Abacha $322m loot: Reps move to use fund to resuscitate Ajaokuta steel, Railway line

Posted by News Express | 11 July 2018 | 1,679 times

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•Former Head of State, Late Sani Abacha

The House of Representatives on its resumption for Tuesday plenary session started to process a bill which seeks to use the $322 million (or N101.26 billion) Abacha loot to fund the Ajaokuta Steel company and Railway Line, Vanguard reports.

This is barely six days after the House passed a resolution urging President Muhammadu Buhari to halt ongoing plans to distribute the $322 million to 302,000 poor households in 19 states without database.

According to Vanguard, the details of the bill for an “Act to allocate the returned looted Nigerian government fund of $322 million from Switzerland for funding of Ajaokuta Steel Company and Railway line(s) projects in Nigeria and for other related matters,” obtained by Vanguard, was promoted by Rep Ossai Nicholas Ossai, PDP, Delta and five other lawmakers.

They are: Mohammed Umar Bago, Rita Orji, Darlington Nwokocha, Alagbaso Jerry and Nwabuwa Henry Ndochukwu.

Recall that the House had during last Wednesday plenary passed a resolution to set up an Ad-hoc Committee that will investigate repatriated Abacha loot from 1998 till date, and mandated that the Ad-hoc Committee should report back within six weeks for further legislative action.

•Excerpted from a Vanguard report


Source: News Express

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