Abacha Loot: UK Anti-Graft Agency Announces Recovery of $23.5M

Abacha Loot: UK Anti-Graft Agency Announces Recovery of $23.5M

  • More and more loots of the late General Sani Abacha has continued to be uncovered with the latest announcement coming from the UK
  • Over $23million in loot was recovered recently by the United Kingdom’s National Crime Agency (NCA)
  • The NCA has vowed that the UK will not be a safe haven for looters as it will continue investigations to recover more loots

Emerging reports have confirmed the recovery of $23.5 million in looted funds by Nigeria’s former head of state, late General Sani Abacha, PremiumTimes reports.

The announcement of the recovery was made known in a statement published on the official website of the United Kingdom’s National Crime Agency (NCA) on Thursday, May 5.

Abacha Loot, UK Anti-Graft Agency, NCA, $23.5M Loot
General Sani Abacha at the last session of the summit meeting of the Economic Community of West African States (ECOWAS) in Abuja.Photo Credit: (Issouf Sanogo)
Source: Getty Images

Legit.ng gathered that the $23.5million recovery made by the NCA comprises of the loots identified by the United States Department of Justice (USDOJ) which was believed to have been mismanaged by the late dictator and his cohorts.

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As further gathered, it was revealed that based on the request of the USDOJ, the NCA embarked on seven-year protracted litigation and international negotiation to obtain a recovery order.

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This order was meant to trigger the US forfeiture order relating to the recovered monies. The funds have now been transferred to the Home Office for onward transmission to the USDOJ.

UK will not be a safe haven for public looters - NCA

According to the NCA Asset Denial Senior Manager, Billy Beattie, he said that all efforts are in place to intercept any attempt to make the UK a safe haven from money laundering.

He said:

“We work closely with UK and international partners to tackle the threat posed by corruption, which disproportionately impacts the poorest and most vulnerable members of society. We are committed to ensuring that those who perpetuate corruption do not benefit from their actions.”

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The NCA case is ongoing with further monies having been identified by the USDOJ as having also been misappropriated by Abacha and his associates.

FG announces recovery of Abacha loots

It will be recalled Legit.ng reported that in June 2016, the federal government announced the recoveries as part of its campaign promise on transparency.

This was according to the statement titled interim report on financial and asset recovery made by the Federal Government of Nigeria from May 29, 2015 to May 25, 2016.

It was gathered that the Federal Government made cash recoveries of N78,325,354,631.82 (Seventy-eight billion, three hundred and twenty-five million, three hundred and fifty-four thousand, six hundred and thirty-one Naira and eighty-two kobo).

EFCC celebrates Chairman's achievement

Meanwhile, the EFCC has highlighted the achievements of its chairman, Abdulrasheed Bawa, to mark his 100 days in office.

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Bawa was appointed by President Muhammadu Buhari in February to head the anti-graft agency following the infamous exit of Ibrahim Magu.

Among the listed achievements are the recoveries of N6,142,645,673.38 (over N6 billion), $8,236,668.75, £13,408.00, €1,730.00, 200 Canadian dollars, CFA374,000.00, and ¥8,430.00 (Japanese Yen).

Source: Legit.ng

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