Buhari Tells Foreign Countries to Return Nigeria’s Stolen Wealth, Assets, Says Abacha Alone Stole $5Bn

Buhari Tells Foreign Countries to Return Nigeria’s Stolen Wealth, Assets, Says Abacha Alone Stole $5Bn

  • President Buhari has sent an open letter to foreign countries requesting the return of stolen assets and money.
  • The letter, which was published in International media outlets, detailed what Nigerian leaders had taken.
  • The president expressly stated that former Military leader Sani Abacha stole an estimated $5 billion

President Muhammadu Buhari is seeking the return of assets taken away from the country and stashed in foreign countries worldwide.

In an article published in the Financial Times of London, the President questioned the western country’s decision to retain the funds.

According to Buhari, Nigeria just like other African countries, need the funds idling away in banks to develop infrastructure.

Buhari writes to foreigh countries on stolen wealth from Africa
President Buhari wants return of stolen wealth Credit: Presidency
Source: Facebook

Some of the requests of President Buhari

The President noted that Nigerians were delighted by the news this summer that 72 artefacts, known as the Benin Bronzes, held by the Horniman Museum in London were returning home, 125 years after being plundered by British troops.

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He, however, noted also that the clamour for repatriation of looted treasures is becoming irresistible, adding that billions are still stashed away in Western bank accounts

He said:

“There was once a similar clamour for the return of Africa’s stolen assets, and I see both as part of the same struggle to bring back to Nigeria what is rightfully ours.
“Siphoned from the continent by corrupt former leaders, countless billions remain stashed in western bank accounts.
“Although Nigeria has arguably been the most successful among African nations in securing the return of stolen money, it has recovered only a fraction of what remains in the west.

BusinessDay reports that President Buhari, in his letter, revealed that former Military leader Sani Abacha stole about $5 billion alone.

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He continued:

"Earlier this year, Nigeria was forced to take legal action against the UK National Crime Agency, after repeated delays to the return of money taken out of the country in the 1990s by former dictator General Sani Abacha.
“However, the court case reveals the scale of the challenge before us."

Buhari blame corruption

Buhari further called on western countries to trust African leaders to use the money appropriately when returned.

"Given the levels of corruption across Africa, there will be a concern as to whether funds returned will be used appropriately, but we should not forget that it was through western jurisdictions that the money was laundered in the first place”
"Not trusting Africans to spend their own money properly echoes the argument that we can’t be trusted to look after our cultural heritage”

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Meanwhile, Legit.ng earlier reported that Tinubu assured Nigerians that their hope is now back.

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Speaking Thursday night, October 6, in Abuja, Tinubu, who arrived from London a few hours earlier, said he is “back actively.”

“The trip was very good. I enjoyed my break and I am happy to be back in my fatherland. Nigerians should expect a very intelligent ability to think and perform. Nigerians should expect that the help they needed is here," he said.

Source: Legit.ng

Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.

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