US, Nigeria Sign Agreement On Abacha Loot Return - Politics

US, Nigeria Sign Agreement On Abacha Loot Return - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › US, Nigeria Sign Agreement On Abacha Loot Return (29275 Views)

US, Nigeria Sign Agreement On Abacha Loot Return by Nobody: 1:26pm On Feb 04, 2020

The Government of Jersey, the Federal Republic of Nigeria and the Government of the United States of America have entered into an Asset Recovery Agreement to repatriate over US$308 million of forfeited assets to Nigeria.

This was contained in a press statement published on the website of US Embassy and Consulate in Nigeria on Tuesday.

The funds were laundered through the US banking system and then held in bank accounts in Jersey in the name of Doraville Properties Corporation, a BVI company, and in the name of the son of the former Head of State of Nigeria, General Sani Abacha.

In 2014 a U.S. Federal Court in Washington DC forfeited the money as property involved in the illicit laundering of the proceeds of corruption arising in Nigeria during the period from 1993 to 1998 when General Abacha was Head of State.

This case is a result of extensive co-operation between the Jersey authorities, the Money Laundering and Asset Recovery Section of the United States Department of Justice and the Federal Bureau of Investigation, and the Federal Republic of Nigeria, with crucial assistance from other governments around the world.

At the time the case was filed as part of the U.S. Department of Justice’s Kleptocracy Asset Recovery Initiative in 2013, it was the largest U.S. kleptocracy forfeiture action ever commenced.

In 2014 the Attorney General of Jersey applied for, and was granted, a Property Restraint Order over the Jersey bank account balance of Doraville.

This was challenged in the Royal Court of Jersey and Court of Appeal, and an application for permission to appeal to the Privy Council by Doraville was refused. France and the United Kingdom restrained additional funds at U.S. request.

General Abacha and his associates stole and laundered many hundreds of millions of dollars of public money during his military regime, doing vast harm to the futures of Nigerians.

The monies were laundered by his family, including his sons Ibrahim and Mohammed, and a number of close associates.

The laundering operation extended to the United States and European jurisdictions such as the UK, France, Germany, Switzerland, Lichtenstein and Luxembourg.

In 2018, Governments of the Federal Republic of Nigeria, United States of America and the Bailiwick of Jersey commenced the negotiation of the procedures for the repatriation, transfer, disposition and management of the assets.

The tripartite agreement signed this week represents a major watershed in international cooperation in asset recovery and repatriation, and will provide benefit to people throughout Nigeria.

The projects on which the funds will be expended will be administered by the Nigeria Sovereign Investment Authority and independently audited.

The Federal Republic of Nigeria will establish a Monitoring Team to oversee the implementation of the projects and to report regularly on progress.

The Nigerian government, in consultation with the other Parties, will also engage Civil Society Organisations, who have expertise in substantial infrastructure projects, civil engineering, anti-corruption compliance, anti-human trafficking compliance, and procurement to provide additional monitoring and oversight.

https://punchng.com/breaking-us-nigeria-sign-agreement-on-abacha-loot-return/

3 Likes

Re: US, Nigeria Sign Agreement On Abacha Loot Return by helinues: 1:28pm On Feb 04, 2020

Abacha's loot no dey finish?

How much did Abacha actually steal?

147 Likes 13 Shares

Re: US, Nigeria Sign Agreement On Abacha Loot Return by Flexherbal(m): 1:34pm On Feb 04, 2020

General Abacha and his associates stole and laundered many hundreds of millions of dollars of public money during his military regime, doing vast harm to the futures of Nigerians.

The same thing, the leaders of today are doing.

58 Likes 1 Share

Re: US, Nigeria Sign Agreement On Abacha Loot Return by money121(m): 2:11pm On Feb 04, 2020

Re: US, Nigeria Sign Agreement On Abacha Loot Return by Yankiss(m): 2:11pm On Feb 04, 2020

I thought THEY said Abacha was clean and stole nothing? Where is all these revelations coming from?? Abacha loot is clearly bottomless. Only God knows how much they are looting today. Poor country!!

64 Likes 7 Shares

Re: US, Nigeria Sign Agreement On Abacha Loot Return by AerialMapper: 2:11pm On Feb 04, 2020

Which loot again?

Re: US, Nigeria Sign Agreement On Abacha Loot Return by PlaysNigeria: 2:11pm On Feb 04, 2020

Atigbo! Minister for hype, unending drama.

Re: US, Nigeria Sign Agreement On Abacha Loot Return by Tonyfx: 2:11pm On Feb 04, 2020

helinues:
Abacha's loot no dey finish?

How much did Abacha actually steal?

I tire oo

2 Likes

Re: US, Nigeria Sign Agreement On Abacha Loot Return by emmabest2000(m): 2:12pm On Feb 04, 2020

After ban abi ?

9 Likes

Re: US, Nigeria Sign Agreement On Abacha Loot Return by sunshineV(f): 2:12pm On Feb 04, 2020

Will they use the money and do giveaway cus i no see how this news concern poor people

7 Likes

Re: US, Nigeria Sign Agreement On Abacha Loot Return by OmoOduduwa01: 2:12pm On Feb 04, 2020

helinues:
Abacha's loot no dey finish?

How much did Abacha actually steal?

The matter tire me o

5 Likes 2 Shares

Re: US, Nigeria Sign Agreement On Abacha Loot Return by Frreepoi: 2:12pm On Feb 04, 2020*

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Re: US, Nigeria Sign Agreement On Abacha Loot Return by barnny(m): 2:12pm On Feb 04, 2020

1 Like

Re: US, Nigeria Sign Agreement On Abacha Loot Return by Slawormir: 2:12pm On Feb 04, 2020

Damnnnnn niggarrr

Nice one

Re: US, Nigeria Sign Agreement On Abacha Loot Return by solmus: 2:12pm On Feb 04, 2020

Abacha's never ending money

.

Re: US, Nigeria Sign Agreement On Abacha Loot Return by madridsta007(m): 2:12pm On Feb 04, 2020

helinues:
Abacha's loot no dey finish?

How much did Abacha actually steal?

But Beau Harry said he didnt steal anything?

8 Likes

Re: US, Nigeria Sign Agreement On Abacha Loot Return by Miracle4Sure: 2:12pm On Feb 04, 2020

No comment

Re: US, Nigeria Sign Agreement On Abacha Loot Return by Jestin: 2:12pm On Feb 04, 2020

This Abacha loot just be like tap. Them go turn am on to rush small then close am again and then open am again the circle continue.

23 Likes 2 Shares

Re: US, Nigeria Sign Agreement On Abacha Loot Return by donprinyo(m): 2:13pm On Feb 04, 2020

But bubu said abacha did not loot

6 Likes 2 Shares

Re: US, Nigeria Sign Agreement On Abacha Loot Return by nams77: 2:13pm On Feb 04, 2020*

And someone called bihari said abacha did not loot any money. That he was a saint.

Someone said abacha saved this money for Nigeria for the rainy days.

3 Likes

Re: US, Nigeria Sign Agreement On Abacha Loot Return by Greenbirth: 2:13pm On Feb 04, 2020

Fear the northers. They can wipe the villages. All the town and a whole country just to achieve their selfish aims. From looting to terrorism. I wonder what they will bring in next decade.

2 Likes

Re: US, Nigeria Sign Agreement On Abacha Loot Return by BuhariAdvocate: 2:13pm On Feb 04, 2020

It's so sad.

Re: US, Nigeria Sign Agreement On Abacha Loot Return by Wanity(m): 2:13pm On Feb 04, 2020

Oh God
Abacha loot
Abacha loot
Next will be buhari loot

2 Likes

Re: US, Nigeria Sign Agreement On Abacha Loot Return by wilemer: 2:13pm On Feb 04, 2020

fergie016:
The Government of Jersey, the Federal Republic of Nigeria and the Government of the United States of America have entered into an Asset Recovery Agreement to repatriate over US$308 million of forfeited assets to Nigeria.

This was contained in a press statement published on the website of US Embassy and Consulate in Nigeria on Tuesday.

The funds were laundered through the US banking system and then held in bank accounts in Jersey in the name of Doraville Properties Corporation, a BVI company, and in the name of the son of the former Head of State of Nigeria, General Sani Abacha.
https://10.rubis.uk/np539.png

long overdue

Re: US, Nigeria Sign Agreement On Abacha Loot Return by Tobinrobin(m): 2:13pm On Feb 04, 2020

Watch them re loot it in 1,2,3 goo

1 Like 1 Share

Re: US, Nigeria Sign Agreement On Abacha Loot Return by ayfay047(f): 2:13pm On Feb 04, 2020

The ones that were returned earlier, what were they used for ? Awon Oniranu gbogbo

3 Likes 1 Share

Re: US, Nigeria Sign Agreement On Abacha Loot Return by TOPCRUISE(m): 2:13pm On Feb 04, 2020*

If money gotten from a dead president can be this continuous, I wonder how much can be gotten from those that are alive.

The report sounds like Abacha's loot is one of Nigeria's sources of GDP, like say Abacha is one of the economic sector in Nigeria yet it's impact is not felt

27 Likes 2 Shares

Re: US, Nigeria Sign Agreement On Abacha Loot Return by Ijeleigbo(m): 2:13pm On Feb 04, 2020

So long the loot will have no positive impact to the common man, the news is useless!

5 Likes

Re: US, Nigeria Sign Agreement On Abacha Loot Return by southsouthking(m): 2:14pm On Feb 04, 2020*

I don,t believe it because General Buhari once told us that Abacha is not corrupt, so therefore have come to a conclusion that Abacha was only helping Nigerians save for the raining days.

2 Likes 1 Share

Re: US, Nigeria Sign Agreement On Abacha Loot Return by NGRsenate: 2:14pm On Feb 04, 2020

Slawormir:
Damnnnnn niggarrr

Nice one

Nigarrr no dey finish for your mouth?

15 Likes 1 Share

Re: US, Nigeria Sign Agreement On Abacha Loot Return by seunmsg(m): 2:14pm On Feb 04, 2020

helinues:
Abacha's loot no dey finish?

How much did Abacha actually steal?

E no dey finish o. We’re nit even half way down and you’re talking about finish.

Abacha actually opened a savings account for Nigeria when he was in power. We are simply drawing from the account anytime we’re broke. We still have a long way to go before exhausting the account. grin

16 Likes

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