to try looters and why feed the papers with inconclusive investigation, at the end of the day, nothing will happen.

Abi because election is around the corner, you want to distract us with this news, we focus on this and ignore the state of the nation, it can't work.

10 Likes 3 Shares

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by pyyxxaro: 8:04am On Jan 19, 2018
gulfer:
That modern physics newly scatter man head. angry angry angry




wink
Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by Mufasa27(m): 8:08am On Jan 19, 2018
pyyxxaro:
tongue


The next person shud pls summarize this Tharaaja textbook for me undecided
Abacha loot has been re-looted

1 Like 1 Share

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by Nobody: 8:10am On Jan 19, 2018
In the 1st quarter of last year, the federal government promised to release the breakdown of funds recovered and from whom. Till this moment, I assume that has not been done.

Is this not the same government that announced on social media how funds were stolen by an MDA, only for them to admit that the funds were indeed in their accounts. What then were they investigating?

The use of social media by this govt to prejudice investigative matters that have not been concluded is embarrassing. http://thenationonlineng.net/kukah-efcc-stop-drama-discovered-funds/

8 Likes 1 Share

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by pyyxxaro: 8:11am On Jan 19, 2018
Mufasa27:

Abacha loot has been re-looted




So the looter and lootee has been loooted

That's interesting
Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by Omeokachie: 8:26am On Jan 19, 2018
"Abacha never stole" - Buhari


So what money is EFCC talking about?

2 Likes

Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by DIKEnaWAR: 8:52am On Jan 19, 2018
Hahahahaha aha haaaa....

This government has taken the whole game to a whole new level. "Looting the looter" . Thats a whole new game. If you probe very well , it is Abba Kyari, Malami and Buhari by proxy that stole that money for 2019 elections and sharing. They will come out and lie and pretend and the daft and hungry ones here will be defending them on empty stomachs.

Meanwhile, little Emmanuela the comedienne is richer than those defending the government here. Richer than them and their generations.
Re: $500m Abacha Loot Goes Missing; EFCC Launches Probe by matmat(m): 8:53am On Jan 19, 2018
I can see everything turning around....


NaijaPolitics.....

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