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Prof. Itse Sagay, Chairman, Presidential Advisory Committee Against Corruption (PACAC), on Thursday said Nigeria risks losing another $550 million recovered from the Abacha family to the United States.

Sagay disclosed this at a media conference on asset recovery jointly organised by PACAC and the Office of the Senior Special Assistant to the President on Foreign Affairs and the Diaspora.

“Nigeria presently stands to lose another S550 million recovered from the Abacha family to the U.S., contrary to the earlier promise by the U.S. to return same to Nigeria,” he said.

Sagay said the amount represented a separate tranche from the earlier $480 million forfeited to the U.S. following a court judgment in August 2014.

He said that the stringent conditions for repatriation being given by the countries in which some of the nation’s stolen wealth was stashed contradicted the earlier promises made.

He expressed concern at the country’s challenges in the tracing, seizure, forfeiture and return of Nigeria’s assets laundered outside the country.

According to Sagay, the challenges include stringent conditions and other uncooperative attitude of the countries in possession of the stolen funds.

“Out of the Abacha loot for instance, Switzerland seized over $505.5 million between 2004 and 2006. The UK recovered 2.7 million dollars from Alamieyeseigha’s account in London in 2005.

“Alamieyeseigha’s home and other real estate as at 2005 was estimated at over 15 million dollars,’’ Sagay said.

Senior Special Assistant to the President on Foreign Affairs and Diaspora, Abike Dabiri-Erewa, called for the unconditional return of Nigeria’s looted fund.

Dabiri-Erewa, who said asset recovery was different from asset returning, decried the uncooperative attitude of the countries where the stolen funds were being stashed.

“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 recovered doesn’t mean we can return.

“We want every Nigerian in Diaspora, friends of Nigeria, to join this committee in demanding that every Nigeria’s stolen fund recovered in any part of the world should be returned to Nigeria,” she said.

According to her, 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 liable.

“You can’t give us aid of one billion dollars and keep one billion dollars of funds you have recovered from Nigeria.

“So we will join the committee to embark on an advocacy with Nigerians outside the world to appeal to these nations to do everything possible to return what belongs to Nigeria,”she said.

cc lalasticlala seun

SOURCE: http://www.nairanaijanews.com/2017/01/us-blocks-550m-sani-abacha-loot.html

Hmmmm.... na wa ooo

Buhari said Abacha never stole.

J

They already know we have a wasteful govt

and they will Blame Gej for Nigeria's misfurtune

This loot no dey finish... mk dem keep interest pay d actual money.. or else we no go collect dis money finish

Ha
Abacha was no looter .

America hated Abacha because he cannot be controlled and he turned away World Bank and IMF

This is the simple truth.

Buhari the stupidd dullardd has included this Abacha loot in this year budget

GenBuhari:
Ha
Abacha was no looter .

America hated Abacha because he cannot be controlled and he turned away World Bank and IMF

This is the simple truth.

You get sense so?

get some perspective the whites have stolen massively more than they are maliciously and dishonestly attributing to Abacha. Get some perspective 550m is just half of $1bn, but nobody is talking of our missing hundreds of billions od dollars - $200bn-$300bn that was stolen since Abacha's passing.

Wake the h.. up people !

cstr55:

haha.
Alright then. Whatever Nigerian monies from that era that are in US control would be used for the US economy since according to buhari ,abacha never stole.

How ironic that you should direct such a comment to me.

EmoBoy:


You get sense so?

Abacha never looted

heres the proof

What self respecting looter would turn down oppportunity to take IMF and World Bank loans ?

Think about that.

enigma3000:
and they will Blame Gej for Nigeria's misfurtune

the one they first return to your ineffectual buffoon how did he used it

Your ineffectual buffoon is the reason for Nigeria misfortune

Hmm this seems to wild to believe. I would be happy to sign Petition or email politicians in charge of committee related to this.

This Abacha loot no dey finish?

https://www.youtube.com/watch?v=zjEhh16FiTI

Falana criticises US govt over release of Abacha's loot

Human rights lawyer, Mr Femi Falana has expressed disappointment at the US’ handling of the Abacha loot. but the US Deputy Chief of Mission underlined the procedures involved.

GOD BLESS PRESIDENT DONALD J. TRUMP!

MAY ORUMILA SHAME OBAMA FOR PLOTTING ISLAMIZATION OF NIGEREA.

Yeeee! Today is MMM's eve (Watch Night). I dey go buy knockout....*hehehe* Who wants"abisco"?...

menstrualpad:
Buhari said Abacha never stole.

What is the relevance of that question to the subject discussed!!!

This government has not demonstrated to be an upright one also.

A government where there is cabal within the presidency fighting the head of anti corruption agency.

The other generals that led the country were as corrupt as abacha.

They are pursuing abacha alone because he is no more.

They should, Buhari said abacha never stole.

How did Obama 8 years of leadership even benefited us Africans? The guy Na green snake under green grass.

Northerners are the biggest thieves