Fidelity bank banner NewsExpress advert
US blocks $550m Abacha loot

By News Express on 12/01/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,141

Late Sani Abacha.
Late Sani Abacha.

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.
(Isaac Aregbesola.NAN)

Source News Express

Posted 12/01/2017 10:12:19 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
US mulls military action against North Korea

Between Nigerian Igbo and Biafran Agitators: A Northerner’s...

400,000 Nigerian children at risk of death: UNICEF...

China and Africa: A Serious Affair, By Olusegun...

Expect clouds and thunderstorms today, with chances of...

Customs intercept cannabis worth N150m

33 days to South Africa 2013 Nations Cup:...

Anambra PDP to conduct re-run congresses in 6...

Ikeja Police College Commandant dies in American hospital...

Court sentences ex-lawmaker to 154 years in prison...

The media must reflect FG’s new resolve to...

World Cup: Super Eagles upbeat ahead of Bosnia-Herzegovina...

 

Latest News Biafra Referendum: 40 million ballot papers ready -- IPOB 20 German firms seek investments in Nigeria Umahi, commissioner bicker over re-naming of street Farmers/herders Clash: Katsina commences demarcation of cattle routes EFCC nabs school operator for awarding fake degree certificates Fidelity Bank launches FlashKey; an innovative phone keyboards payments solution FG orders MDAs, FIRS to authenticate Tax Certificates before payment to contractors Judge’s death stalls trial in N250m libel suit Public Service Reforms: Bayelsa seeks support from whistleblowers Alleged N1.6bn Money Laundering: Jonathan’s former aide ask court dismiss trial NEMA workers protest poor condition of service, redundancy Ohafia stakeholders re-affirm support for Abia Deputy Governor

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (351,998 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (351,196 views) Shameless Genevieve Nnaji exposes breasts in public (279,921 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (229,849 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (208,902 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (208,488 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (181,617 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (163,668 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (153,772 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (148,410 views) Lagos plane crash: Journalist releases victims’ names (143,693 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,540 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,254) Business Verdict (44) Columnists (868) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (505) Features (607) Global Business Monitor (283) International (2,037) Interview (154) Live Commentary (28) Love Matters (123) News (36,326) Opinion (1,003) Pidgin (10) Politics (5,283) Religion (770) Sports (1,551) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Portugal v Spain 2018

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement