Is Abacha loot forever? The Power of Greed!!!
The Nigerian Attorney General and Minister of Justice, Abubakar Malami,
during an interactive session with the House of Reps Committee on
Justice, revealed that the Nigerian government will repatriate more of
the infamous loot held in foreign accounts by the late General Sani
Abacha.
The amount to be received, the minister revealed, is $750 million (approximately N150bn). Another N2bn stolen by convicted criminal, ex-Gov of Delta State, James Ibori, is expected to be returned too.The minister stated that: “In respect of the recovery of looted assets, the ministry will engage in an agreement waive policy of using mutual legal assistance agreements or other bilateral and multilateral instruments to seek cooperation with other jurisdictions to ensure the repatriation of illicitly-acquired assets in foreign jurisdictions.
“The collaboration will equally involve the engagement if foreign based counsel will attend to matters on behalf of the federal government. Low- hanging fruits being targeted in this initiative include $750 million Abacha loot as well as the £6.9 million of the Ibori loot.
“In the long run, the ministry will be in a position to coordinate the recovery of billions of dollars in foreign jurisdictions, based on current estimations.”
The amount to be received, the minister revealed, is $750 million (approximately N150bn). Another N2bn stolen by convicted criminal, ex-Gov of Delta State, James Ibori, is expected to be returned too.The minister stated that: “In respect of the recovery of looted assets, the ministry will engage in an agreement waive policy of using mutual legal assistance agreements or other bilateral and multilateral instruments to seek cooperation with other jurisdictions to ensure the repatriation of illicitly-acquired assets in foreign jurisdictions.
“The collaboration will equally involve the engagement if foreign based counsel will attend to matters on behalf of the federal government. Low- hanging fruits being targeted in this initiative include $750 million Abacha loot as well as the £6.9 million of the Ibori loot.
“In the long run, the ministry will be in a position to coordinate the recovery of billions of dollars in foreign jurisdictions, based on current estimations.”
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