Even though he is no more, General Sani Abacha has been humorously described as one of the ancestors of Nigeria who has been donating money generously to successive governments from the land of the dead as his loot was outrageous.

He’s a man of multiple impressions. To some people, he was an enigma. To others, he was humane. But to many, he was simply a mean dictator and the man who wore the thickest goggles in town. Yet, some quarters preferred him as a consummate soldier, leader par excellence, trailblazer, stabilizer and strategist.

The Man Abacha
That was the late General Sani Abacha, Nigeria’s former Head of State between 1993 and 1998.
The name ‘Abacha’ resonates across Nigeria. He rose through the military ladder to the top echelon.
On December 31, 1983 when the army removed then President Shehu Shagari from power to give way for Gen. Muhammadu Buhari, Abacha announced the power takeover. He also co-announced the coming of the Babangida regime with Gen. Joshua Dogoyaro and it was in that regime that he served as the chief of the army staff.
On November 17, 1993, Abacha took the reins of power after sacking the Shonekan interim administration where he served as Defence Minister. From that day to June 7, 1998, Abacha reigned supreme and maximally. Since he died, however, his name has continued to resonate for mostly the wrong reasons of corruption, fraud and financial embezzlement.
Loot
Many believe that his regime encouraged corruption by stashing away illicit funds in foreign bank accounts. One huge surprise about the saga, however, is that it’s been 22 years since Abacha passed on, yet government after government have continued to talk about Abacha loot. Though it may be difficult to place a hand on the figure stolen and hidden in many offshore accounts, Transparency International once said Abacha may have stolen up to $5bn between 1993 when he assumed office and 1998 when he died. Of this amount, successive governments made recoveries.
Recall that there have been one military leader and four civilian Presidents since the passage of the maximum ruler: General Abdulsalami Abubukar from June 8, 1999 to May 29, 1999; President Olusegun Obasanjo from May 29, 1999 to May 29, 2007; President Umaru Musa Yar’Adua from May 29, 2007 to May 6, 2010; President Goodluck Jonathan from May 6, 2010 to May 29, 2015; and President Muhammad Buhari who assumed office on May 29, 2015.

Recoveries
The recovered monies were principally stashed away in four major countries: Switzerland, Jersey Island in United Kingdom, United States and Liechtenstein. During the Abdulsalami era in 1999, $750 million was recovered. Under the Obasanjo administration, $1.2 billion was recovered in 2002; $149 million from Jersey Island, UK in 2003; $500 million recovered in 2004 from Switzerland and another $458 recovered in 2005 from Switzerland. During the Jonathan administration, $1 billion was recovered in 2012 and $380 million in 2015, both tranches from Switzerland. The Jonathan administration also recovered $227 million from Liechtenstein in 2014 and $48 million from the United States the same year.

The government of Buhari government recovered $322 million from Switzerland in 2017 and $308 million from Jersey Island, United Kingdom in February 2020 which is the most current. Of the four countries, Switzerland tops the list of recoveries. A total of about $2.6 billion of the funds so far repatriated to Nigeria was from Switzerland while the other recoveries came from UK and USA.
Significantly, in 2014, the Abacha family entered into an agreement, forfeiting several billions of dollars to the Federal Government, following plea bargaining to drop charges against the late military ruler’s son
Buhari’s government has however decided to plough the recovered funds into its Social Intervention Programmes, SIPs, but there were alarms that that is the vehicle to re-loot the money.
Meanwhile, an agreement was signed by the Federal Government, the government of Jersey and the United States to repatriate the latest $308m under some conditions to ensure the money was not re-looted.
The agreement, which the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, signed behalf of Nigeria, was said to have detailed that the money be used to finance three major projects across Nigeria: Lagos-Ibadan Expressway (Western Region), Abuja-Kano Road (Northern Region), and Second Niger Bridge (Eastern Region).
But the issue took a twist when reports surfaced that there were plans to pay $100m of the money to Alhaji Abubakar Bagudu, a former associate of Abacha but now the governor of Kebbi State, on the grounds of a condition that facilitated the recovery of the money.
The plan has since been denied by the federal authorities.
Transparency International had this to say on the controversial Abacha loot: “In Nigeria, plans are in motion to distribute US$322 million recovered in Switzerland from the late General Sani Abacha, the country’s former military ruler. Abacha is suspected of looting between US$3 and $5 billion in public money.
“Where institutions of accountability are not working well, such cases pose a complex problem: how to make sure that the money is not embezzled again, and actually benefits the real victims of corruption – the ordinary people whose state finances were plundered. In 2006, US$723 million illicitly acquired by Abacha’s family was returned to Nigeria from Switzerland. A significant amount of these funds remains unaccounted for.
“That past experience led Switzerland to controversially attach conditions to the repatriation of this batch of Abacha loot, including third party oversight – meaning that the World Bank will now monitor the distribution of the funds.
“Under the deal, around 300,000 poor families in just over half the 36 states in Nigeria will each receive approximately US$14 per month through the Nigeria National Social Safety Net Program. However, this cash-transfer model has proved controversial, in part because of documented problems with how the safety net programme operates.”

Reps Talk Tough
Getting wind of the redistribution of the funds, the House of Representatives, in 2018, rejected the move by the Buhari government, saying government could not spend money not appropriated by parliament.
The Reps action followed a motion by Hon. Sunday Karimi of the 8th House titled: ‘Urgent Need to Stop the Federal Executive from Spending the Last Tranche of Abacha Loot or Any Recovered Loot At All Without Parliamentary Approval’ on July 5, 2018.
Parliament also rejected any form of conditionalities given to Nigeria by any country, saying that no country had the right to give it conditions on how to spend the money. The House then resolved to investigate the recoveries from 1999 to 2018.

Recovery Details
According to Transparency International, below are the details of the recoveries made by successive governments after Abacha’s death in 1998.
Under General Abdulsalami Abubakar: $750 million
Under President Olusegun Obasanjo: $2 billion
Under President Umaru Musa Yar’Adua: $0
Under President Goodluck Jonathan: $227 million
Under President Muhammadu Buhari: $630 million

Bottom line: Perhaps there are more looted funds still out there going by the frequency of recoveries by the federal authorities. In that regard, a member of the House of Representatives, Salam Bamidele, said: “I believe that we may not have really gone half way in digging some of those monies stashed away in foreign accounts by the late Gen. Sani Abacha and maybe some people who were close to him

Read more at: https://www.naijatiktok.com.ng/2020/05/abacha-loot-how-much-did-late-head-of.html?m=1"

Just one person.. Bubu knew about the loot that's why he's been fighting to become the president all this while just to claim them

After somebody will say this is not a zoo.

Abacha indirectly helped the failed Nigeria saved for the future.

If a single man could loot this huge amount of money in 1993, Nigeria would have been one of the best country if all these money he looted was used judiciously in 1993.

And the looting continues.

I gave up on Nigeria long time ago.

Diverting such huge amounts of money from government cuffer as at 1993 with no significant effect on the treasury shows the country is rich and has potentials of becoming a very great country but it seems those leaders clique has vowed never to allow it.

Those people are ruthless to the extent, that when they were banned for foreign trips (she) was boasting that " no matter how poor (she) will be, she won't be as poor as that boy Aminu dogo(Dangote) "
Just imagine!

I don't know how people manage to live with it, they don't even have shame (God Forbid!).
Hmmm...

Abacha never stole,he kept the money for future purpose.

Remaining I've $3.5billion to be recovered

vastolord4:
Just one person.. Bubu knew about the loot that's why he's been fighting to become the president all this while just to claim them

PMB denied on more than one occasion ( and this is on record ) that Abacha did not steal any money

Hmmm
Nigeria, I dey hail o
Another looting loading. .....

Probably, He was able to loot so much, because he was solely in control, nothing like house of rep and all, govt workers were afraid to steal.

Funny enough, none after him has achieved what he had in terms of economic growth and security till date.

kestolove95:
Remaining I've $3.5billion to be recovered

You no dey sleep ni?

And his family n his associates are still roaming and dictating affair of country.

If Abacha can stal this much ,imagine how much is in IBB, AbdulSalam, Obj, David West, Yardua, Jonathan n the past Governors accounts

Abacha was not corrupt - Buhari
Re-elect Gandollar, he is innocent of allegations - Buhari

Ruthless thief

I wonder how well respected he will be in hell.

That Abacha Yama Yama heh really stole from us

Some Recoveries from Abacha's Loots since 1998-2020 you need to know

1998 : $750m

2000: $64m

2002: $1.2bn

2003: $160m

2003: $88m

2005: $461m

2006: $44m

2014: $227m

2017: $322m

2019: £211m

2020: $311m

Thats why there will always be a curse over the north due to the atrocities it has committed to this country especially to the south

FEGNO:


PMB denied on more than one occasion ( and this is on record ) that Abacha did not steal any money

don't mind that clueless greedy disaster of a president

Mayorleo:
Some Recoveries from Abacha's Loots since 1998-2020 you need to know

1998 : $750m

2000: $64m

2002: $1.2bn

2003: $160m

2003: $88m

2005: $461m

2006: $44m

2014: $227m

2017: $322m

2019: £211m

2020: $311m

according to Mr intergrity saint buhari abacha never stole but gudluck Jonathan loot Nigeria the north is the problem of Nigeria

God will punish them all saint buhari n his useless shameless supporters

And bubu said he was not corrupt. Saint Abacha sent your us money to cushion the effect of corona virus. Bubu should better share the money

Damn see money way only one person loot!!! , are you sure Abacha's full name is not "Martin LOOTER Sani Abacha??!

So, during OBJ's tenure $2bn was recovered. What did he do with the money?

Abacha and all other looters dead or alive will never sleep well. They're the cause of the situation we're now

Abacha is like yahoo++ to Nigerian govt or how else do I explain a dead man from 20 years plus ago still delivering mysterious cash. This real home video at national level.

If you were president...and your country was about to be sanctioned what will you do... That was the challenge Abacha was faced with..

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LivingSage:
Abacha and all other looters dead or alive will never sleep well. They're the cause of the situation we're now

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Leadership problems is the bane of Nigeria society hence the high level of infrastructural decay in all the fabrics of the country, a big shame to everyone who has occupied any political position from the Council to presidency over these years, they will surely reap their wicked seed sown among Nigerians

ABACHAVIRUS.

THANKS TO TRUMP VACCINE.

Abacha is a great ancestor.

We are still enjoying his dividends, no wonder he is not corrupt.

They won't investigate his wife's account o, but it's Dame Patience Jonathan they want to see her account.

Let the investigation start from the inception.

Chai

Naija delta money