Fidelity bank banner Bayelsa State banner
US blocks $550m Abacha loot

By News Express on 12/01/2017

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

Views: 1,259

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

 

You may also like...
Rivers APC rejects Etche/Omuma election result

2019: Plateau business mogul and guber aspirant is...

Elumelu lauds FG, CBN over efforts to revive...

Bayelsa not indebted to workers, says Commissioner •Accuses...

Boko loses between 207 and 350 warriors in...

NiMet predicts cloudy skies for Monday

LASUTH, South Koreans commence free surgery for cataract...

Ekiti Guber: Group holds prayer session for PDP...

Lagos admitted into Odu’a Group •It’s a big...

Biafra youth leader hits back at Obasanjo

Suicide attack targeting Easter celebrations kills at least...

Nigerian Navy rescues oil tanker from pirates, repels...

 

Latest News Osun governorship election: All the results while waiting for INEC's official declaration 2019: Screening Panel to decide fate of Atiku, Saraki, Tambuwal, others Certificate Saga: Uncertainty, fears grip Buhari’s ministers, aides Ambode’s fate hangs in the balance as party insists on primary Osun Guber: PDP beats Aregbesola in Ijeshaland Missing General: Army recovers bus door Ban of Ohanaeze causes stir APC, PDP devise new method on vote-buying Activities pick up in Delta State IDP Camp; Asaba Camp records first birth Nigeria Air fiasco: Foreign investors, international community won’t take Nigeria serious again — Peter Obi Lagos sues for peace over hijab controversy Gombe, Taraba, no-go-areas for APC, others — Darius Ishaku warns

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (396,162 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (376,627 views) Shameless Genevieve Nnaji exposes breasts in public (308,309 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (250,504 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (232,189 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,593 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (199,966 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (181,564 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (165,633 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (163,335 views) Lagos plane crash: Journalist releases victims’ names (158,093 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (146,854 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (63) Business & Economy (3,622) Business Verdict (52) Columnists (933) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (547) Features (652) Global Business Monitor (301) International (2,426) Interview (165) Live Commentary (28) Love Matters (144) News (39,070) Opinion (1,110) Pidgin (11) Politics (6,705) Religion (872) Sports (1,701) Stock Watch (34) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

I am Imo State's New Governor -- Okorocha's son-in-law Uche Nwosu...

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement