Former President Olusegun Obasanjo said he left in the national treasury over N287bn, made up of $2bn, £100m and N10bn in cash and property, being the loot recovered from the late dictator, Gen. Sani Abacha.
Obasanjo left office as President in 2007 after serving two terms of eight years and handed over to the now late former President Umaru Yar’Adua.
The N287bn figure was arrived at using an average exchange rate of N125.88 to a dollar in 2007 and an average exchange rate of N247.99 to a pound in the same year.
The former President said the funds were paid into the treasury through the Central Bank of Nigeria.
Obasanjo’s revelation was contained in the Vol. II of his memoir, My Watch. His take on the Abacha loot is slotted under the sub-heading “Recovery of looted funds” on pages 494 and 495.
He said, “In total, by the time I left government in May 2007, over $2bn and £100m had been recovered from the Abacha family abroad, and well over N10bn in cash and properties locally. All were paid to the public treasury through the Central Bank.
“Enrico (Monfrini, a Swiss lawyer) told me by the time I left government that if he continued to get support for his work, there was still about $1bn he believed he could still recover from the Abacha family and cronies.”
The former President said that there was a time he got a report that £3m cash was seized from an agent of the late military dictator by customs officials at an airport in UK and that the British authorities asked the Nigerian government to prove ownership of the money.
He said the British government however refused to release the money to Nigeria despite showing details that it was taken from the CBN.
“I went to London to have a meeting on another important issue with (former British Prime Minister) Tony Blair and I took the opportunity to raise the issue of the £3m, using the Yoruba anecdote of the thief who stole palm oil from the ceiling cupboard by getting somebody to help him so as not to spill the red palm oil on himself or the floor. The man who assisted became an accomplice. Tony got the message and the £3m was released to Nigeria the following day,” Obasanjo stated.
A former finance minister in the Obasanjo administration, Dr. Ngozi Okonjo-Iweala, told The PUNCH last year through her Special Adviser on Communication, Mr. Paul Nwabuikwu, that contrary to reports that the sum of $2bn was recovered from the Abacha’s loot, only $500m was recovered under her as Obasanjo’s finance minister.
The minister made the clarification amid differing figures on the actual amount recovered.
For example, the pioneer Chairman of the Economic and Financial Crimes Commission, Mallam Nuhu Ribadu, had in November 2006, in London, said Abacha looted over $6bn from Nigeria and that $2bn of the loot had been recovered.
He mentioned same figure in the same month during the 12th International Anti-Corruption Conference in Guatemela and later in Dakar, Senegal, at the 2nd Annual High Level Dialogue on Governance and Democracy in Africa.
www.punchng.com/news/obasanjo-i-left-n287bn-abacha-loot-in-treasury/

Hmmmm Gej's theory of "Goat and Yam" comes to my mind....EBORA OWU hs spoken

!

Where is the message money now. Looted?

lalasticlala

Abacha didn't loot anything from Nigeria according to Saint buhari. Obj, please take note.

Baba iyabo wan scaam us again'''' One man I somucH respect' d iroko' Mess with baba, and see how frustrating ur life will be ''''' who come chop D money? Could it be yaradua of blessed memory , Baba, abeg noor lie against d dead oooo

Well well

......And someone mismanaged it


Ur guess is as gud as mine

In Otuoke clown voice*I'm not a thief/wetin I steal wey una nor allowed me to rest?Common 287 billion Naira,it's not stealing*All those miserable TANist should be jail.Mama Okonjo wahala/diesel Madueke have case to ansa

SUPER STORY , story's that tough

alexistaiwo:
Former President Olusegun Obasanjo said he left in the national treasury over N287bn, made up of $2bn, £100m and N10bn in cash and property, being the loot recovered from the late dictator, Gen. Sani Abacha.
Obasanjo left office as President in 2007 after serving two terms of eight years and handed over to the now late former President Umaru Yar’Adua.
The N287bn figure was arrived at using an average exchange rate of N125.88 to a dollar in 2007 and an average exchange rate of N247.99 to a pound in the same year.
The former President said the funds were paid into the treasury through the Central Bank of Nigeria.
Obasanjo’s revelation was contained in the Vol. II of his memoir, My Watch. His take on the Abacha loot is slotted under the sub-heading “Recovery of looted funds” on pages 494 and 495.
He said, “In total, by the time I left government in May 2007, over $2bn and £100m had been recovered from the Abacha family abroad, and well over N10bn in cash and properties locally. All were paid to the public treasury through the Central Bank.
“Enrico (Monfrini, a Swiss lawyer) told me by the time I left government that if he continued to get support for his work, there was still about $1bn he believed he could still recover from the Abacha family and cronies.”
The former President said that there was a time he got a report that £3m cash was seized from an agent of the late military dictator by customs officials at an airport in UK and that the British authorities asked the Nigerian government to prove ownership of the money.
He said the British government however refused to release the money to Nigeria despite showing details that it was taken from the CBN.
“I went to London to have a meeting on another important issue with (former British Prime Minister) Tony Blair and I took the opportunity to raise the issue of the £3m, using the Yoruba anecdote of the thief who stole palm oil from the ceiling cupboard by getting somebody to help him so as not to spill the red palm oil on himself or the floor. The man who assisted became an accomplice. Tony got the message and the £3m was released to Nigeria the following day,” Obasanjo stated.
A former finance minister in the Obasanjo administration, Dr. Ngozi Okonjo-Iweala, told The PUNCH last year through her Special Adviser on Communication, Mr. Paul Nwabuikwu, that contrary to reports that the sum of $2bn was recovered from the Abacha’s loot, only $500m was recovered under her as Obasanjo’s finance minister.
The minister made the clarification amid differing figures on the actual amount recovered.
For example, the pioneer Chairman of the Economic and Financial Crimes Commission, Mallam Nuhu Ribadu, had in November 2006, in London, said Abacha looted over $6bn from Nigeria and that $2bn of the loot had been recovered.
He mentioned same figure in the same month during the 12th International Anti-Corruption Conference in Guatemela and later in Dakar, Senegal, at the 2nd Annual High Level Dialogue on Governance and Democracy in Africa.
www.punchng.com/news/obasanjo-i-left-n287bn-abacha-loot-in-treasury/

Ok

Ok

eleko1:
In Otuoke clown voice*I'm not a thief/wetin I steal wey una nor allowed me to rest?Common 287 billion Naira,it's not stealing*All those miserable TANist should be jail.Mama Okonjo wahala/diesel Madueke have case to ansa

funny

The same old story, Obj gradually turning himself to Double J aka Bobo Juice " Big big talk master.

D poster abov mi is sick...meanwhile true true baba left evn our foreign rezrv boom?.abt $35bn o so!

Obasanjo should explain vividly if Ota farm is Nigeria property or his personal asset.

stickncarrot:
Obasanjo should explain vividly if Ota farm is Nigeria property or his personal asset.

like seriously........ u gotta be kidding me.

Wat dos d man want sef??...looks like he wants a seat as a minister

Mrs. Abacha's University should be recovered as part of the loots and in stemming corruption.

Sunexy:
Wat dos d man want sef??...looks like he wants a seat as a minister

in his dreams

embezzled by a single soul, recovered by the government and shared among the few.
it was during this period Nigerians saw the rise in billionaires. dangote, adenuga, jimoh Ibrahim etc

Buhari will never do a thing like that, that will amount to probing himslef. Remember that OBJ who carried out the probe of PTF that Buhari chaired, confirmed that (1) instead of buying drugs PTF was buying mosquito net, and (2) where PTF is supposed to have bought something for N10, they quoted N50 (that is 400% mark-up). Now, an ignorant man will take it from the face value as N50, but imagine that PTF gave Nigeria a financial statement showing they spent $5bn, from OBJ's statistics, it means that the actual invoice should have been $1bn. So Nigeria lost a whole lot of $4bn. PTF was a drain pipe Buhari and Abacha used to enrich themselves and their cronies. That is why Buhari calls him a saint.

Remember also that the the over $2bn Nigerian money that went missing in NNPC account when Buhari was Petroleum minister occurred under OBJ a head of state. Only Buhari and OBJ knows what happened to that raw cash.

ademega:
embezzled by a single soul, recovered by the government and shared among the few.
it was during this period Nigerians saw the rise in billionaires. dangote, adenuga, jimoh Ibrahim etc

na so

alexistaiwo:

like seriously........ u gotta be kidding me.

If he can't , he should shut de fu3k and remain shielded by (Mu)² Buhari

nnachukz:
Abacha didn't loot anything from Nigeria according to Saint buhari. Obj, please take note.

Lie! What Buhari said, which is legally right, was that all that had been said about Abacha looting the treasury remained an allegation.

Obj is a bigger thief

K

clevadani:
Obj is a bigger thief

hmmmmm

Even if OBJ left 100 trillion dollars, he's still the reason why Nigeria is in this backward state.

If he had done what he's suppose to do, we won't be in this mess. Even you botch 3 term bid show you have an insatiable appetite for power!.